Competing eyewear retailers are concerned about the acquisition of GrandVision by industry giant EssilorLuxottica. They have voiced their grievances to the European Commission, which has yet to approve the takeover.
Higher prices
Eyewear retailers fear that the acquisition will lead to higher prices and less choice, as the resulting company will have too big of a market share. They are also afraid of the potential power of EssilorLuxottica’s online platform. This became clear during the first phase of the investigation of Europe’s competition watchdog, Dutch newspaper De Telegraaf writes.
The takeover was announced last summer. Observers already questioned the deal at the time, as it represented not only a major consolidation in the eyewear industry, but also a major vertical seizure of power over the whole industry.
