UAE luxury fashion conglomerate Chalhoub Group has signed a joint-venture agreement with Paris-based ophthalmic company EssilorLuxotticafor to promote eyewear retail in the GCC region.
The joint venture will see the opening of mono-brand and multi-brand stores for Global brands including Ray-Ban, Persol, Oliver Peoples and David Clulow.
Chairman and CEO at EssilorLuxottica, Francesco Milleri, said: “We are pleased to partner with Chalhoub Group to grow the eyewear category in the highly dynamic region that is the GCC.
“This move will allow us to complement our existing and deeply rooted network of customers in the region, whom EssilorLuxottica is committed to continuing serving with high-quality products and solutions. Leveraging on Chalhoub Group’s extensive knowledge and retail presence in the region, we will raise the visibility and quality of the entire industry and reinvent the omnichannel consumer journey together, resulting in a more engaging retail experience for consumers.”
The agreement seeks to leverage Chalhoub Group’s deep understanding of the region’s consumers.
The new partnership also aids the conglomerate’s expansion into the rapidly growing eyewear category.
Established in 2018, EssilorLuxottica sells brands including Sunglass Hut, LensCrafters, Salmoiraghi & Viganò and GrandVision and employs approximately 190,000 employees.
In 2022, the Company generated consolidated revenue of €24.5 billion.
Group president at Chalhoub Group, Patrick Chalhoub, said: “As we expand into the eyewear category, we are entering a new vertical that has significant potential for growth and innovation with a high demand from our regional luxury consumers.
“EssilorLuxottica is a partner of choice with their fashionable, elegant products, and brand portfolio; their core values of helping people to “see more and be more”, alongside their growth ambition in the GCC region, complements our Group’s purpose to inspire and delight customers.”
Chalhoub Group operates a portfolio of eight owned brands and more than 300 international brands in the luxury, beauty, fashion and art de vivre categories.
