Oakley is a globally recognized brand, known for its high-performance sunglasses, sports gear, and lifestyle accessories. But who actually owns this innovative eyewear company? The answer lies within the powerful world of luxury eyewear conglomerates.
Founded in 1975 by Jim Jannard, Oakley started as a small business selling motorcycle grips. Jannard, an inventor and entrepreneur, revolutionized the eyewear industry with innovative lens technology and high-quality materials. Over the decades, Oakley became a leader in performance eyewear, particularly favored by athletes and outdoor enthusiasts.
Who is the Owner of Oakley?
Luxottica is the owner of Oakle. In 2007, Oakley was acquired by Luxottica, an Italian eyewear giant, for approximately $2.1 billion. Luxottica was already a dominant force in the industry, owning brands such as Ray-Ban and Persol, as well as holding licensing agreements for luxury brands like Prada, Versace, and Chanel. The acquisition of Oakley further strengthened Luxottica’s position as the world’s largest eyewear company.
In 2018, Luxottica merged with French lens manufacturer Essilor to create EssilorLuxottica, a multinational eyewear conglomerate. This merger combined Luxottica’s extensive eyewear portfolio with Essilor’s advanced lens technology, making it a powerhouse in both eyewear manufacturing and optical innovation.
Following the passing of Luxottica’s founder, Leonardo Del Vecchio, in 2022, the leadership of EssilorLuxottica transitioned to Francesco Milleri. He now serves as the Chairman and CEO, overseeing the vast empire of eyewear brands, including Oakley.
Despite being part of a corporate giant, Oakley continues to innovate and maintain its reputation for high-performance eyewear. The brand remains a top choice for athletes, military personnel, and adventure seekers worldwide.
About Francesco Milleri
EssilorLuxottica, the parent company of Oakley, is led by Chairman and Chief Executive Officer Francesco Milleri. He has been serving as CEO since June 2022 and became Chairman on June 28, 2022. Milleri graduated with honors in Law from the University of Florence, where he also worked as an Assistant Professor of political economy from 1984 to 1986. He later earned an MBA with high merit from Bocconi University in Milan in 1987, followed by two years of specialization in Corporate Finance at the Stern School of Business at New York University.
EssilorLuxottica was formed in 2018 through the merger of Essilor and Luxottica, combining their expertise in ophthalmic lenses and eyewear manufacturing. The company owns several prominent brands, including Ray-Ban, Persol, Oliver Peoples, and Oakley.
The late Leonardo Del Vecchio, founder of Luxottica, played a significant role in the company’s history. Under his leadership, Luxottica acquired various brands and expanded its global presence. Following his passing, Francesco Milleri has continued to lead EssilorLuxottica, focusing on innovation and strategic growth.
The History of Oakley
Oakley was founded in 1975 by Jim Jannard with an initial investment of just $300. The company started by selling motorcycle grips but quickly expanded into eyewear, introducing innovative lens technology that set it apart from competitors.
One of Oakley’s biggest breakthroughs came in the 1980s with the release of Oakley Eyeshades, sports sunglasses that became popular among cyclists. The brand’s popularity skyrocketed in the 1990s and early 2000s, solidifying its place as a leader in sports and lifestyle eyewear.
Technological Innovations
Oakley is known for its commitment to innovation, with proprietary technologies such as:
- Prizm™ Lens Technology – Enhances color contrast for better visibility in different environments.
- High Definition Optics® (HDO®) – Provides clarity and impact resistance beyond industry standards.
- O Matter™ Frames – Lightweight and durable material used in Oakley sunglasses and goggles.
These technologies have made Oakley eyewear the go-to choice for professionals in sports like cycling, skiing, and baseball.
Oakley’s Expansion and Influence
Over the years, Oakley has expanded beyond sunglasses to include:
- Prescription eyewear
- Sports Goggles
- Military and tactical gear
- Clothing and accessories
Oakley also collaborates with athletes and teams, ensuring that its products meet the rigorous demands of sports performance.
Why Oakley Stands Out
Oakley remains a top-tier brand due to its:
- High-performance technology
- Durable and stylish designs
- Strong association with professional athletes
- Military-grade protective eyewear
Despite being part of a corporate giant, Oakley continues to innovate and deliver top-quality products for sports and lifestyle enthusiasts alike.
Conclusion
While Jim Jannard founded Oakley, it is now owned by EssilorLuxottica, with Francesco Milleri at the helm. This evolution has allowed Oakley to benefit from advanced technology and global reach, ensuring its position as a leader in the eyewear industry for years to come.