All Article articles – Page 50
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ArticleEssilux to buy 50% of SightGlass Vision from CooperCompanies
EssilorLuxottica will buy a 50 percent stake of SightGlass Vision, which focuses on developing lenses to reduce the progression of myopia in children, from CooperCompanies, the parent company of CooperVision. CooperCompanies held a minority ownership interest in SightGlass Vision and bought the company in January. Under the agreement with Essilux, ...
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ArticleVision Expo, 100% Optical change plans
The Covid-19 and its new variants, as well as the uncertain completion dates of the current vaccination campaigns, are keeping trade show organizers under pressure to find solutions for their 2021 editions. While plans seem unchanged for the Milan-based Mido show which just started its visitors’ registration campaign for the ...
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ArticleU.K., EU trade heavily affected by Brexit, worse may be ahead
Brexit has complicated life for merchants in the European Union exporting to the U.K., which highlights new paperwork requirements, higher administrative costs, delivery delays and uncertainty about what the rules of the game are now that the U.K. is no longer a member of the single market since Jan. 1. ...
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Article
Sales of J&J contact lenses down 5.3% in Q4
Johnson & Johnson’s global sales of contact lenses fell by 4.4 percent year-on-year in the fourth quarter to $796 million. At constant currency rates, the decline widened to 5.3 percent as sales continued to be impacted by the Covid-19 pandemic. Lower levels of stocking in the U.S. also weighted on ...
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ArticleSales recovery and record profits for Hoya in Q3
The results of Hoya Corporation for its third quarter, ended Dec. 31, showed that the Japanese group was pursuing its recovery from the negative impact of Covid-19, with stable revenues and a double-digit year-on-year increase in profits. Top line figures for the Health Care division were back in the black ...
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ArticleSafilo’s Q4 sales rise driven by North America, Asia-Pacific
Safilo’s fourth-quarter revenues rose by 3.0 percent at constant exchange rates thanks to strong gains in North America and Asia-Pacific, while European sales were hit by Covid-19-related lockdowns and a lack of tourists. On a reported basis, however, the company’s sales were down by 2.1 percent to €225.6 million. During ...
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ArticleDigital natives are the most frequent cross-border e-commerce shoppers
A recent survey by eShopWorld, a privately held Irish company headquartered in Dublin with offices around the globe that provides a technology platform for brands and retailers looking to sell online to global markets, found out that younger, digitally native consumers aged 25 to 34 are the group that most ...
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ArticleMastercard hikes fees on U.K. e-commerce purchases from EU
Mastercard is preparing to increase fees charged to EU merchants when British cardholders buy their goods online by at least 400 percent, a move it said is being made due to Brexit and could lead to higher prices for consumers should merchants decide to pass on the higher costs of ...
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ArticleGlassesUSA.com raises $45m in funding
GlassesUSA.com has raised $45 million in funding from the Israeli private equity firm Tene Investment Fund. Established in 2008, the online eyewear retailer is a subsidiary of Optimax Eyewear. It was founded by the company’s chief executive Daniel Rothman, chief operating officer Eldad Rothman and chief technology officer Roy Yamner. ...
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ArticleEU Commission calls to ‘strongly discourage’ intra-EU travel
The European Commission has proposed the European Council to discourage non-essential travel between European Union member states amid high Covid-19 infection rates and concerns about new virus variants, while avoiding border closures or blanket prohibitions that would impede the functioning of the internal market and supply chains. “The Commission proposes ...
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ArticleCooperVision expands manufacturing facilities as demand grows
CooperVision announced the expansion of manufacturing facilities located in North America and Europe due to growing demand for its contact lenses. It also believes that the Covid-19 pandemic will force eye care professionals (ECP) to review their long-term business practices. The Gilbert site, situated in suburban Phoenix and currently producing ...
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ArticleGrandVision maintains positive comparable sales growth in Q4
GrandVision enjoyed an 0.8 percent year-over-year increase in comparable revenues in the fourth quarter, in line with the performance posted in the previous three months, thanks to its core European markets. But on a reported basis, the top line declined by 1.7 percent as the group suffered from the resurgence ...
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ArticleDPD resumes U.K. road services to EU after Brexit customs delays
The parcel carrier DPD has resumed its road service from the U.K. to the European Union after resolving customs clearance problems caused by post-Brexit administration rules. The U.K. left the single market on Dec. 31, 2020. The company had suspended operations in the first week of the month and planned ...
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ArticleItalia Independent sees 2024 sales reaching €42 million
Italia Independent expects to post sales of €42 million in 2024 and return to a net profit in 2023. The new forecasts push back the group’s return to profit by a couple of years. In the business plan to 2024 approved by the board, the loss-making Italian eyewear company expects ...
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ArticleEssilor, Luxottica launch their first joint product
Essilor and Luxottica have launched their first joint product with the latest edition of Ray-Ban Authentic. It will be launched in the U.S. on Jan. 19. According to EssilorLuxottica, the group resulting from the merger between the French ophthalmic lens producer and the Italian frame maker on Oct.1, 2018, the ...
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ArticleEyewear industry stocks grew by 6% in 2020
We are publishing here for the first time our ranking of the main stock-listed eyewear industry companies, based on their stock market capitalization in euros at the end of 2020. The corresponding table also shows the change in market value from the previous year, both in local currency and euros. ...
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ArticleDe Rigo enters distribution deal with DIFF Eyewear in North America
De Rigo Vision has reached a multi-year agreement under which its Los Angeles-based unit De Rigo REM will be the sole distributor of DIFF Eyewear’s sun and optical frames in the North American optical market. DIFF Eyewear is a rapidly growing American-based fashion eyewear company that offers eyewear and accessories ...
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Italy’s Anfao and unions reach labor contract agreement
The Italian eyewear trade association Anfao reached an agreement with trade union representatives on the terms of a new contract affecting the roughly 18,000 workers in Italy’s eyewear industry, including those at Luxottica, which exited Anfao in 2019. Due to the economic crisis that has hit the eyewear sector, the ...
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ArticleFielmann’s full-year sales slip to €1,425 million
In 2020, Fielmann’s consolidated sales slipped to €1,425 million from €1,520.7 million, while external sales, which include value-added tax and inventory changes, totalled €1,625 million, down from €1,764.6 million a year earlier. The pre-tax profit will reach nearly €170 million, down from €253.8 million in 2019, according to preliminary data ...
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ArticleCecop continues aggressive expansion in the U.S.
Cecop, the international buying group based in Madrid, continues its rapid expansion in North America with the acquisition of the Alliance Buying Group (ABG), based in Monmouth, Illinois, from Surgery Partners. No financial details were released. Cecop entered the North American market in May with the acquisition of the Combine ...
