Oakley History: Founding, Timeline, and Milestones - Zippia (2024)

In 1980, Jannard released a pair of goggles called the O-Frame.

The distributor would be renamed Oakley U.K. Based outside London, England, Serval Marketing had been Oakley's exclusive U.K. and Irish distributor for 15 years, since 1981.

In 1983, Oakley began selling ski goggles.

The first Oakley sunglasses; Factory Pilot Eyeshades, were sport-oriented, resembling goggles and were released in 1984.

This frame was designed primarily for motorcycle riding. It wasn't until 1984 that the brand decided to branch out into eyewear, when its creator discovered that the innovative material he used for motorcycle handlebars could also be used to create eyewear.

In 1985, Oakley released the Frogskins – their first lifestyle frame on the market.

These were followed in 1985 by the Oakley Frogskin, a casual sunglass style that was made in Japan.

Cyclist Greg Le Mond wore Oakley sunglasses in 1986 on his way to winning the Tour de France, becoming the first of many star athletes to be associated with marketing Oakley sunglasses.

In 1990 the company had net income of $7.7 million on sales of $68.6 million.

But in 1992, Jannard purchased a 3D printer that would forever change the silhouette and design of Oakley sunglasses.

Takumi: Jim bought the third 3D printer ever made around 1992.

Agassi wore Oakley's Eye Jackets brand, which were introduced in December 1994.

By the end of 1994, the company made eight lines of sunglasses and three lines of goggles, accounting for a 13 percent market share of the United States premium (over $30 retail) sunglasses business.

Sales for the first half were 37 percent above sales for the first half of 1994.

They sold for about $130 a pair in 1995.

Starting with the basic Blades brand, which retailed for around $110 plus $60 for each additional coated lens in 1995, the company developed other product lines.

The year 1995 began well.

Oakley had some 320 patents issued or pending worldwide, plus 249 registered trademarks, as of 1995.

In January 1996 Oakley unveiled plans for its new "interplanetary corporate headquarters," to be located on 40 acres in Foothill Ranch in Orange County.

Oakley held its first-ever annual meeting for shareholders at El Toro, California, in June 1996.

Closing out a very eventful year, three shareholders filed a class-action suit in December against Jannard and Michael Parnell, Oakley's two top executives, charging they misrepresented the state of the company's operations to take advantage of Oakley's secondary stock offering in June 1996.

In early 1996, Oakley had a pricing dispute with Italian company Luxottica, the world's largest eyewear manufacturers and retailers.

Pursuing an aggressive strategy to achieve direct distribution in its international markets, Oakley began such an operation in Japan in May 1997.

In September 1997 Link Newcomb, who had been the company's COO, was promoted to CEO, replacing Parnell, who was named vice-chairman.

A further diversification of the product line came in December 1998 when Oakley introduced its first wristwatch, the Time Bomb, which retailed for between $1,300 and $1,500.

Other 1998 moves included the purchase of the Oakley division of its Canadian distributor.

In July 1999 Oakley established its first retail outlet, opening the first O Store in Irvine, California.

By 1999 sales to Sunglass Hut would account for only about 23 percent of Oakley's sales.

The year 1999 turned out to be a turbulent one for Oakley as the shoe line, which was not yet profitable, proved to be a drag on earnings.

By late 2000, meanwhile, the good news coming out of the Foothill Ranch headquarters sent the company stock soaring; it tripled in value from its level of a year earlier.

Revenues for 2000 increased 41 percent, hitting $363.5 million, and profits skyrocketed 83 percent, to a record $51.1 million.

Oakley further broadened its distribution channels in early 2002 when it began opening "concept shops" in Macy's West and Parisian department stores featuring Oakley products from all of the company's product categories.

Ultimately on June 21, 2007, the Oakley world changed forever when Luxottica purchased the company for over $2 Billion.

At that point, Oakley was in the tens of millions of dollars in sales, yet by 2009 they hit one billion and were aiming for two billion the following year.

In 2015, Oakley Prizm Lenses were released and changed sports optics forever.

James Jannard