All Article articles – Page 67
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A year of transition for Italia Independent
The close of 2018 confirmed the trends of the first half for Italia Independent Group. After heavy restructuring, revenues were down significantly, but margins were up, and an injection of new equity helped pay down debt. Moreover, although the group's overall revenues decreased, those of the eyewear segment went up.For ...
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A slightly positive outlook for the sector
The latest edition of the Mido Outlook survey showed that 50.2 percent of the respondents were positive about the future prospects for the eyewear sector over the next six months, while 53.7 percent were positive about the longer term. Only 8.5 percent of the respondents said that their present situation ...
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Safilo sees turnaround at wholesale, will sell Solstice
The Safilo Group announced on April 2 that it has decided to sell its Solstice retail chain in the U.S. to a third party, after evaluating other alternatives, and said that it has already received expressions of interest for its acquisition.Safilo's retail sales, which derive from Solstice, dropped by 20.2 ...
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Alcon posts strong results, spin-off planned for Q2
Alcon, the eyecare division of Novartis, saw sales increase by 5 percent in constant currencies for the full year 2018. The surgical business grew by 7 percent in constant currencies, led by the company's advanced intraocular lenses, as well as continued growth in consumables. In the Vision Care segment, sales ...
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GrandVision buys Óptica2000
El Corte Inglés, the Spanish retail giant, has announced the sale of its optical retail chain, Óptica2000, to GrandVision, which declined to confirm a report in Hispanidad that it is paying €90 million for it, almost equal to one year worth of revenues. According to the latest figures released by ...
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Germany’s eyewear industry was stable in 2018
In 2018, the German eyewear industry experienced a 0.5 percent increase in turnover to €4.46 billion, according to figures released by Spectaris, the trade association for the national eyewear industry. Domestic sales rose by 2.2 percent to €2.3 billion, while foreign sales decreased by 1.3 percent to €2.16 billion, mostly ...
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Essilor acquires Brille24
Essilor International, now a subsidiary of EssilorLuxottica, is acquiring a 100 percent stake in Brille24, one of Germany's major online retailers, with annual revenues of almost €25 million. The acquisition price has not been disclosed. The German trade magazine Handelsblatt, however, spoke with members of the negotiation teams and is reporting ...
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Safilo posts positive Q4 sales, ups Ebitda guidance
According to preliminary data, Safilo finished 2018 on a fairly positive note, with fourth-quarter sales coming in at €249.1 million in spite of big declines outside Europe and North America. They were up by 1.8 percent in reported euros and by 1.3 percent in local currencies beating market expectations by ...
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Essilor makes other acquisitions
Essilor International's current acquisition and partnership strategy includes the completion of four transactions worldwide. The pace of acquisitions is expected to pick up following the approval of the merger between Essilor and Luxottica by all the relevant anti-trust authorities around the world, which allowed the two companies to formalize their €48 ...
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Thai Optical hires new managers after lower results
The Thai Optical Group (TOG) said that its sales and service revenues fell by 1.92 percent in 2018 to 1.842 billion baht (€52.2m-$59.3m), while net profit declined by 20.40 percent to 146.0 million baht (€4.1m-$4.7m) due to lower sales and higher selling and administrative costs.Meanwhile, the company has reorganized its ...
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L’Amy America launches a luxury division
The U.S. company is entering the luxury market in the U.S. by forming a new company, Ultimate Vision USA, after taking over an American distribution company, Mad Vision. The takeover gives L'Amy America access to a special French brand of women's glasses, Plein Les Mirettes, that was distributed by Mad ...
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Italia Independent goes for another capital increase
The Italia Independent Group has launched yet another capital increase to refinance itself. It is reserved to its president and main shareholder, Lapo Elkann, and a new investor, Talent EuVECA, a fund owned by AVM and the Centurion Global Fund. Elkann's stake will be diluted, but he will keep the ...
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Thema to expand with new Virtual Eyewear Assistant
Thema Optical, an Italian company founded in 1971, presented its proprietary Virtual Eyewear Assistant (VEA) at this year's Opti show in Munich in January. The internally designed software and hardware allows customers to browse through seven collections and choose the glasses that best suit their face.Customers can also personalize the frames ...
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Luxottica will leave the Milan Bourse, but may come back as Essilux
According to the latest report on its tender offer, EssilorLuxottica has increased its stake in Luxottica to 97.542 percent by buying out publicly trading shares as well as treasury shares held by the Italian group. Controlling more than 95 percent of the capital gives EssilorLuxottica the right to squeeze out ...
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Mykita further expands retail concept
Mykita plans to further expand its store network in the next couple of years. Currently, the Berlin-based eyewear brand has 18 mono-brand stores worldwide, partly company-owned and managed and partly franchised. By end of February, Mykita will open its first store in Spain in the city of Barcelona. It will ...
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Titan Eyeplus to double its network
Titan Company of Bangalore plans to double the number of its optical retail stores in India. Titan launched Titan Eyeplus, its third major venture, in March 2007. Since then, it has built the eyewear division into a 200-city network of, depending on the source, 470 or 550 stores. The former ...
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Good marks for an expanded Opti fair
The Munich trade show recorded positive reactions from visitors and exhibitors at the Messe München fairgrounds last month. Held on Jan. 25-27, the international trade show saw about 28,000 visitors per day pass through the turnstiles – more or less in line with the previous year. The fair's 631 exhibitors ...
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Slight uptick in Italy’s eyewear exports
Thanks to a slight increase in average selling prices, Italy's exports of prescription frames and sunglasses increased by about 1.1 percent to €3,378 million in 2018, according to preliminary data released by the Italian eyewear industry association, Anfao, on the eve of the big Mido trade show in Milan. The ...
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Under new management, Fielmann targets Italy and Poland
The generational transition at the leading German optical retailing group is moving into its final phase with Marc Fielmann set to take over responsibility for corporate strategy from his father, Günther, in the course of the current financial year. As previously reported, he became joint chief executive in April of ...
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Strong rebound at Fielmann
A sales increase of about 8 percent in the fourth quarter enabled Fielmann to post an increase in its consolidated sales of around 2.9 percent to €1.43 billion for the past financial year, according to preliminary figures, and the positive momentum was maintained in the last few weeks, according to ...
