All Article articles – Page 57
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ArticleRodenstock completes a €75 million capital increase
Rodenstock has obtained funds from its shareholders to finance its development while its business is recovering faster than expected from the coronavirus crisis.
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ArticleItaly considering a €50 voucher to buy eyeglasses, contact lenses
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 by trade ...
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ArticleGrandVision sales in reopened stores drop by 13% early June
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.
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Two large Italian retailers obtain government-guaranteed loans
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 Gualtieri agreed to ...
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Safilo’s credit rating downgraded to B3 by Moody’s
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
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 investor in ...
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Hapter may set up a direct-to-client channel in countries not covered by its network
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.
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CooperVision sees Q3 sales fall after 17% decline in Q2
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 due ...
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ArticleMarcolin Q1 sales drop by 28% on Covid-19 impact
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, which are ...
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Japan exits state of emergency cautiously
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.
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ArticleTwo-speed restart in France after coronavirus crisis
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.
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Cecop moves into North America
Cecop, the international buying group based in Madrid, has entered the Northern American market, acquiring 600 new retail members in the region through its takeover of the Combine Buying Group, an organization that provides various services to independent opticians. Based in New York, the American buying group previously belonged to ...
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Safilo completes the acquisition of Blenders and boosts its e-commerce business
Safilo has completed the acquisition of a 70 percent stake in the Californian company Blenders Eyewears, bringing in house a high-growth business and skills to further develop its e-commerce activity.
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ArticleItalia Independent lowers its forecasts until 2023
Italia Independent has revised downwards its business plan though 2023 due to the impact of the Covid-19 pandemic. It now expects to post sales of about €40 million in 2023 compared with a previous estimate of €42 million in the business plan approved in November 2019. The revenues are projected ...
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ArticleWGSN sees three major consumer groups emerging from the crisis
The coronavirus pandemic has accelerated societal changes and is forcing industries worldwide to adapt to the resulting changes in consumption, and WGSN has set out to predict what consumers will be looking for in the next couple of years.
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Macy’s’ credit rating downgraded to ‘BB’ by Fitch
Macy’s credit rating was cut by Fitch, as, like many other American department stores, the retailer suffered from coronavirus-related lockdowns. EssilorLuxottica’s unit Luxottica is present in Macy’s’ network with its LensCrafters and Sunglass Hut banners.
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ArticleEssilorLuxottica’s bonds generate huge demand
EssilorLuxottica experienced huge demand for its bonds from institutional investors, enabling it to increase the size of the placement and lower the annual interest rates it will pay. The company enjoys a strong balance sheet and has an ‘A’ credit rating from S&P and an ‘A2’ rating from Moody’s. The ...
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Luxottica joins forces with Padua university to manage Covid-19
Luxottica is intensiving measures to combat Covid-19. A new protocol, including blanket testing and sensors to maintain and monitor social distancing, is being implemented in Italy and will be extended to all of its facilities worldwide.
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Fielmann buys 10% stake in a provider of wearables, augmented reality solutions
Fielmann is further pushing its digital agenda thanks to an alliance with Ubimax, a provider of computing technologies and augmented reality solutions. Tightening its strategic partnership with Ubimax, it has purchased a 10 percent stake in the company through a capital increase. The acquistion was carried out by Fielmann ...
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Mido4u attracts over 10,000 visitors in a couple of month
The organizers of Mido launched Mido4u.com, a B2B digital platform set up to compensate for the cancellation of Mido’s 2020 edition because of the Covid-19 pandemic. But in over two months, it has attracted less than a fifth of the fair’s attendance.
