EssilorLuxottica Expands Southeast Asia Presence with Strategic Stake in Thai Optical Powerhouse Top Charoen
In this article (4)
Global eyewear conglomerate EssilorLuxottica has recently acquired a piece of the pie in Thailand’s optical market, Top Charoen. This move is part of EssilorLuxottica’s expansion plan in Southeast Asia, reinforcing its presence in one of the fastest-growing regions for the eyewear industry.
Partnership At Its Best
The financial particulars of the deal were kept under wraps. However, the fusion of the world’s leading eyewear group, EssilorLuxottica, with Top Charoen, one of the largest optical chains in Thailand boasting over 2000 stores nationwide, is noteworthy. This partnership is a result of a long-standing commercial relationship between the two companies. The acquisition strengthens this bond and provides EssilorLuxottica with a deep penetration into Thailand’s retail distribution, a strategic move as global eyewear companies increasingly focus on expanding in the rapidly growing Asian markets.
Aiming High
Francesco Milleri, the Chairman and CEO, and Paul du Saillant, Deputy CEO at EssilorLuxottica, commented on the partnership. They expressed that their collaboration with Top Charoen is set to bolster their existing dominance in one of Asia’s most significant countries. The partnership aims to elevate vision care standards and foster growth in the emerging wearable category across the region, they added.
Moreover, the company leadership is committed to prioritizing their customers’ needs, providing high-quality, innovative vision care products and services. With their combined strengths, they plan to drive awareness and take measures to address the increasing visual health needs of Asia.
A Brief About Top Charoen
Established in 1947 in Saraburi, Top Charoen has flourished into a nationwide network operating under various banners. The company has an array of brands like Top Charoen, Luxoptic, Eye Class, Eye Bright, Eye Sport, Big C Optical, Robinson Optical, and Beautiful Optic. In addition to its physical stores, Top Charoen also has a strong e-commerce presence through its own platform and local marketplaces.
Questions & Answers
What is the significance of EssilorLuxottica’s stake in Top Charoen?
This acquisition provides EssilorLuxottica a deep penetration into Thailand’s retail distribution, a strategic move as global eyewear companies increasingly focus on expanding in the rapidly growing Asian markets.
How will this partnership benefit the eyewear industry in Asia?
The collaboration aims to elevate vision care standards and foster growth in the emerging wearable category across the region.
What are some of the brands under Top Charoen?
Top Charoen operates under various banners such as Top Charoen, Luxoptic, Eye Class, Eye Bright, Eye Sport, Big C Optical, Robinson Optical, and Beautiful Optic.