Essilux completes acquisition of Japanese Washin
The Japanese optical retailer, founded in 1951, has about 70 direct shops in the country.
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Luxottica Japan, a subsidiary of EssilorLuxottica, has completed the acquisition of Washin Optical Co, a Japanese optical retailer with around 70 direct shops in the country. The deal confirms the Italian-French eyewear group's commitment to developing its retail activities in the country, where it already operates around 70 shops - both under the Ray-Ban, Oakley and Oliver Peoples brands and in department stores - and serves thousands of optical customers and partners. The acquisition of Washin also paves the way for further investments in Japan and represents a strategic lever to increase the retail business in the country.
Washin was founded by Toru Negishi in 1951, with the opening of the first shop in Urawa, Saitama Prefecture. Washin shops are mainly located in the Kanto region and in some of the most important shopping districts, such as Ginza and Shinjuku in Tokyo.
Manufactured in Japan
.In recent years, EssilorLuxottica has also invested in "made in Japan" production through the acquisition of Fukui Megane, a manufacturing excellence within the historic Fukui eyewear district. Today, Fukui Megane, which has already undergone extensive renovation and expansion of its production activities, expresses an eyewear tradition renowned for high craftsmanship, design and the quality of the materials used.
EssiLux took its first steps in Japan between 1986 and 1990, when Essilor and Luxottica opened their first sales subsidiaries to serve lens professionals. The successful joint venture with Nikon Corporation and the creation of Nikon-Essilor, a Tokyo-based company serving local and global customers with its lens technologies, dates back to 2000.
"Japan - for us a country with great potential for growth and expansion, and therefore strategic. Washin, with whom we share values and a love for beauty and quality, perfectly complements our existing retail network in the sun and fits in with our open, omnichannel business model. The investment is another tangible sign of our long-term commitment to enhance Japanese culture in the global market. As we continue to showcase the best of Made in Japan around the world, we will continue to develop and offer innovative solutions to our optical customers and partners, who always remain at the core of our strategies".
