Rumors hitting the financial markets!

http://www.msnbc.msn.com/id/19181717/

The parent of LensCrafters and Sunglass Hut might be interested in buying one of the nation's best-known brands in athletic eyeglasses and apparel, Oakley Inc., as it pursues ambitions to expand its retail operations.

The Italian newspaper la Repubblica reported that Luxottica Group SpA, based in Milan, is interested in Oakley. The paper did not say where it got the information, but some say Oakley would be a desirable takeover target - if it is willing to sell. The $762 million company, headquartered in Southern California, has distinguished itself with its high-performance, and often high-priced, technology and fashion. Oakley's brands include Dragon, Eye Safety Systems, Fox Racing, Mosley Tribes and Paul Smith Spectacles, and it operates retail chains Bright Eyes, Oakley Stores and Sunglass Icon.

"Oakley has a premier brand name," said Rommel Dionisio, an analyst who covers Oakley for Wedbush Morgan Securities in Los Angeles. "This is a premier lifestyle brand that has a somewhat focused demographic."

May God have mercy upon our souls...

dosn´t sound so good....
is there a statement from Oakley to this issue???

Matt

I dont think this will ever happen as long as JJ is alive and in charge.

Here is the rest of the story....

Luxottica, with 2006 sales of $6.4 billion, operates its North American retail business out of its headquarters in Mason, from which it oversees the operations of more than 4,800 stores, including LensCrafters, Pearle Vision, Sunglass Hut and others.

Sources at Luxottica could not be reached, and a spokesman for Oakley declined comment. But in an April 24 conference call with analysts, Luxottica CEO Andrea Guerra said the company is prepared to make larger, and possibly more, acquisitions in 2007. Luxottica in 2006 purchased about six companies, including the 100-store chain D.O.C Optics for $90 million.

"We've been running in the last 14, 15 months with the small-medium acquisitions every two or three months," Guerra told analysts. "I think that we can keep (this) up."

Luxottica opened 150 stores in the first quarter and plans to remodel about 40 LensCrafters stores in the second quarter as part of an effort to revamp the locations.

As for Oakley, any sale would depend upon the willingness of the company's founder and chairman, Jim Jannard. Jannard, 57, owns more than 64 percent, or 44.5 million shares, of Oakley's outstanding stock, according to the company's annual proxy, filed in April.

"I don't see Oakley being purchased in the near future," said Cole Kimball, an analyst who covers Oakley with William Smith & Co. in Denver.

Still, rumors persist. There had been, for example, earlier speculation that a private equity firm might be interested in buying Oakley. Those rumors have not been substantiated.

Im so against this. I wouldnt want Oakley to be under ownership and run by another company. I could just see it. Sales will go down and products will get shity. I hope Jannard wont sell

Here in Holland, this rumour has been coming around pretty much every year. I'm getting used to it and don't worry.
Hate the thought, though!

I hope this is only a rumor and not a fact. I don't wanna see more stuff like the Nano Wire 3.0 and other "fancy" desinger pieces.

nooooooooooooo..........
Man if this happens, will oakley as we know it die?
jim.. if your reading this or visiting the review..
please, just say noo.

i seriously doubt that jim jannard will sell his company to long time competitors,

However, since RED is his main focus now, i wouldnt be surprised if he took the cash ( probably a couple 100 million dollar ) and went on with that.

i for one, hope that he will focus more on oakley , and NEVER sells this great brand.
Who owns the majority of the other 40% ? the board of directors ? shareholders ? investors ?

From what my local Rep tells me, this is not going to happen. Luxottica has eyes on everything all the time apparently, and that it's a rumour that keeps going around as Edwin said.

I was "WHAT THE" when i first heard of it, but now firmly believe that Oakley will stay as is!

Excluding the 65% held by JJ, Oakley's holding breakdown is pretty well spread across instos and mutuals - check out http://finance.yahoo.com/q/mh?s=OO

Bottom line is nothing's going to happen with JJ's approval.

And JJ's holding is worth around $0.9bn at market (before you add in the control premium)

Yeah, sounds just like a rumour making the rounds.

Superficial thought: when you or I don't like something from Oakley, it stays opinion, that's fine, we can discuss on the forum all the different things Oakley is doing. But if this happened, then anything Oakley then made that people didn't like would be dismissed with "See! That's Luxottica's fault" whether it was or not.

Regardless, hopefully the mad science remains 'without adult supervision.'

if it were to happen (god forbid) then oakley will most likely loose it indivduality and become one of the thousnds that are just followers and no longer a leader. if that were to happen i dont know that i would continue to buy oakley.
Q

My bigger worry would be the fact that Lux would most likely lease out Oakley's technologies to other brands etc. This would cause a massive intellectual decompression within the company causing it to lose it's edge and release products that would undoubtably be subpar as well as "spilling the beans" on the thousands of patents etc. that Oakley owns.

That said this whole thing smacks of marketeering, I think Lux is just trying to inflate their stocks by leaking unfounded rumors.

hopefully the mad science remains 'without adult supervision.'

AMEN to that!

Please god......NO!!!!!!!!!!

Message for Mr. Jannard:

DON'T SELL OUT TO THE PUPPETS OF MEDIOCRITY - EVER.

Come on guys, is this even an issue? It's as likely as Steve Jobs selling off Apple.

They may want Oakley, but I really doubt that it's even a consideration. I'm sure offers from Luxottica have been made, but they'll probably have their hearts broken.

when jim started oakley he started something that is diffrent, that stands out and does not conform. when the glasses came along he changed to world and stood out. look at the gas store glasses next time your in, they are all knock offs of the oakley designs. look at the over the tops and he medusa they arent there to be number one sellers they are they to make a mark, to make a statment they dont fit in they stand out and get noticed. jim and the company continue to do that in there glasses and the other product that are in the oakley line i mean look at there bags. if luxotica i offering to buy then they will most likely absorb the company changing it in to what they think is best but if they are interested it is because holds a large part of the market for a reason so why change it i dont belive that oakley will be sold for there reasons. jim started something that has a massive following around the world. there is a dedication from us on the extreme end of things and the every day person that buy oakkley that it has to be oakley you dont here that about any other brand. so to sell means that it is just another pair of sunglasses.

OH MY GOD. It has happened. I dont even know what to say.

http://investor.oakley.com/phoenix.zhtml?c=67365&p=irol-newsArticle&ID=1017819&highlight=

Oakley
R.I.P??????
1975-2007

Collection FOR SALE!!!!!! F LUXOTICA

And another company to be destroyed by Luxottica. Fantastic.

ok i was wrong. MAN DOES THAT SUCK!!!!!!!!!!! i just hope things dont change!!

Just the thought of other companies like Rayban using and profiting from Oakley's Tech makes my skin crawl. Guess there is a lesson to be learned....everyone has a price.