Today we are breaking down EssilorLuxottica, a global leader in the eyewear industry, formed by the merger of Essilor and Luxottica in 2018. Today the business sports a nearly $130 billion market cap. EssilorLuxottica represents a vertically integrated business, encompassing design, manufacturing, distribution, and retail operations across both vision care and eyewear fashion segments. To break down EssilorLuxottica, I am joined by Swetha Ramachandran who manages the Artemis ‘leading consumer brand’ strategy and is co-manager of the ‘global select’ and ‘global focus’ strategies.  Swetha analyzes the strategic rationale behind the merger, assessing how it shaped the company's competitive advantages.  We discuss the economics of prescription lenses, high-fashion sunglasses, and iconic brands like Ray-Ban and Oakley. We also explore the impact of emerging technologies like Smart Glasses, the Ray-Ban Meta glasses, and evolving consumer preferences on the eyewear market, as well as the competitive impact of upstarts like Warby Parker. Please enjoy this breakdown of EssilorLuxottica. Subscribe to Colossus Review For the full show notes, transcript, and links to the best content to learn more, check out the episode page here. ----- Octus, formerly Reorg, is the essential credit intelligence and data provider for nearly 40,000 professionals across the world’s leading buy side firms, investment banks, law firms and advisory firms. By surrounding unparalleled human expertise with embedded AI technology, data and workflow tools, Octus unlocks powerful truths that fuel decisive action in financial markets. Visit octus.com to learn how rigorously verified intelligence is delivered at speed to create a complete picture across the entire credit lifecycle.  —- Business Breakdowns is a property of Colossus, LLC. For more episodes of Business Breakdowns, visit joincolossus.com/episodes. Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes (00:00:00) Welcome to Business Breakdowns (00:04:24) Essilor Luxottica: A Unique Business Model (00:05:08) Market Leadership and Revenue Breakdown (00:08:13) The Merger: Essilor and Luxottica (00:10:18) Financial Performance and Strategic Investments (00:12:22) Challenges and Competitive Landscape (00:18:37) Global Operations and Market Strategy (00:21:04) Innovations and Future Prospects (00:22:36) Financial Analysis and Capital Allocation (00:26:11) Competitive Pressures and Market Position (00:28:47) Geographic Footprint and Strategic Growth (00:30:44) Acquisitions and Strategic Endeavors (00:32:38) Partnerships and Technological Integration (00:35:13) Summary and Key Takeaways (00:41:36) Lessons from EssilorLuxottica

 ​Today, we are breaking down the  global alternative asset manager, Apollo. I reflected on my personal experiences with Apollo for this episode, and there's a saying that hard work can beat talent when talent doesn't work hard. Well, Apollo has talent, and Apollo works really damn hard. They will do everything they can to protect their capital, so if you're on the other side of the table from them, you never feel fully comfortable. I am joined by Hunter Hopcroft, a financial analyst and writer based in New York. We get into what makes Apollo, Apollo, and Hunter share the backstory of how it was born out of Drexel Burnham and Michael Milkin’s DNA. We get into some of the early deals, the theme of craving complexity, how they differ from the KKRs or Blackstones, and the future of the industry. Please enjoy this Breakdown of Apollo. Subscribe to Colossus Review For the full show notes, transcript, and links to the best content to learn more, check out the episode page here. —-- Business Breakdowns is a property of Colossus, LLC. For more episodes of Business Breakdowns, visit joincolossus.com/episodes. Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes (00:00:00) Welcome to Business Breakdowns (00:02:49) Apollo's Current Landscape (00:07:45) Apollo's Founding and Early Days (00:10:39) Key Deals and Strategies (00:17:09) The 2000s and Financial Crisis (00:22:10) IPO and Public Transition (00:25:47) Leadership Transition to Mark Rowan (00:31:20) Rowan's Vision and Athene Merger (00:35:12) Investment Strategies of Alt Managers (00:36:28) The Athene Merger and Its Implications (00:38:30) Rowan's Breakthrough in Spread Generation (00:39:49) Innovative Asset Origination Platforms (00:44:42) Private Credit and Market Dynamics (00:46:49) The Future of Apollo and Private Credit (00:52:09) Evaluating Apollo's Business Model (01:05:33) Reputation and Evolution of Apollo (01:08:50) Lessons from Apollo