Luxottica Japan, part of EssilorLuxottica, has acquired local retailer Washin Optical Co., as the Italian eyewear firms looks to grow its presence in Japan.
Washin, a Japanese optical retail player counting approximately 70 direct stores, was founded by Toru Negishi in 1951, with the opening of its inaugural store in Urawa, Saitama. Today, Washin stores are mostly located in the Kanto region, with flagships situated in prominent commercial districts, such as Ginza and Shinjuku in Tokyo.
EssilorLuxottica said the acquisition looks to pave the way for further investments in Japan and will give the eyewear manufacturing company insight into the dynamics and future development of the Japanese eyewear retail industry. It will also serve as a platform to further increase the group’s retail presence in the country, according to a press release.
“When we look at Japan, we see a long runway ahead with potential for growth and expansion – this is what makes it strategic for us. Washin is a company that shares our values, our love for beauty and superior quality and they will complement our existing network of sun retail banners and our omni-channel and open network approach extremely well,” said Francesco Milleri, Chairman and CEO at EssilorLuxottica.
