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Oakley Bought by Luxottica for $2.1 Billion Cash

On Wednesday, June 20, Italian Luxottica Group announced it’s buying Oakley for $2.1 billion in a cash deal. In 2006, Oakley earned an estimated $44.79 million or $.65 per share on $761.9 million in sales.

So who’s left that’s not with Luxottica? Spy Optics for one. This either means that the sunglasses market has room for up-and-coming brands that can survive on their own distribution, or, once they get to a certain level, are slowly being overtaken by the behemoth brands of the business.