EssilorLuxottica SA has bought a 5.1% stake in Nikon, causing a boost in the imaging giant's shares.
According to Reuters, the Franco-Italian holding company, which owns luxury eyewear brands including Ray-Ban, Oakley and Persol, invested €170 million (approximately $187 / £142 / AU$275 million) in Nikon – and it's had an immediate effect on the imaging company's stock.
The investment was made on October 08 and Google Finance lists an 11.36% Nikon share since then. The closing price reached a high on October 11 of ¥1,802.50 ($12.03 / £9.22 / AU$17.89), the highest in over a year.
The eyewear giant's stake in Nikon comes during a lengthy period of growth for the Japanese camera manufacturer, with a 29.85% increase over the past five years.
And while this pales in comparison to Canon's 76.29% increase over the same period, it's worth remembering that Nikon has managed to turn its fortunes around following a tumultuous financial year in 2021, in which it reported a whopping $262 million in losses.
Since then we've seen the release of the Nikon Z9, Z8, Zf and Z6 III, as well as the huge acquisition of Red Digital Cinema, and the 'Big N' is definitely on the up. It certainly looks like EssilorLuxottica agrees, too, with Reuters reporting that the holding company "sees 5% stake in Nikon as financial investment".
It's worth noting that Ray-Ban currently makes Meta sunglasses, featuring wearable cameras. It's also worth noting Nikon Rumors' report that Meta is considering its own 5% investment in EssilorLuxottica.
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This isn't the first time Nikon and EssilorLuxottica have crossed paths, either, with the formation of Nikon-Essilor at the turn of the millennium, a 50/50 partnership largely centered around optical research. But the cross-pollination between brands doesn’t stop there, as Oakley founder Jim Jannard also founded Red Digital Cinema. Oakley was subsequently bought by Luxottica in 2007 and Red was bought by Nikon in 2024. Small world.
If you're relishing Nikon's good fortunes, you might be interested in the best Nikon cameras, or the best Nikon lenses.
