Luxottica acquired Oakley, according to a LinkedIn post that references the deal as part of the company's consolidation history. The post states that Luxottica acquired Oakley in 2007. The transaction amount was not disclosed in the source.
The source describes Luxottica's expansion under founder Leonardo Del Vecchio, who the post says started as a metalworker in Italy. According to the post, the company grew through consolidation, acquiring brands including Ray-Ban in 1999 and Oakley in 2007, and built control across manufacturing, retail and insurance. It lists manufacturing of frames and prescription lenses, storefronts including Sunglass Hut, LensCrafters and Pearle Vision, and the vision insurance provider EyeMed as parts of that chain.
The post also states that Ray-Ban and Oakley are owned by the same parent company, EssilorLuxottica, and argues that consumers mistake the two brands for competitors. It describes a practice of moving acquired brands from discount outlets to luxury displays and raising retail prices by 300% to 500%, and it names Danyang in China, Warby Parker and Zenni Optical as competitive pressures on that model. These characterizations are the source's own.
The post does not state a purchase price, a closing date, advisers or financing details for the Oakley transaction.