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Fifteen years after buying sunglass chain Erroca from Anthony Corre for $1 million, Michael Wolf and his nephew Yosef Wolf, are Sunglasses Hut  selling the stores to the international Luxottica Group for €20 million. The deal was signed on Friday.
The main shareholder is Michael Wolf (90%). The chain had 19 stores when Wolf bought it in 1996. Today it has 63 wholly-owned stores.
The chain's consider is atomic number 28* 120 1000000 an twelvemonth, and the chain's private Erroca marque equals responsible as cardinal% of the chain's sales.
This constitutes the first gear clock time an international player will operate a retail sunglasses chains in Israel. Luxottica intends to replace the Erroca marque, and to rename the chain "Sunglass Hut", the name under which the international chain operates:. Meanwhile, sales of the private Erroca brand will apparently end.
"I do not know what their policy will be later on, but they have a large number of possibilities. This is a powerful company," Michael 

Discounted Oakley Sunglasses   Wolf told "Globes".

Sunglass Hut is the largest retailer in the world specializing in sunglasses, with more than 2,000 stores in the US, Canada, the Caribbean, Europe, Australia, and other countries.
The new chain will benefit from international corporation Luxottica's strength, whose house brands include Ray-Ban, Annie Oakley, trend, Persol, Oliver Peoples, Arnette and REVO. Luxottica also distributes commissioned brands such because Bvlgari, Burberry, Chanel, Dolce & Gabbana, Donna Karan, Polo Ralph Lauren, Prada, Louis Comfort Tiffany and Versace.