Ray-Ban owner and lens maker Essilor to merge in $49 bn deal

Italian eyewear firm Luxottica and French lens maker Essilor have agreed to a $49 billion (over ₹3.3 lakh crore) merger which will have an annual revenue of around $16 billion (₹1 lakh crore). Luxottica is the world's leading spectacles maker with brands such as Oakley and Ray-Ban. Notably, the deal marks one of Europe's largest cross-border tie-ups.