Here's a video quick 101 on Luxottica. Here's a Forbes article if you don't feel like watching the video.
Essilor is a renowed lens crafter, Luxottica owns a ton of major frame companies, now the two will combine after Essilor agreed to buy Luxottica for $24 bil in stock. Luxottica will be delisted and the new company will be known as EssilorLuxottica.
Market dominance after merger:
Luxottica increasingly competes with large luxury players such as Kering in a global eyewear industry worth about $121 billion last year, according to data from Euromonitor.
$121 billion... Time to work for EssilorLuxottica instead of JPM Chase?