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bonyadi magazine
EssilorLuxottica considers relocating production from Asia to the U.S. amid trade policy changes
EssilorLuxottica, the Franco-Italian eyewear maker behind brands such as Ray-Ban, may move part of its production to the United States in response to U.S. tariffs, CEO Francesco Milleri said on Wednesday
"We won't rush a decision," Milleri told a shareholders' meeting of the group in Paris, adding that “in three or four months the situation could be clearer
This month, U.S. President Donald Trump, in a surprising reversal, said he would temporarily reduce the hefty tariffs previously imposed on dozens of countries
“When the situation stabilizes, we'll understand which kind of manufacturing we can move to the U.S. because it's not only a matter of timing and investment but to find [workers with] the right capabilities,” Milleri said, adding that for this reason, production based in Italy and France cannot be moved.
“We can really think about moving from Thailand and Mexico. But we don't want to move too early,” he added
The group already runs several manufacturing sites in the United States
Milleri also confirmed that the company is actively exploring acquisition opportunities. “M&A is in the DNA of our company. We have many dossiers on the table—small, mid-size and big companies. We need to add many more competencies and technologies to our portfolio,” he said
He added that he is confident EssilorLuxottica will be able to finalize some strong deals this year and next
Looking ahead, Milleri said the group is willing to reinforce its chip design capabilities, expand into the treatment and care of eye diseases and invest in artificial intelligence services
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