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Oakley Sold (1 Viewer)

After watching this home made success story, and speaking to the man for a good while, I think his mind is already two or three new projects ahead.
Congratulations Jim. From naming a little company after the family dog to what you have now is the perfect example of the American dream.
Good luck with the cameras, and whatever the upcoming projects may be. And if you decide to do the guitar deal, give me a holler.
The man is "First class- First time."
 
I have been wearing Oakleys for roughly 15 years. I own 7 pairs of Oakley glasses, goggles for my quad, shoes, and other appearal, Looks like I just bought my last Oakley products. Thanks Jim for making a great product and supporting the sport we love. Still have my Razor Blades.
 
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MSNBC is reporting that the Italian company Luxottica (owner of Ray Ban and Prada) is buying Oakley in a 2.1 billion dollar all-cash deal.

According to the article, the sale has been approved by both companies' board of directors.

I'd say all around good guy Jim Jannard has a wee bit of mad money to keep his drag racing interests going for a while.
Click to expand...

2.1 Billion??? WOW! Didn't Oakley start out selling moto cross gear? What a success story.
 
I couldn't be more happy for Jim and the shareholders. But concur with John Morgan that I will not buy any more Oakley products now that they are going to be a foreign owed company.

Question:

As a supplier of military hardware (optics), doesn't the sale have to be approved by Congress? Or does the level of hardware sold by Oakley not trigger that requirement? Or do they currently sell the same type of optics to other foreign entities?
 
I could see the sale impacting a government contract clause (but I would be surprised if the effect was substantial). The government can control certain technologies, but I don't think they can control the stock of the company that developed the technologies.

I've had many clients sell out at the correct time, most saying they would retire, and without exception all getting bored and executing on new ideas.

Maybe he has $125 million of fun money for Pro Racing . . . it's all about quality and building market share isn't it . . .
 
I am happy for the MadMan, or should I say MADEman... You talk about a self made man and as someone that works for a start-up, he is a great example of what hard work and determination can do. I am sure I will support the Oakley brand as long as they are in drag racing, or if Jim stays on in a consultant role for design, etc...

Congrats and Thank You Jim!
 
Wow! I don't think anyone saw this coming. If the new owners got the rights to all of Oakley's products and contracts, 2 bil seems like a bargain.
Should be interesting to see if new owners honor NHRA comittments for 2008. If not, Doc and I are gonna be very disappointed - :eek:
 
If Oakley continues to be the leader with regards to the products they market, I'll continue to use them. Why would anybody support an inferior product.

Considering Jannard's passion, I'd offer a guess that he would do all he could to insure Oakley's commitments and obligations already in place.

When I wore Ray-Bans, I never thought they were junk. Quite the opposite actually.
 
what a great story. congratulations jim.
caught the 8+ page oakley advertisement in outside magazine recently.
fantastic; i wouldn't think any company would
purposely try to downplay or hide the "O" brand identity
.......luxury brand identity to be exact
would look for the brand to remain intact with more
fantastic "O" products on the horizon.
 
My sources tell me nothing will change they want Oakley to remain the same brand with the roots remaining in SoCal. Just a new owner.

Congrats Jim on your success.
 
Just bought my first pair (Minute). Very happy with them. I was hoping to go back to wearing contacts, but that doesn't seem to be happening, so I may get RX lenses for them. Either way, best fitting sunglasses I've ever had. Congrats Jim!
 
Jer. you gonna chime in? Job intact? I'm buying my Time Tank tomorrow. Oops, I meant to say Minute Machine. :D
 
I know there's a man in his 90s somewhere whose passion in life is starting trucking companies, building them up, then selling them for a profit. Then he ends up stuck in a non-compete for however many years before he can do it again. He is currently waiting for a non-compete to run out so he can do it again!
 
I just found this and thought it was interesting...

"Merrill Lynch analyst Flavio Cereda noted that Luxottica may decide to refocus the Oakley brand just on eyewear.

"Oakley have nurtured the brand through various category extensions including footwear, apparel, watches and accessories with mixed degrees of success. The future of this is now, in our opinion, in doubt," Cereda said in a note to clients."

full article http://custom.marketwatch.com/custom/myway-com/news-story.asp?guid={328BA3D9-F617-4884-8410-8588CCA4AE01}
 
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