Oakley

EXECUTIVE SUMMARY

Oakley was named the Official Eyewear of Team USA and Official Eyewear of the LA28 Olympic and Paralympic Games in June 2023. Owned by EssilorLuxottica (the world's largest eyewear company, ~30% global market share, ~EUR 25.4 billion revenue), Oakley brings deep athletic credibility and five decades of sport performance innovation to the partnership.

While this is Oakley's first formal Olympic Games sponsorship, the brand has outfitted Olympic and Paralympic athletes for decades through individual athlete deals. The LA28 partnership formalizes and elevates that presence. Notably, Oakley is headquartered in Southern California (Foothill Ranch, Orange County), making LA28 a genuine home-turf Games. The brand is also celebrating its 50th anniversary during the partnership period, adding narrative depth.

1. OLYMPIC HISTORY & MARKETING PRESENCE

1.1 Partnership Timeline & Evolution

Oakley's relationship with Olympic athletes long predates the formal 2023 partnership. The brand has sponsored individual Olympians across cycling, track and field, skiing, snowboarding, beach volleyball, triathlon, and other disciplines for decades. Athletes wearing Oakley eyewear on Olympic podiums became a recurring visual association without any official designation.

Key milestones: - 1975: Founded by Jim Jannard in Southern California - 2007: Acquired by Luxottica for approximately $2 billion - 2018: Luxottica merges with Essilor to form EssilorLuxottica - June 2023: Named Official Eyewear of Team USA and LA28 Olympic and Paralympic Games - 2024: Equipped Team USA athletes at Paris 2024, including Trinity Rodman (soccer) and Oksana Masters (17-time Paralympic medalist) - 2025: Expanded to USA Football multi-year partnership through LA28; first-ever official national team apparel sponsorship (Canada and Finland freestyle snowboard) - 2025: Launched Oakley Meta performance AI glasses with Meta (following Ray-Ban Meta success)

1.2 Milano Cortina 2026

Oakley has no formal Milano Cortina 2026 event sponsorship (EA7 Emporio Armani is the official eyewear partner of the Games). However, Oakley is activating through its Team USA partnership:

• Athlete gear packages: Every Team USA athlete received three pairs of Oakley sunglasses as part of their official Olympics gear haul for the 2026 Winter Games.
• Aura Collection: Oakley timed the launch of its new high-performance equipment collection, Aura, to coincide with the global winter sports event.
• Athlete visibility: Oakley-sponsored winter athletes across skiing, snowboarding, and other disciplines provide significant on-screen brand exposure during competition.

1.3 Signature Programs

• Team Oakley: Roster of elite athletes across sports, many of whom are Olympians and Paralympians
• Prizm Lens Technology: Performance lens technology positioned as competitive advantage for athletes in variable light conditions
• Team USA Eyewear Collections: Dedicated product lines (Encoder Strike Vented, Heliostat) designed for Olympic competition

2. LA28-SPECIFIC INITIATIVES

2.1 Announced Plans & Positioning

• Official Eyewear designation for both Team USA and the LA28 Games, covering all competition, training, and ceremonial contexts
• Team USA x Oakley product line: Custom eyewear collections for athletes and retail consumers
• USA Football partnership: Multi-year deal running through LA28, coinciding with flag football's Olympic debut at LA28
• Diana Flores signing: Oakley signed the global flag football star, connecting the brand to one of LA28's most anticipated new sports
• Southern California hometown narrative: Oakley's Foothill Ranch headquarters is approximately 40 miles from central LA28 venues

LA28 Venue Context: The Games will use 40+ competition venues across the LA metro area, with a dual-venue Opening Ceremony shared between the LA Memorial Coliseum and SoFi Stadium (announced May 2025). LA28 will be the first Games since 1948 built entirely on existing infrastructure. The Games dates (July 14-30 for Olympics; August 15-27 for Paralympics) coincide with peak Southern California sun exposure, making performance eyewear functionally essential for outdoor sports. Flag football will debut at the Rose Bowl in Pasadena. Oakley's Prizm Lens Technology is positioned as a competitive advantage in LA's bright, variable light conditions.

Cross-Partner Synergies: Three pairs of Oakley sunglasses are included in each Team USA athlete's Nike gear package at Milano Cortina 2026, a model expected to continue at LA28. This cross-brand integration between Oakley and Nike (both LA28 partners) amplifies athlete visibility for both brands during ceremony and training contexts.

2.2 Regulatory/Market Context

EssilorLuxottica's dominant market position has drawn antitrust scrutiny in Europe and the U.S., though this has not directly affected sponsorship activities. The company's expansion into smart eyewear (Oakley Meta, Ray-Ban Meta) positions it at the intersection of sport performance and consumer technology, potentially adding a tech dimension to LA28 activations.

3. EXECUTIVE LEADERSHIP & DECISION-MAKERS

3.1 C-Suite Leadership

Oakley operates as a brand division within EssilorLuxottica. Key corporate and brand leadership:

• Francesco Milleri: Chairman & CEO, EssilorLuxottica (since June 2022). Succeeded founder Leonardo Del Vecchio. Driving expansion into wearable technology, notably the Meta smart glasses partnership ($3.5 billion Meta investment in 2025). Awarded "Cavaliere del Lavoro" by Italy's President in 2025.
• Paul du Saillant: Deputy CEO, EssilorLuxottica
• Mahmoud Ali: CEO, Oakley. Leads brand-level strategy and operations.
• Bruno Garcia: VP of Marketing, Oakley
• Travis Scott: Chief Visionary Officer, Oakley (appointed 2025). Rapper and cultural figure engaged to shape creative direction and brand positioning for younger audiences.

3.2 Olympic Partnership Leadership

Not publicly disclosed. The Team USA and LA28 partnership was announced through the USOPC, suggesting coordination between EssilorLuxottica's sports marketing division and the USOPC's corporate partnerships team.

3.3 Board Members with Relevant Experience

EssilorLuxottica board composition reflects the 2018 Franco-Italian merger. The late Leonardo Del Vecchio (founder, Luxottica) was instrumental in building the sports portfolio that includes Oakley.

4. AGENCY & CREATIVE PARTNERS

4.1 Agency Model

EssilorLuxottica maintains a mix of in-house creative capability and external agency relationships. Oakley's marketing has historically been driven by strong in-house creative with an emphasis on athlete-led storytelling and product-centric content.

4.2 Known Agency/Partner Relationships

• Meta - Technology partner for Oakley Meta AI glasses (June 2025 launch)

• USOPC / USA Football - Institutional partners for athlete access and event rights

• iProspect (Dentsu): Digital agency of record for Oakley, handling performance marketing across most digital channels

• Specific traditional advertising agency-of-record relationships for Oakley are not publicly disclosed as of February 2026.

4.3 Notable Creative Executions

• Kylian Mbappe campaign: Featured the global football star in Oakley Enigma optical marketing
• Oakley Meta launch: AI-powered performance glasses combining Meta's technology with Prizm lenses
• Paris 2024 athlete outfitting: Team USA athletes prominently wearing Oakley across competition and ceremonies

5. COMPETITIVE POSITIONING

5.1 Market Share & Competitive Landscape

EssilorLuxottica controls approximately 30% of the global eyewear market. Within sports performance eyewear specifically, Oakley's primary competitors include:

• Nike Vision (licensed to Marchon)
• Under Armour (licensed)
• Smith Optics (owned by Safilo)
• 100% Speedcraft (independent, popular in cycling)
• Rudy Project (Italian, strong in triathlon/cycling)

Oakley's 50-year heritage, 900+ patents, and Prizm lens technology give it a dominant position in the sport performance segment. None of these competitors hold Olympic sponsorships at any level. Oakley's parent EssilorLuxottica (~EUR 25.4 billion revenue) provides the financial and distribution infrastructure that smaller sport eyewear brands cannot match.

5.2 Olympic Sponsorship Differentiation

No other eyewear brand holds an Official designation with LA28 or the USOPC. Oakley's position is category-exclusive. The brand's decades of athlete relationships, now formalized as an official partnership, create a credibility advantage that no competitor could quickly replicate. Oakley eyewear is included in Nike's Team USA gear packages (three pairs per athlete for Milano Cortina 2026), creating a built-in distribution mechanism through a fellow LA28 partner.

5.3 Key Brand Messaging

• "Be Who You Are": Brand positioning emphasizing individual expression through sport
• Performance innovation: 50 years of sport-specific design and lens technology
• Athlete credibility: Authentic relationships with elite competitors, not just endorsement deals
• Southern California DNA: Heritage tied to action sports, surf, skate, and mountain culture

6. KEY METRICS & BUSINESS CONTEXT

6.1 Financial Performance

Oakley reports within EssilorLuxottica, which does not break out brand-level revenue:

• EssilorLuxottica FY2024 Revenue: EUR 26.5 billion (up ~6% vs. FY2023 at constant exchange rates)
• EssilorLuxottica FY2024 Adjusted Net Profit: EUR 3.1 billion
• Q4 2024 Revenue: EUR 6.8 billion (up 5.5% at constant exchange rates)
• Oakley share: Estimated at approximately 5% of group revenue (~EUR 1.3 billion)
• EssilorLuxottica Market Cap: ~EUR 115 billion (Euronext Paris: EL, February 2026)
• Global Market Share: ~30% of global eyewear market
• Key Growth Drivers: Smart eyewear (Ray-Ban Meta partnership with Meta Platforms) and direct-to-consumer channel expansion

6.2 Olympic Period Performance

No Olympics-specific financial data has been reported for the Oakley brand. The Paris 2024 Games, where Oakley outfitted Team USA for the first time as official partner, would be the first measurable data point, but results have not been separately disclosed.

APPENDIX: KEY SOURCES

Official Sources

• LA28 Newsroom: Oakley Outfits Team USA Setting the Stage for LA28
• USOPC: Oakley Official Eyewear Partnership (June 2023)
• Oakley Media Hub: USA Football Partnership, Diana Flores Signing
• EssilorLuxottica Corporate Website

Industry Analysis

• Inside The Games: Oakley to be official eyewear partner of LA28 and Team USA
• SportBusiness: Oakley adds official eyewear designation
• Sportcal: Oakley in as LA28 and Team USA partner
• CEO Weekly: How EssilorLuxottica and Oakley Are Leading the Way

Financial Filings

• EssilorLuxottica Q1 2025 Revenue Press Release
• EssilorLuxottica H1 2024 Revenue Press Release

End of Research Brief