In a sign of ongoing trends in the optical sector, global optical industry giant EssilorLuxottica has revealed it tried to invest in Italian hearing aid maker Amplifon.
EssilorLuxottica CEO Francesco Milleri, on the sidelines of the company’s recent annual shareholders meeting, told media that audio would be among the group’s biggest growth areas.
As reported by Reuters, he said: “We monitor almost everything that happens within our world, so we also looked at Amplifon.”
He did not specify when EssilorLuxottica had considered an investment or the size of the stake that was considered.
“Then they (Amplifon) made different choices”, he said.
Earlier this year Amplifon announced a definitive agreement to acquire GN Hearing (part of GN Store Nord) for approximately €2.3 billion (AU$3.7 billion), with the deal expected to close by the end of 2026.
EssilorLuxottica has expanded into the audiology sector with its Nuance Audio glasses, eyewear with hearing assistance technology for people with mild to moderate hearing loss.
Milleri said further growth in the audio segment would come “through new products that will enhance Nuance’s performance, while also expanding our portfolio with innovative products offering different characteristics”.
