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Ray-Ban and Oakley owner in US$49b merger with Essilor

Combined company, to be known as EssilorLuxottica, will be the biggest player in the eyewear market

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Luxottica, which makes eyeglasses and sunglasses under various brands, and lens-maker Essilor are the two largest players in the sector.

London

ESSILOR of France said on Monday that it would merge with the Luxottica Group of Italy - owner of the Ray-Ban and Oakley brands - in a US$49 billion deal that would create a giant in the eyewear industry.

The combined company, to be known as EssilorLuxottica, would be the

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