Luxottica Group S.p.A. is an Italian eyewear conglomerate and the world's largest company in the eyewear industry. It is based in Milan, Italy. As a vertically integrated company, Luxottica designs, manufactures, distributes and retails its eyewear brands, including LensCrafters, Sunglass Hut, Apex by Sunglass Hut, Pearle Vision, Target Optical, Eyemed vision care plan, and Glasses.com. Its best known brands are Ray-Ban, Persol, and Oakley. Luxottica also makes sunglasses and prescription frames for designer brands such as Chanel, Prada, Giorgio Armani, Burberry, Versace, Dolce and Gabbana, Miu Miu and Tory Burch. In January 2017, Luxottica announced a merger with Essilor. The combined entity would command more than one quarter of global value sales of eyewear. In March 2018, the European Commission unconditionally approved the merger of Essilor and Luxottica. On 1 October 2018, the new holding company EssilorLuxottica was born, resulting in combined market capitalization of approximately €57 billion.