All Article articles – Page 60
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New financing round for the expansion of Mister Spex
Mister Spex, which claims to be Europe’s leading online optician, completed another round of financing for over €15 million this month. The equity financing round was led by the Co-Investor Group, a firm that invests in medium-sized companies and maintains offices in Zurich, Frankfurt and Berlin. The new capital ...
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Higher sales and profits for Synsam
The Synsam Group reached a turnover of 3,741 million Swedish kronor (€350.7m-$387.4m) last year, up from SEK 3,380 million in 2018. The adjusted operating profit amounted to SEK 984 million (€92.3m-$101.9m) a big increase from SEK 643 million in the previous year. In addition to the opening of new ...
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Hoya reports a squeeze in segment sales and profits
The results of Hoya Corp. for the third quarter ended on Dec. 31 were negatively impacted by the expected increase in the sales tax in Japan, which had increased purchases in the previous quarter. In particular, sales of contact lenses and eyeglass lenses declined in the country, affecting also the ...
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Inspecs plans acquisitions after its recent IPO
Inspecs has managed to sell all the new and existing shares it planned to place in its initial public offering (IPO) on the Alternative Investment Market (AIM) of the London Stock Exchange, despite a difficult market environment. The company’s share price remained in line with the IPO price of ...
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Mazzucchelli and others become more sustainable
Mazzucchelli 1849, the world’s leading supplier of acetate sheet for eyeglasses and sunglasses, has just announced that it will start commercial deliveries of a new type of sheet made from Eastman Acetate Renew during the second quarter of 2020. Eastman Chemical Company says that Mazzucchelli, a long-time partner of the ...
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Safilo to use regenerated nylon produced by Aquafil
Safilo is making a significant pitch for sustainability by adopting a new material, Econyl. This is a regenerated nylon produced by Aquafil, an Italian manufacturer of synthetic fibers that is becoming increasingly popular among fashion and sportswear brands, but has never before been used in the eyewear industry. The ...
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Danish sunglasses made from ocean waste
A company based in Copenhagen, called Responseability (sic), is resorting to Kickstarter to help finance the launch of a sustainable collection of four unisex sunglasses made from 100% ocean waste plastic, where each pair is said to remove 1 kg of plastic from the ocean. The glasses are made of ...
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An interesting loyalty scheme
In January 2019, Denmark’s Design Eyewear Group launched an interesting loyalty program among its direct retail clients to better capitalize on the synergies among the various brands in its portfolio. Thanks to the rewards offered through the program, 35 percent of the clients located in countries where the group doesn’t ...
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Kazakh eyewear retailer mulls over international expansion
The biggest eyewear retailer in the market of Kazakhstan, Actual Optic, is considering franchising its operation in Russia and Turkey, according to the local edition of Forbes magazine. Actual Optic is running 25 stores in 10 cities of Kazakhstan offering more than 100 eyewear brands. Anna Yakovleva, general director ...
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Alcon’s first year after Novartis spin-off is a success
Alcon reported total sales of $7,362 million for the full year 2019, an increase of 3 percent on a reported basis and 5 percent in constant currencies. The management said that 2019 was a good year for the company, as it completed its spin-off from Novartis to become an ...
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Lawsuit widens Bausch Health’s net loss in Q4
Bausch Health reported a net loss of $1,516 million for the fourth quarter, compared with a net loss of $344 million for the year-ago period. The management blamed mainly the accrual of legal reserves established for the resolution of a so-called “stock drop” litigation in the U.S. linked to the ...
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The Vision Council takes a new tack
The Vision Council announced details from a new five-year plan, including a new consumer marketing strategy. Both are set to commence this year and following the council’s annual Executive Summit, held on Jan. 29-31 in Manalapan, Florida. The council also inducted its board of directors for the new year. ...
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ArticleBig management changes at Essilux
EssilorLuxottica announced on March 30 the retirement of Laurent Vacherot as chief executive of Essilor, saying that he has decided not to lead a new phase in the integration with Luxottica, which it wants to speed up. Paul de Saillant, 61, is taking over the role from the 64-year-old Vacherot ...
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EssilorLuxottica posts strong sales and profits for 2019
In 2019, the first full year in which Essilor and Luxottica were part of the same company, EssilorLuxottica – alias Essilux – enjoyed a 7.4 percent jump in revenues to €17.390 million on a pro-forma basis. In constant currencies, they grew by 4.4 percent. One of the highlights was a ...
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ArticleAnalysis: Mandatory and voluntary actions in Europe to stem Covid-19
Many companies have had to close their retail and manufacturing activities in Europe over the past few weeks because of national lockdowns intended to mitigate the spread of the Covid-19 pandemic. Many others, especially in the ophthalmic optics sector, have shut down voluntarily, as a service to their communities. ...
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CooperVision grows by 4% in Q1
CooperVision’s sales went up by 3 percent to $485.2 million in the first quarter of Cooper Companies’ financial year, which ended on Jan. 31, and its gross margin improved by 0.5 percentage points to 66.5 percent. Sales of toric lenses rose by 6 percent to $155.1 million, multifocal lenses ...
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EssilorLuxottica starts to cope with Covid-19
On March 27, EssilorLuxottica said it had stopped a share buyback program that it had announced only 10 days earlier, due to the growing uncertainty being created by the rapidly expanding Covid-19 pandemic. It’s one of the measures that the group is implementing to improve its liquidity in view of ...
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GrandVision issues profit warning due to Covid-19
Because of the Covid-19 pandemic, GrandVision (GV) no longer expects this year to achieve its medium-term objectives of an annual growth of at least 5 percent in revenue and Ebita. It noted that the business environment remains uncertain but the company is confident that it will complete its takeover by ...
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The European contact lens market rose by 4.3% in 2019
The contact lens market in 33 European countries rose by 8.8 percent in 2019 to €1,960 million, according to data released by Euromcontact, which represents the contact lens and lens care industry in Europe. On a comparable basis, the growth was limited at 4.3 percent, as the organization was not ...
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Eyewear stores are temporarily closed in Russia
The Russian government is no longer recognizing corrective eyewear as essential products that should not fall under a nationwide retail lockdown. It has ordered all eyewear stores in the country to be shut down at least for one week from Monday, March 30. While they were excluded from a ...
