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Oakley
Oakley was started by Jim Jannard in 1975 in his garage with an initial investment of $300. The name "Oakley" came from Jim's English Setter, "Oakley Anne". Jannard began by selling what he called 'The Oakley Grip' out of the back of his car at motocross events. His motorcycle grips were unlike other grips available at the time. The material is still used to make the earsocks on Oakley glasses, and many of the nose pieces and now the bands of their watches. Oakley went on to produce number plates, gloves, grips, elbow guards, chin guards, and goggles for the BMX and motocross communities.[6] In 1980, Jannard released a pair of goggles called the O-Frame. With the 'Oakley' logo present on the strap, the brand garnered increasing recognition and prominence throughout the sports industry.[7] In 1983, Oakley began selling ski goggles.[8] The first Oakley sunglasses, Factory Pilot Eyeshades, were sport-oriented, resembling goggles and were released in 1984. These were followed in 1985 by the Oakley Frogskin, a casual sunglass style that was made in Japan.[6] The company went public in 1995, raising $230 million.[9] In early 1996, Oakley had a pricing dispute with Italian company Luxottica, the world's largest eyewear manufacturers and retailers. Luxottica stopped carrying Oakley's products in their stores, including Sunglass Hut, and Oakley's stock market value declined 33%.[10][11] In 2001, Oakley bought Iacon, Inc., operator of mall-based sunglasses stores Sunglass Designs, Sporting Eyes, and Occhiali da Sole.[12] Oakley signed a four-year agreement to manufacture eyewear designed by themselves and Fox Racing in September 2004.[13] Starting in 2004, Jannard bought large quantities of Oakley stock: $2 million in 2004, $16 million in 2005, and $4.6 million in early 2006, bringing his personal stake in the company to 63%.[14] In 2006, Oakley acquired the Oliver Peoples group, a manufacturer of high-end fashion branded eyewear (under the Oliver Peoples, Mosley Tribes, and Paul Smith brands) for $55.7m,[3] and Optical Shop of Aspen, a luxury eyewear retailer with fourteen stores.[15] Later in 2006, Oakley acquired Eye Safety Systems, Inc. (ESS), another major manufacturer of tactical eye protection, for US$110m.[2]
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