All Article articles – Page 53
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ArticleU.K. government under pressure over move to scrap tax-free shopping
The British Finance Minister Rishi Sunak is under mounting pressure from major retailers to reverse his decision to abolish duty-free shopping next year which they claim will lead to significant job losses. Leading U.K. fashion and luxury brands, including Paul Smith, Ted Baker, The White Company and Superdry, have warned ...
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ArticleMarchon to use Eastman’s sustainable acetate
Marchon announced that it will be the first eyewear company to produce frames using Acetate Renew, a sustainable material produced by the American specialty chemical company Eastman. Unlike other sustainable alternatives, Acetate Renew is indistinguishable from classic acetate, according to Marchon. It plans to start producing acetate sunglasses and ophthalmic ...
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ArticleU.K. threatens no-deal Brexit but talks to continue
Tensions on stalled Brexit trade talks intensified as Boris Johnson, the British Prime Minister, said Britons should prepare for a no-deal departure if the European Union (EU) did not compromise, raising the prospect of supply chain chaos across Europe. Johnson stopped short of saying he was walking away from the ...
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ArticleSynsam builds new plant as it moves production to Sweden
Synsam plans to move eyeglass production from Asia to Sweden next year. The project involves the construction from scratch of a new factory that the company claims will focus on sustainable production. The facility is scheduled to be completed in autumn of 2021 in the town of Ockelbo. With an ...
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ArticleEssilor restructures its French sites
Essilor, the ophthalmic lens unit of the Franco-Italian group EssilorLuxottica, is grouping four existing French sites into a new laboratory that will be located in the Paris region. From the end of 2023, the company will transfer the ophthalmic lens business of the sites of Antony, Vaulx-en-Velin and le Mans ...
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ArticleEleven companies launch the Renewable Carbon Initiative
Eleven companies from six countries have joined forces to launch the Renewable Carbon Initiative (RCI). The initiative, under the leadership of German research institute nova-Institute, aims to phase out the use of fossil fuels for all organic chemicals and materials by 2050 to enable chemicals, plastics and other organic materials ...
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ArticleEU agrees on common rules for travel restrictions due to Covid-19
The European Council has adopted a recommendation on a coordinated approach to travel restrictions in response to the Covid-19 pandemic. The council comprises the heads of state or government of the countries forming the European Union, as well as the president of the council and of the European Commission. ...
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ArticleGlobal talks on digital tax prolonged to 2021
The 137 countries involved in talks on base erosion and profit shifting (BEPS) due to the digitalization of the economy have agreed to keep working towards an agreement on the taxation of digital companies by mid-2021, thus acknowledging that they will fail to strike a deal by the end of ...
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ArticleOpti2021 cancelled over Covid-19
Opti2021, which was scheduled Jan. 8-10, 2021, in Stuttgart, has been cancelled because of the resurgence of the Covid-19 pandemic. “This decision was a result of rising infection rates, travel restrictions and feedback from the industry,” said the organizer of the German trade show, GHM Gesellschaft für Handwerksmessen. The company ...
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ArticleMido postponed to June 5-7, 2021
The Milan-based eyewear trade show Mido has been postponed to June 5-7, 2021, from its initial dates of Feb. 6-8, as the number of Covid-19 cases picks up in many regions of the world with the return of cold weather to the northern hemisphere. Mido said that the decision is ...
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ArticleItalia Independent opens a new showroom in Milan
Italia Independent opened a new showroom in Milan, in via Fiori Chiari, in the heart of the bohemian Brera district. The location is also the company’s sole flagship worldwide after the company underwent a restructuring that led to the closure of all stores managed directly or franchised. It also replaces ...
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ArticleVam Investments buys 80% of Demenego
The Milan-based private equity Vam Investments has bought an 80 percent stake in Demenego, an Italian eyewear producer which also manages 16 points of sale. The De Menego family will retain a 20 percent interest in the company, which posted sales of €23 million in 2019 and an Ebitda of ...
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ArticleLuxottica shares Covid-19 screening program with Versace
Luxottica, the Italian frame making unit of the EssilorLuxottica group, has decided to share with Versace its Covid-19 prevention, detection and research program currently being used in Italy. Luxottica has held the eyewear license of the Italian fashion house for the past 17 years. Luxottica developed the prevention and screening ...
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ArticleEyewear market seen normalizing driven by prescription frames
The eyewear industry started picking up in June after the easing of Covid-19 related lockdown measures in some key markets. It is expected to gradually return to past levels, underpinned by pent-up demand for ophthalmic eyewear. A phenomenon, that has prompted manufacturers to focus on prescription frames.
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ArticleAlibaba in partnership with the duty free retailer Dufry in omnichannel drive
The Chinese e-commerce group Alibaba has entered into a partnership with the Swiss duty free retailer Dufry that will further integrate online and offline shopping. The parties will form a strategic joint venture in China, and Alibaba will become a minority shareholder in Dufry.
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Silmo Paris announces its Silmo d’Or awards online
In spite of the cancellation of this year’s edition of the show, the organizers of Silmo Paris have decided to proceed with some parts of their usual program, including the annual distribution of the Silmo d’Or awards. However, instead of the usual festive event, the Silmo d’Or laureates were announced ...
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ArticleMarc Simoncini, Alain Afflelou most admired French businessmen
Marc Simoncini and Alain Afflelou were elected as the most admired French businessmen in a poll organized by the magazine, Capital. Simoncini, who topped the ranking, is the founder of the dating website Meetic and until recently involved in the eyewear business. He entered the eyewear business in 2011 with ...
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Article
Safilo Q3 sales better than expected
Safilo estimates that in the third quarter its net sales grew by a mid-single-digit rate at constant exchange rates compared with the same quarter of 2019. It also expects to return to a profit at adjusted Ebitda level. Previously, the company had forecast a moderate decline in sales for the ...
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ArticleFielmann raises FY guidance on better-than-expected Q3 results
Fielmann posted “considerably” better-than-expected third-quarter results and has lifted its full-year guidance. According to preliminary estimates, consolidated sales were about €420 million compared with €400.0 million a year earlier and pre-tax profit is around €80 million against €78.5 million in the third quarter of 2019. The German eyewear retailer pointed ...
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ArticleStrong expansion for the Hallmann chain with MPG’s help
The Austrian-based Michael Pachleitner Group (MPG) reported on a strong expansion of the network of Optik Hallmann stores since it acquired a minority stake of 19 percent in the German chain in 2015, supplying it with German-made lenses. From only 40 stores at the time of the acquisition, it has ...
