Editor’s note: A comment from Luxottica that was sent a few days after this story published has been added to the bottom of the story.
Big changes are coming to sunglass brand Costa as a result of the merger of parent company Essilor with sunglass giant Luxottica.
The merger in 2018 brought brands such as Oakley, Ray Ban, Costa, a host of licensed brands and retailer Sunglass Hut under one corporate umbrella.
The Daytona Beach News-Journal reported Monday that Costa, which has been growing briskly, will eliminate 295 of 350 jobs in Daytona Beach, Florida, Costa’s longtime headquarters, where it has a significant operation.
The newspaper cited a letter the company sent to city, county and state officials outlining the changes. Some sales and marketing positions will remain in Daytona Beach, however.
EssilorLuxottica executives have previously said that they planned to integrate Costa into the Luxottica brand portfolio and frame network.
The first step in that process was the departure of former CEO Holly Rush in October of this year. In the Luxottica model, individual brands do not have CEOs.
The coming integration calls for Costa to close two corporate headquarters buildings comprising 76,000 square feet along with a 50,000-square-foot packing and distribution center in Daytona Beach, according to the newspaper.
The layoffs are expected to start in February 2020, with most of the Daytona operation closing by the end of September 2020.
Overall, EssilorLuxottica brought together two eyewear giants and now has nearly 150,000 employees and consolidated revenues of €16.2 billion.
Costa is a top-performing brand for many industry retailers, particularly in the Southeast.
The brand, which is known for the quality of its lenses and is especially popular with hardcore fishermen, recently revamped its product line and marketing to appeal to the West Coast as well, and has begun to make headway in the region.
We have a request in to Costa for comment on the changes in Daytona Beach, but have not yet heard back.
A Luxottica spokeswoman sent us this comment post publication.
“Costa is an incredibly special and unique brand and we see great growth potential for it in the future. EssilorLuxottica’s decision to integrate Costa into the Luxottica portfolio will allow the brand to fully leverage Luxottica’s strengths in everything from product innovation to manufacturing to supply chain and distribution networks, helping it reach its full potential.
“As a result of the integration, there are several areas of overlap that will be impacted. While we made every effort to minimize this, many functions and roles will be moved to New York, Atlanta and Foothill Ranch over the coming months.
“This is not a decision the company took lightly, and we are approaching the coming transition period with great care and respect for our people.”
