RedCam CentralSite Admin
Joined: 14 Dec 2006
Posts: 1640
Location: Los Angeles
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 Posted: Thu Jun 21, 2007 11:49 pm Post subject: Oakley to Merge Into Luxottica Group |
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It seems Jim Jannard (founder of RED) has sold Oakley to Luxottica, which may mean that he can now concentrate even more resources on the RED project.
Reports of the deal are saying that it is a complete sale of the shares, and that Mr. Jannard may intend to make an investment back into the company after the transaction closes.
Mr. Jannard commented on the deal, saying, "...Oakley's technology and performance is one of the world's best kept secrets and this partnership should empower our ability to tell our story throughout the world. I am encouraged by the fact that Luxottica's management has come to understand the unique, rogue nature of Oakley in the eyewear industry and is committed to preserving it. Oakley will continue to be Oakley but with much greater resources and a platform for realizing the true potential of our brand and company..."
http://investor.oakley.com/phoenix.zhtml?c=67365&p=irol-newsArticle&ID=1017819&highlight=
Congratulations, Jim!
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Casey Green
RedCam Central Founder
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