April 11, 2024 — Luxottica Japan has completed its acquisition of Washin Optical Co. Ltd., a Japanese optical retailer with approximately 70 stores, marking another step toward EssilorLuxottica’s goal to foster appreciation for eyewear and eyecare solutions among Japanese consumers.

The company shares that the acquisition will provide greater insight into the underlying dynamics and future development of the Japanese eyewear retail industry, allowing EssilorLuxottica to grow its investment in the country where it operates 70 retail locations for its Ray-Ban, Oakley, and Oliver Peoples brands.

Founded in 1951 with the inaugural store in Urawa, Saitama, Washin stores are currently primarily located in the Kanto region with flagships situated in commercial districts like Ginza and Shinjuku in Toyko.

The acquisition of Washin follows EssilorLuxottica’s acquisition of Fukui Megane, a manufacturer located in the Fukui eyewear district—an investment toward the production of “Made in Japan,” EssilorLuxottica shares. The company also opened its first commercial subsidiaries in Japan between 1986 and 1990 before entering a joint venture with Nikon Corporation in 2000, Nikon-Essilor, a wholesale lens business entity based in Tokyo.

“When we look at Japan, we see a long runway ahead with potential for growth and expansion,” says Francesco Milleri, chairman and CEO at EssilorLuxottica. “This investment is another sign of our long-term commitment to establishing a bridge between the Japanese culture and a global attitude.”