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