Luxottica Group (LUX) said it formed a long-term joint-venture with Essilor International for the Australian and New Zealand markets.
Under the terms of the agreement, the joint-venture will manage Eyebiz Pty Limited, Luxottica's Sydney-based optical lens finishing laboratory, which, as a result of this alliance, will be majority-controlled by Essilor.
Eyebiz will continue to supply all of Luxottica's retail optical outlets in Australia and New Zealand: OPSM, Budget Eyewear and Laubman & Pank. The Eyebiz management team will remain in place and report to the new Board, comprised of Essilor International and Luxottica representatives.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.