Unraveling The Mystery: Why Did Oakley Go Out Of Business?

Is Oakley making a comeback in the world of fashion and sports eyewear? According to Brian Takumi, Oakley’s Vice President of Brand Soul, the brand’s resurgence has been a well-thought-out strategy. Oakley’s return to popularity has been ongoing for a significant period now, signifying a deliberate effort to regain its status in the market. As of August 23, 2023, this resurgence seems to be continuing.

“Oakley underwent a significant change in ownership when Luxottica, a renowned eyewear conglomerate, acquired the company in November 2007 for a staggering sum of US$2.1 billion. This acquisition marked a pivotal moment in Oakley’s history, as it transitioned into becoming a subsidiary of Luxottica, one of the world’s leading players in the eyewear industry. The acquisition not only brought substantial financial benefits to Oakley but also opened up opportunities for synergies and collaborations within the eyewear sector. This strategic move by Luxottica greatly impacted the landscape of eyewear brands and reshaped the competitive dynamics of the industry.”