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Luxottica buys Salmoiraghi eyewear chain -report
November 23, 2012 / 7:21 AM / 5 years ago

Luxottica buys Salmoiraghi eyewear chain -report

MILAN, Nov 23 (Reuters) - Italy’s Luxottica has bought 40 percent of the unlisted 900-store Salmoiraghi & Vigano chain of eyewear shops, Italian daily La Repubblica reported on Friday, marking Luxottica’s entry into Europe’s retail market.

Eyewear manufacturer Luxottica has paid 40 million euros ($51.54 million)for the 40 percent stake, with an option to acquire a majority stake in the coming years for a total of up to 200 million, the paper reported without citing sources.

Luxottica Chief Executive Andrea Guerra told Reuters last month his company was looking at possibly buying Salmoiraghi & Vigano.

Luxottica, the world’s biggest premium eyewear maker, was not immediately available for comment.

$1 = 0.7761 euros Reporting by Jennifer Clark; Editing by Lisa Jucca

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