All Article articles – Page 39
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ArticleChristopher Cloos swaps shares for ads with U.S. media group
Christopher Cloos, a Danish-based brand of sunglasses and prescription eyewear, has signed an unusual share deal with a360 Media, a U.S. publisher of magazines and websites focusing on celebrities’ news and health and fitness. The eyewear company has agreed to sell 9 percent of its shares to the media house ...
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ArticleMykita fully switches to sustainable acetate
MYKITA and Eastman have jointly announced that the independent eyewear company would exclusively source the U.S. specialty chemical company’s Acetate Renew for all its acetate material needs, as of last March 30. While several other eyewear brands have joined Eastman’s Acetate Renew’s program in the last months, the Berlin-based eyewear ...
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ArticleEyewear industry stock prices down 13% in Q1
The first quarter of 2022 was the worst quarter for global equity markets since the first quarter of 2020 when the Covid-19 pandemic started spreading worldwide, leading to travel restrictions and lockdowns and prompting stock markets to collapse in March. Since the start of this year, the U.S. equity market ...
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ArticleMister Spex looks to accelerate revenue growth in 2022
The Germany-based omnichannel retailer Mister Spex expects to bump up growth in its top line this year, forecasting a double-digit growth rate that is “slightly higher” than the 18 percent increase in revenues seen in 2021 and allows it to continue to grow faster than the market as a whole. ...
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ArticleAfflelou sales rebound in Q2 after Q1 drop
The Afflelou group has reported a slight year-on-year increase in network sales for the second quarter of its 2022 fiscal year, ended Jan. 31, rebounding from a 4.9 percent drop in the previous quarter. The growth was limited to 3.2 percent versus 2021 as the stores’ activity was still impacted ...
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ArticleFedon annual revenues rise as demand rebounds from Covid pandemic
Italian eyewear case and leather goods specialist Fedon has reported a rise in annual revenue as trading rebounded from the impact of the Covid-19 pandemic and associated lockdowns around the world. Group revenue rose 18.8 percent year-on-year to €50.1 million in 2021, but remained siginificantly lower than the €64.2 million ...
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ArticleKRYS GROUP announces €50 million investment plan
The KRYS GROUP reported a 18.5 percent year-on-year increase in network sales of optical products and hearing aids to a total of €1,199 million, including VAT, for 2021. As compared to the pre-Covid 2019 reference year, stores sales were up by 7.8 percent. The hearing-aids Krys Audition unit saw its ...
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ArticleEssilux supports Ukraine’s 1,700 staff, restricts Russian operations
Reacting to the war in Ukraine, EssilorLuxottica, announced on its social media last week that the group’s immediate priority was the safety of its 1,700 collaborators in Ukraine and that it had taken steps to provide them with secured shelter, financial assistance and help crossing borders. According to the same ...
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Higher sales and losses for Warby Parker in Q4, FY
U.S.-based direct-to-consumer Warby Parker has reported a 17.8 percent year-on-year increase in Q4 revenues to $132.9 million. The company noted that its quarterly sales had been negatively impacted by the Covid’s Omicron variant at the end of December, which usually coincides with peak demand from customers. Q4 revenues were up ...
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Eyewear prices jump in Russia as the market braces for shortage
The price for eyewear in Russia jumped by 30 to 40 percent since the Russian invasion of Ukraine, primarily due to a collapse of the Russian ruble. Some stores have also seen a panic buying, as customers are wary of possible supply disruptions, over an unprecedented exodus of Western business ...
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ArticleGood start of the year for Safilo
The board of directors of Safilo Group has approved the annual results of the company for the 2021 fiscal year, which showed strong improvements both in terms of revenue and profitability versus 2020 and 2019. As we have already covered the group’s performance extensively at the end of January after ...
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ArticleWith revenues up, Thai Optical is shifting towards high value-added
Thai Optical Group has posted revenues from sales and services of 2,358 million baht (€64.20m) for 2021, up year-on-year by 29.5 percent. Ebitda was up by 108.4 percent to THB 529 million (€14.4m). America has been the group’s major growth market over the past three years, climbing from 7.8 percent ...
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ArticleWarby Parker and Eastman find a circle for demo-lens plastic
In a partnership with Eastman, Warby Parker has established a recycling program for the recycling of demo lenses. The direct-to-consumer eyewear company says it has spent years researching alternative demo-lens materials, but so far all have fallen short on quality and proved “incredibly difficult to break down.” Since the ...
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ArticleKering Eyewear to acquire Maui Jim
Kering Eyewear is acquiring Maui Jim, the world’s largest independent brand of high-end sunglasses. The deal is subject to approval by regulators but should be complete by the second half of 2022. Speaking at a press conference this morning, Kering Eyewear’s president and CEO, Roberto Vedovotto, did not wish to ...
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ArticleEssilux comparable revenue up 7.4 % in 2021 vs. 2019
EssilorLuxottica has reported revenues of €19,820 million for the full 2021 financial year, up 40 percent year-on-year and 20 percent versus the pre-Covid 2019 year. The topline figure includes revenues of the GrandVision business for the first time, and for a total of €2,062 million corresponding to six months of ...
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ArticleU.S. market up throughout 2021, despite cooling Q4
According to The Vision Council’s latest VisionWatch market report, covering the fourth quarter of 2021, U.S. eyewear sales reached $45.83 billion over the course of 2021, up by 24.3 percent year-on-year and by 5 percent since 2019. “While 2021 marked a significant rebound from a challenging 2020 for the optical ...
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ArticleKits increases revenues, expands customer base
Kits Eyecare devoted 2021 – its first year as a public company – to investment, expanding its production capacity and customer base. The self-described “vertically integrated, digitally native eyecare platform” also managed to raise revenues, bringing in about $82.4 million. Year-on-year this represents an increase of 15.1 percent in constant ...
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ArticleSpectaris: German optics industry recovered from pandemic impact in 2021
According to a press statement published by the industry association Spectaris, the German manufacturers of ophthalmic optics and consumer optics that are members of the association have successfully recovered from the negative effects of the Corona pandemic in 2021. In 2021, overall sales of the 140 Spectaris members who have ...
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ArticleEMEA and APAC drove CooperVision Q1 growth
CooperCompanies has reported a 16 percent year-on-year revenue increase to $787.2 million for the first quarter of its 2022 financial year, with double-digit progress for both its CooperVision and CooperSurgical divisions. CooperVision Q1 sales rose by 11 percent in reported terms as compared to the same period in 2020, or ...
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ArticleEssilux closes an acquisition and a divestiture
EssilorLuxottica has recently closed two deals. One is the acquisition of Walman Optical, a network of laboratories operating in the U.S. The other is Vision Group’s acquisition in Italy, from the recently fused Essilux and GrandVision, of VistaSì’s brand and 99 stores and of 75 GrandVision stores. Terms for the ...
