MILAN : EssilorLuxottica sees its stake of more than 5 per cent in Japanese camera maker Nikon Corp as a long-term financial investment to support the company and its management, a source close to the Franco-Italian eyewear maker said on Tuesday.
EssilorLuxottica, the maker of Ray-Ban glasses, has taken a 5.1 per cent stake in Nikon as of the start of October, corresponding to a 170 million euro ($187 million) investment in the Japanese group, according to a regulatory filing and LSEG data.
WHY IT MATTERS
The investment deepens ties between the two companies, after the eyewear maker entered into a joint venture with Nikon Corp in 2000 for the creation of Nikon-Essilor, a wholesale lens business entity based in Tokyo serving regional and global customers.
($1 = 0.9101 euros)