The Office of Fair Trading (OFT) has published its decision clearing Luxottica SpA’s proposed acquisition of Oakley Inc. Luxottica and Oakley are both active in the market for sunglasses and frames for prescription glasses. Luxottica owns a number of sunglass manufacturing brands, including Ray Ban, which directly compete with Oakley’s sunglasses and frames for prescription glasses. Luxottica also was active in the downstream market for the wholesale supply of frames for sunglasses and prescription glasses. Luxottica also had a presence in the downstream retail market through its retail chain, Sunglasses Hut, and its interests in the David Culow chain of opticians. Oakley had its own wholesale distribution system in the UK and a certain number of retail outlets. However, the OFT in its decision of 22 October 2007 concluded that the merger did not raise significant competition concerns.