Luxottica Buys Salmoiraghi & Vigano

Italy's Luxottica has bought 40 percent of the unlisted 900-store Salmoiraghi & Vigano chain of eyewear shops, Italian daily La Repubblica reported on Friday, marking Luxottica's entry into Europe's retail market," reports Reuters. "Eyewear manufacturer Luxottica has paid 40 million euros ($51.54 million)for the 40 percent stake, with an option to acquire a majority stake in the coming years for a total of up to 200 million, the paper reported without citing sources." Read more.