Latest Headlines

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    Article

    Covid-19 spurs rent renegotiations, partnerships

    2020-07-03T09:37:00Z

    Retailers from Europe to the U.S. have sought rent relief as they reel from Covid-19 shutdowns and reopen stores faced with higher costs to meet health and safety requirements and uncertain sales prospects. Although some landlords have taken a hard line, many are trying to help keep retail tenants afloat ...

  • Screen Shot 2020-06-28 at 5.32.00 PM
    Article

    One thing is growing faster than online fashion sales: digital CMR

    2020-06-29T05:46:00Z

    The Covid-19 pandemic has truly changed the rules of the fashion retail game, accelerating some trends that were already developing and leading to completely new scenarios that are testing the strengths of even the strongest brands. Digitilization is a major force in this scenario, but it is not growing fastest ...

  • EssilorLuxottica logo
    Article

    EssilorLuxottica sees first signs of recovery

    2020-06-26T05:47:00Z

    EssilorLuxottica is seeing the “first signs of recovery” as lockdowns introduced worldwide to slow down the spread of the Covid-19 pandemic are lifted. In a prepared message delivered to shareholders at the company’s annual general meeting, the executive chairman Leonardo Del Vecchio and executive vice-chairman Hubert Sagnières ...

  • Article

    DaTE trade show plans to go ahead in September

    2020-06-26T05:44:00Z

    The small Italian trade show DaTE , which in the past few years has been held in the second half of September in Florence, confirmed its intention to hold this year’s edition despite the Covid-19 health crisis. Mido , which is DaTE’s partner, is currently working on the event, ...

  • Article

    Italian components group Margot looks to grow

    2020-06-26T05:42:00Z

    Margot, an Italian group that makes metallic components for luxury leather goods, shoes and eyewear that is controlled by the private equity Mandarin Capital Partners , is looking to expand with an acquisition in the third or fourth quarter of this year, says Andrea Tuccio , a partner with Mandarin. ...

  • Article

    French customers maintain their eyewear purchase intentions

    2020-06-25T09:58:00Z

    Six weeks after the lockdown restrictions were lifted in France, a new opinion poll of French customers by Opinion Way for Gifo , the national eyewear industry association, broadly confirmed the trends observed in the initial survey about a month ago . Less than 3 percent of the ...

  • Silmo
    Article

    Covid-19 keeps Silmo on its toes

    2020-06-19T07:12:00Z

    The organizers of Silmo Paris have announced that, in spite of the uncertainties caused by the Covid-19 pandemic, about 700 exhibitors representing 80 percent of the exhibition space have already confirmed their participation in the next edition, scheduled for Oct. 2-5. Last year, the French show hosted 970 exhibitors ...

  • Safilo_6
    Article

    Italian eyewear exports seen down 25% in 2020

    2020-06-18T15:55:00Z

    Exports of Italian eyewear are expected to fall by 25 percent, or nearly €1 billion, this year after dropping an estimated 41 percent, or over €850 million, in the first half and are forecast to drop by 7 percent, or some €130 million, in the second part of the year ...

  • Rinascente
    Article

    Rinascente launches its online store

    2020-06-18T07:31:00Z

    Italian upmarket retailer Rinascente , one of the major department store chains in the country, made its e-commerce debut with a dedicated website. The online store features 15,000 products from 650 brands in all product categories, spanning fashion, accessories (including Italian and international footwear and eyewear brands), beauty, food and ...

  • Rodenstock
    Article

    Rodenstock completes a €75 million capital increase

    2020-06-18T06:02:00Z

    Rodenstock  has obtained funds from its shareholders to finance its development while its business is recovering faster than expected from the coronavirus crisis.

  • Italian flag
    Article

    Italy considering a €50 voucher to buy eyeglasses, contact lenses

    2020-06-17T06:57:00Z

    The Italian government is expected to examine a proposal put forward by the non-profit organization Commissione Difesa Vista (CDV) to distribute by the end of the year to Italian taxpayers a €50 voucher to buy eyeglasses or contact lenses. CDV promotes vision and eye health and was founded ...

  • GrandVision_logo
    Article

    GrandVision sales in reopened stores drop by 13% early June

    2020-06-15T11:38:00Z

    GrandVision is enjoying a recovery in sales as its stores reopen, but the company has noted that consumers are continuing with e-commerce purchases, especially for contact lenses.

  • Article

    Two large Italian retailers obtain government-guaranteed loans

    2020-06-15T05:41:00Z

    The Italian retailers OVS and Rinascente have obtained government-guaranteed loans as part of the so-called liquidity decree to support large companies affected by the Covid-19 pandemic. The measure applies to firms with more than 5,000 employees in Italy and annual revenues above €1.5 billion. Economy Minister Roberto ...

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    Article

    Safilo’s credit rating downgraded to B3 by Moody’s

    2020-06-14T14:31:00Z

    Like many other companies, Safilo is seeing its credit rating cut because of the impact of the coronavirus. But, the eyewear manufacturer was already weakened prior to the health crisis by the loss of the Dior license and a further downgrade is a possibility.

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    L’Amy gets protection from creditors

    2020-06-10T09:28:00Z

    L’Amy , one of the oldest eyewear manufacturers in France, has requested and obtained bankruptcy protection from its creditors. Philippe Jeannerot , the court-appointed receiver, said it is waiting for the presentation of a restructuring program, but he denied a report that its shareholders may be looking for a new ...

  • Article

    Hapter may set up a direct-to-client channel in countries not covered by its network

    2020-06-10T06:52:00Z

    Hapter , the high-end Italian manufacturer that retails it products at €400-500 a pair, is considering the possibility of setting up a direct-to-client sales channel in countries not covered by its network of agents and distributors.

  • Article

    CooperVision sees Q3 sales fall after 17% decline in Q2

    2020-06-09T12:06:00Z

    CooperVision (CVI)’s sales in the second quarter ended on April 30 fell by 17 percent to $402.2 million, as the business highlighted “unprecedented” challenges tied to Covid-19 and the management warned that third-quarter sales could contract by 15 to 20 percent. The parent company CooperCompanies withdrew its full-year guidance ...

  • marcolin eyewear
    Article

    ​Marcolin Q1 sales drop by 28% on Covid-19 impact

    2020-06-09T11:52:00Z

    In the first quarter of 2020, Marcolin ’s revenues fell by 28.0 percent to €93.5 million due to the impact of the Covid-19 pandemic. At constant currency rates, the decline reached 28.6 percent. In January and February, the company was moderately affected by the shutdown of its Chinese suppliers, ...

  • Article

    Japan exits state of emergency cautiously

    2020-06-05T10:40:00Z

    After lifting a mild state of emergency, which enabled smaller retailers to remain open, Japan is cautiously turning back to normal but the eyewear industry remains under pressure.

  • French flag
    Article

    Two-speed restart in France after coronavirus crisis

    2020-06-04T14:43:00Z

    Lens manufacturers are enjoying a strong recovery on the French market, while frame manufacturers are experiencing a slower restart as cash-strapped opticians delay reassortments.