On May 11th, European eyewear giant EssilorLuxottica announced the signing of a joint venture agreement with Middle Eastern luxury powerhouse Chalhoub. The partnership aims to develop the eyewear retail business in the Gulf Cooperation Council (GCC) region, which includes six countries: Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman, and Bahrain.
The joint venture will establish brand boutiques or concept stores for globally recognized brands such as Ray-Ban, Persol, Oliver Peoples, and David Clulow, among others, to expand their brand influence in the GCC region.
The signed …
