Latest Headlines

  • TikTok
    Article

    U.S. delays TikTok ban to Sept. 27 as Trump gives blessing to deal with Oracle, Walmart

    2020-09-21T05:25:00Z

    The U.S. Department of Commerce said that it has delayed until Sept. 27 the prohibition of the Chinese mobile application TikTok . The department had previously announced that the ban would start today. The decision comes after U.S. President Donald Trump said he had given his “blessing” to ...

  • EssilorLuxottica logo
    Article

    ​EssilorLuxottica, Facebook plan to launch Ray-Ban smart glasses in 2021

    2020-09-17T13:04:00Z

    EssilorLuxottica and Facebook plan to launch a pair of Ray-Ban branded smart glasses in 2021. The two companies have entered a multiyear collaboration to develop the next generation of smart glasses. The announcement was made by Mark Zuckerberg , the founder and chief executive of the ...

  • Safilo_logo
    Article

    Safilo secures €108.0 million government-backed financing

    2020-09-16T11:16:00Z

    Safilo signed of a new term loan facility totaling €108.0 million which provides it with additional liquidity to finance its working capital and investment needs for activities located in Italy. The financing is guaranteed at 90 percent by the Italian export credit agency Sace . On April 8, ...

  • marcolin HQ
    Article

    Marcolin signs on Max Mara

    2020-09-15T15:40:00Z

    Unsurprisingly, Marcolin has signed a licensing agreement for the design, production and worldwide distribution of Max Mara sunglasses and eyeglasses. The partnership with the Italian fashion house has a five-year duration starting from Nov. 1, and enlarges Marcolin’s product offer for the womenswear market. It follows last ...

  • christian-wiediger-rymh7EZPqRs-unsplash
    Article

    Amazon: The Janus-faced company

    2020-09-11T05:59:00Z

    The current Covid-19 crisis has accelerated Amazon ’s consumer goods business exponentially. The Silicon Valley giant doubled its profits in the second quarter of this year and increased its turnover to nearly $89 billion. The share value has also nearly doubled since the middle of March. On Sept. 1, Amazon ...

  • nordstrom-bp-pride-collection 2
    Article

    LGBTQ collections become mainstream for the fashion, sportswear industry

    2020-09-10T05:56:00Z

    The LGBTQ (lesbian, gay, bisexual, transexual and queer) fashion market has been growing over the last decade. In recent years, an unprecedented number of mainstream brands have begun to release LGBTQ collections.

  • Article

    Novartis, Roche, Genentech fined €444.85 million in France in AMD treatment case

    2020-09-09T16:20:00Z

    The French competition authority, Autorité de la concurrence , has fined the pharmaceutical groups Novartis , Roche and Genentech, a combined €444.85 million for abuse of dominant position to impose the use of the drug Lucentis over its cheaper alternative Avastin in the treatment of age-related ...

  • EssilorLuxottica logo
    Article

    ​Luxottica produces anti-Covid masks for Italian government

    2020-09-09T16:17:00Z

    Luxottica , the Italian unit of the Franco-Italian eyewear company EssilorLuxottica , said that it has started the large scale production of face masks to help prevent the propagation of the Covid-19 pandemic. The company has already delivered a first batch of 3.5 million items as part of a government-sponsored ...

  • CooperVisionlenses
    Article

    CooperVision Q3 sales down by 12%

    2020-09-09T08:24:00Z

    CooperVision (CVI) saw a 12 percent drop in sales to $449.3 million in the third quarter of CooperCompanies ’ financial year, which ended on July 31, and the division’s gross margin narrowed to 61 percent from 65 percent a year earlier owing to the impact of the Covid-19 pandemic. ...

  • EssilorLuxottica logo
    Article

    Essilux to appeal Dutch court ruling on GrandVision

    2020-09-04T06:34:00Z

    EssilorLuxottica has decided to file an appeal against a judgment dismissing its request for disclosure of information from GrandVision . The company repeated that it is concerned about GrandVision’s behavior in “continuing to deny access to important information” related to its handling of the Covid-19 outbreak. “Legal ...

  • 172_social3_01_147324_crop
    Article

    ​Executive Survey: Optical industry braces up for a difficult spring/summer 2021 season

    2020-09-01T06:00:00Z

    The optical industry is expecting a significant decline in demand for spring/summer 2021 collections as the world economy still reels from the blow of the Covid-19 pandemic. Nevertheless, many are maintaining comprehensive collections and relying on digital tools to defend or develop their businesses, according to an executive survey carried ...

  • Tokyo
    Article

    Tokyo IOFT confirmed, reaches out to international brands

    2020-08-31T19:12:00Z

    Encouraged by the local industry’s support, a return to a normal level of retail activity and the fact that trade shows in other sectors have recently taken place in Japan, the organizers of the Tokyo IOFT eyewear show have confirmed that this year’s edition would take place as scheduled ...

  • EssilorLuxottica logo
    Article

    EssilorLuxottica ready to pursue lawsuit against GrandVision after losing first round

    2020-08-25T09:51:00Z

    Yesterday, a Dutch district court rejected EssilorLuxottica ’s request to obtain information from GrandVision to determine whether the Dutch retailer had breached the terms an agreement in view of its takeover by Essilux. The court said that the large volume of corporate information that Essilux is seeking to ...

  • Selfridges
    Article

    ​Selfridges launches Project Earth

    2020-08-24T12:17:00Z

    Selfridges has launched Project Earth, an initiative which explores “more sustainable ways to shop” by setting new sourcing standards and creating repair, resale and rental businesses. Under the scheme, the British department store pledges that by 2025 it will only stock products that respect its new sourcing standards ...

  • Brexit (Rocco Dipoppa)
    Article

    German optics industry calls for stripped-down free trade deal between U.K., EU

    2020-08-24T07:53:00Z

    Spectaris , the German industry association for optics, photonics, analysis and medical technology based in Berlin, called for a “stripped-down” free trade agreement between the U.K. and the European Union to avoid the parties failing to strike a deal, which would lead to a so-called hard Brexit. “Better a ...

  • Alcon
    Article

    Alcon’s Q2 vision care sales down 27% driven by contact lenses

    2020-08-23T06:50:00Z

    In the second quarter of 2020, Alcon ’s vision care division, which includes the contact lens and ocular health businesses, posted an 27 percent decrease in net sales to $596 million. At constant currency rates, the decline reached 25 percent and was primarily driven by lower demand and widespread closures, ...

  • Thai Optical Group
    Article

    Thai Optical Group to set up TOG Europe

    2020-08-21T15:41:00Z

    Commenting on its second-quarter financial results, Thai Optical Group (TOG) announced that it will establish a new distribution center for Europe in Poland. According to the lens maker, the new structure is scheduled to be operational before the end of the year and will help to increase business opportunities ...

  • EssilorLuxottica logo
    Article

    Essilux launches EssilorLuxottica 360 in the U.S. as group speeds up integration

    2020-08-20T16:16:00Z

    Essilor and Luxottica , respectively the lens and frame subsidiaries of EssilorLuxottica , and Luxottica’s managed vision care unit EyeMed , created EssilorLuxottica 360, a new joint program that they claim will drive growth for independent eyecare professionals (ECPs) across the U.S. This is a concrete sign ...

  • Krasnodar Krai 2
    Article

    Eyewear market is strong on the Russian south

    2020-08-14T15:33:00Z

    Sales on the Russian eyewear market are yet to recover to the pre-crisis level, but in some regions, the picture is better than in the others. For instance, the demand for eyewear in the Russian south, primarily in Krasnodar Krai, is higher than usual at this time of the ...

  • Brooks Brothers
    Article

    ABG, SPARC picked to buy Brooks Brothers for $325 million

    2020-08-12T11:40:00Z

    The iconic American apparel group Brooks Brothers has selected Authentic Brands Group (ABG) and its partially owned retail unit SPARC as the winning bidders of a competitive sale process after they increased their offer to $325 million for the vast majority of the company’s global business operations as ...