Feud Erupts at EssilorLuxottica After Del Vecchio Cries Foul

A feud is developing at EssilorLuxottica just two years after Italian eyewear maker Luxottica Group agreed to merge with France’s Essilor International to make the industry’s biggest company.

Delfin, Luxottica founder Leonardo Del Vecchio’s holding company, charged that “certain conducts” by some Essilor representatives constitute a violation of the combination agreement and the company’s governance rules, according to an emailed statement March 20. Essilor representatives have deliberately prevented Delfin from exercising its equal share of managerial authority, the email said. The email didn’t specify the nature of the violation, and a Delfin representative had no immediate comment.

Luxottica and Essilor ...