Oakley was started by James Jannard in 1975 out of 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.. Oakley, based in Foothill Ranch, California, is an American company that designs, develops and manufactures sports performance equipment and lifestyle pieces including sunglasses, sports visors, ski/snowboard goggles, watches, apparel, backpacks, shoes, optical frames, and other accessories. Most items are designed in house at their head office, but some countries hold exclusive designs relevant to their market. On June 21, 2007, Luxottica announced a plan to purchase Oakley in a cash deal worth $2.1 billion. Today Oakley currently holds more than 600 patents for eyewear, materials, and performance gear.