All Article articles – Page 37
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ArticleLenskart starts a $100 m fund for DTC eyewear brands
Lenskart, the Indian omnichannel retailer and eyewear manufacturer, has created a $100 million fund dedicated to investments in direct-to-consumer (DTC) eyewear brands as the company believes that the market is now “ripe for a tech-enabled global transformation”. Drawing a comparison with other sectors that have been deeply transformed by e-commerce ...
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Sales and profits’ rebound at Topcon eye care unit
Topcon has reported record-high revenues and profits for 2021 at group level, reaching total sales of 176.4 billion Japanese yen (€1.2 bn), up 28.5 percent year-on-year, and more than doubling its operating income to ¥15.9 billion (€110.5 m). Net sales in the eye care business unit grew at roughly the ...
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ArticleTopology rolls out its technology outside North America
At the last edition of the Mido show in Milan, Safilo and Topology, a Californian-based tech company, presented their jointly developed digital platform which was launched in the U.S. and Canada at the end of last year by the American subsidiary of the Italian group. Based on Topology’s technology, the ...
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ArticleCooperVision up 11% in Q2, to exit CL solutions’ segment
CooperCompanies has reported a 6 percent year-on-year revenue increase to $553.8 million for its CooperVision unit in the second quarter of the 2022 fiscal year. On a constant exchange rate and on an organic basis, sales were up by 11 percent and 12 percent, respectively, compared to 2021, decelerating slightly ...
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ArticleLuna launches refraction exam app
Luna, the eyewear tech company created by 1-800 Contacts earlier this year, held an online presentation of its new MyRx Refraction Exam app at the end of last month. The exam and relevant smartphone application were developed by the teams of Israeli-based 6over6, one of the businesses integrated in Luna, ...
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ArticleNew HOYA CEO presents group’s roadmap
During the presentation of HOYA’s annual results last month, Eiichiro Ikeda, who was appointed as CEO at the start of the year, delivered an update on the group’s roadmap and main management challenges for the years ahead. After having taken a look back at the HOYA’s 80-year history and reaffirmed ...
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ArticleAPAC has become the world’s largest online eyewear market, research finds
Market research provider Euromonitor International has released a report titled “Where Consumers Shop for Eyewear.” Published in April, the report was presented at this year’s 100% Optical show, on April 23-25. According to the company, contact lenses and their related products are the most established online market segment in ...
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ArticleLow eyewear-VTO awareness leaves untapped potential, survey says
A large share of eyeglasses customers seems to remain unaware of virtual-try-on (VTO) services, even among those who have already visited eyewear e-commerce websites, according to a recent online survey by FittingBox. The French-based provider of VTO and other eyewear-related digital services asked 549 glasses’ wearers, split between France (roughly ...
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ArticleRodenstock adds M&A to technology in growth mix
“We are targeting to outgrow the optical market by two to three times with organic growth, but we are also looking at possible acquisitions to enter new markets,” Anders Hedegaard, CEO of the Rodenstock Group, told us as we were concluding our interview a few days ago, right after the ...
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ArticleZVA confirms German market rebound, but lack of opticians endures
The Zentralverband der Augenoptiker und Optometristen (ZVA), the German association of opticians and optometrists, has released its annual report on the German market for 2021. The results are based on data collected from its members but also from other market players, associations and research companies. The report shows that ...
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ArticleChild-myopia awareness on the rise in France, survey says
A recent survey by the French Association for Eyesight Improvement (AsnaV) and OpinionWay suggests that close to half of the French population suffer from myopia as 48 percent of the 1,057 surveyed people said they felt some discomfort for long-distance vision. Among those, 79 percent had gotten their eyes ...
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ArticleRodenstock acquires Indo
The Rodenstock Group has announced that it was acquiring the Spanish lens manufacturer Indo Optical to further accelerate its regional expansion and gain market share. The acquisition is conditioned to the usual regulatory approvals but is expected to go through and be completed in Q3 2022. The Munich-based company, which ...
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ArticleConsumer markets up by 9% in H1 at ZEISS
The ZEISS Group has reported a 13 percent year-on-year increase to €770 million in Consumer Markets revenue for the first half of its 2021/22 fiscal year. In constant currencies, sales grew by 9 percent compared to H1 in the previous year. The German-based group does not disclose specific figures for ...
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ArticleOut Of to accelerate optical distribution
Out Of has signed a sponsorship deal with Paolo Bettini, the former professional cyclist, who was Olympic champion at the 2004 games in Athens and back-to-back world champion in 2006 and 2007. Bettini will be wearing the brand’s eyewear throughout the 2022 season. The Italian start-up was founded by two ...
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ArticleWarby Parker confirms FY outlook after Q1 sales take Omicron hit
Warby Parker confirmed its outlook for financial year 2022 after the onset of the Omicron variant negatively impacted revenues for the first quarter ended March 31. Quarterly sales increased by 10.3 percent to $153.2 million but would have been an estimated $15.0 million higher without the negative impact of the ...
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ArticleOrtho-k and overseas market keep driving Menicon
Menicon reported a 16.2 percent year-on-year growth in total revenue for its fiscal year ended March 31, with total net sales reaching 100.2 billion Japanese yen (€743m). The Vision Care division, which accounts for over 90 percent of group revenues, reported a double-digit sales increase, driven by a strong expansion ...
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ArticleNational Vision outlook down, prices up as inflation bites
National Vision, the U.S. optical retail group addressing the entry-level segment of the market with its America’s Best and Eyeglass World chain, has downgraded its outlook for the 2022 fiscal year and increased its prices following a decline in both Q1 revenue and income. Quarterly net revenue decreased by 1.2 ...
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ArticleMister Spex Q1 sales up 6% despite flat prescription eyewear business
Mister Spex has announced a 6 percent year-on-year increase in revenue for the first quarter of 2022 to €47 million in spite of a strong comparison basis in the previous year and depressed consumer sentiment due to inflation. However, the quarterly revenue growth dropped down from the 13 percent growth ...
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ArticleBausch + Lomb sees 5% organic sales growth in Q1 as IPO wraps up
Bausch Health sold 35 million common Bausch + Lomb shares, or a 10.0 percent stake, at a price of $18.00 per share, in an initial public offering yielding gross proceeds of $630 million and valuing its subsidiary at about $6,300 million. Joseph Papa, chairman of Bausch Health and CEO of ...
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ArticleSynsam maintains growth pace, ramps up Swedish factory
The Synsam Group has reported a 14.7 percent year-on-year sales increase for its first quarter in 2022, with total revenues reaching 1,186 million Swedish crowns (€111.8m). The retailer’s performance was in line with the 14.0 percent growth reported for the previous quarter. Q1 2022 sales were up by 12 percent ...
