![]() Oakley donated 35 pairs of its Radar sports glasses, fitted with specially selected tints. This move also moved Oakley's manufacturing out of the US and its frames and many portions of its sunglasses products began to be produced in China.ĭuring the preparations for the ultimately successful rescue of thirty-three miners trapped for ten weeks in a Chilean mine in October 2010, a journalist covering the story contacted Oakley about donating sunglasses to the rescue effort, aware that the miners would need eye protection after having spent weeks in darkness. Luxottica's acquisition of Oakley was criticized as a potential violation of antitrust laws. After the sale, founder James Jannard went on to found Red Digital Cinema. The deal was completed on November 15, 2007, making Oakley part of a portfolio that includes brands such as Ray-Ban, Persol, and Vogue. On June 21, 2007, Luxottica announced a plan to purchase Oakley in a cash deal worth $2.1 billion, paying a 16% premium over the extant share price. (ESS), another major manufacturer of tactical eye protection, for US$110m. Later in 2006, Oakley acquired Eye Safety Systems, Inc. In 2006, Oakley acquired the Oliver Peoples group, a manufacturer of high-end fashion branded eyewear (under the Oliver Peoples, Mosley Tribes, and Paul Smith brands) for $55.7m, and Optical Shop of Aspen, a luxury eyewear retailer with fourteen stores. Starting in 2004, Jannard bought large quantities of Oakley stock: $2 million in 2004, $16 million in 2005, and $4.6 million in early 2006, bringing his personal stake in the company to 63%. Oakley signed a four-year agreement to manufacture eyewear designed by themselves and Fox Racing in September 2004. In 2001, Oakley bought Iacon, Inc., operator of mall-based sunglasses stores Sunglass Designs, Sporting Eyes, and Occhiali da Sole. Luxottica stopped carrying Oakley's products in their stores, including Sunglass Hut, and Oakley's stock market value declined 33%. In early 1996, Oakley had a pricing dispute with Italian company Luxottica, the world's largest eyewear manufacturers and retailers. The company went public in 1995, raising $230 million. These were followed in 1985 by the Oakley Frogskin, a casual sunglass style that was made in Japan. The first Oakley sunglasses Factory Pilot Eyeshades, were sport-oriented, resembling goggles and were released in 1984. In 1983, Oakley began selling ski goggles. With the 'Oakley' logo present on the strap, the brand garnered increasing recognition and prominence throughout the sports industry. ![]() In 1980, Jannard released a pair of goggles called the O-Frame. ![]() Oakley went on to produce number plates, gloves, grips, elbow guards, chin guards, and goggles for the BMX and motocross communities. The material is still used to make the earsocks on Oakley glasses, and many of the nose pieces and now the bands of their watches. His motorcycle grips were unlike other grips available at the time. Jannard began by selling what he called 'The Oakley Grip' out of the back of his car at motocross events. The name "Oakley" came from Jim's English Setter, "Oakley Anne". Oakley was started by James Jannard in 1975 in his garage with an initial investment of $300. Oakley currently holds more than 600 patents for eyewear, materials, and performance gear. Most items are designed in house at their head office, but some countries hold exclusive designs relevant to their market. The company designs, develops and manufactures sports performance equipment and lifestyle pieces including sunglasses, safety glasses, eyeglasses, sports visors, ski/snowboard goggles, watches, apparel, backpacks, shoes, optical frames, and other accessories. Oakley, Inc., based in Lake Forest, California, is an American company operating as an independent subsidiary of EssilorLuxottica.
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