All Article articles – Page 7
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ArticleThe U.K. and North America drove INSPECS in H1
The Inspecs Group has reported a significant improvement in profitability for the first half year of 2023, mostly thanks to the substantial reduction of its lens unit’s losses, while group revenue progressed at a low mid-single digit pace in constant currencies. As previously announced, the company has changed its reporting ...
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ArticleSafilo reaches deal with Thélios, Innovatek for Longarone plant and workers
Safilo Group said it has reached an agreement with Thélios, the eyewear business of the French luxury goods group LVMH, and Innovatek, an eyewear company owned by the businessman Carlo Fulchir, to guarantee the future of its Longarone facility and to relocate the 444 workers currently employed at the site ...
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ArticleThélios opens portfolio to proprietary brands with Vuarnet acquisition
Thélios, the eyewear company of French luxury group LVMH, has announced its acquisition of Vuarnet from NEO Investment Partners, the U.K.-based investment fund that owned the brand since 2013. This marks the first brand acquisition by Thélios whose portfolio included exclusively fashion brands from its parent company until now. Thélios ...
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ArticleFielmann upgrades outlook following confirmation of SVS deal
Fielmann Group has confirmed the closing of its acquisition of U.S. retailer SVS Vision, which will be integrated in the German-based retailer’s accounts from Sept. 1 and will therefore contribute four months of turnover to the group’s 2023 revenue. As previously reported, SVS Vision is based in Michigan and operates ...
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ArticleDriven by sunglasses, Mister Spex posts positive operating margin in H1
Mister Spex’ turnaround plan seems to be paying off as the German-based retail group reported a double-digit growth in revenue for the second quarter of 2023, market share gains in its domestic market and a return to a positive adjusted EBITDA for the first six months of the year. The ...
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ArticleCooperVision accelerates in Q3, upgrades full-year forecast
CooperCompanies has reported an 11 percent year-on-year revenue increase to $630.2 million for its CooperVision (CVI) unit in Q3, marking the tenth consecutive double-digit quarterly progression and an acceleration from the previous quarter (+6 percent). Sales of contact lenses were up by 12 percent at constant exchange rates and by ...
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ArticlePortfolio synergies and sunglasses on DEG roadmap
Last year’s summer was particularly busy on the corporate front for Design Eyewear Group (DEG) as, in just a few months, the company came under new ownership and acquired the business of William Morris London, the U.K.-based eyewear company. Almost one year later, we sat down with Lars Flyvholm, CEO, ...
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ArticleSpecsavers full-year results show profitability drop
According to Specsavers official accounts’ filing, the U.K.-based retail group’s profitability significantly declined in the twelve-month period ended Feb. 28 compared with the previous fiscal year. While consolidated revenue inched up by 1.1 percent to £3,436 million (€3,988 m) on a reported basis (the company reported last month a 5.6 ...
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ArticleSynsam posts another record quarter
Synsam Group has reported another quarter of double-digit revenue growth as sales for the quarter ended June 30 reached a record 1,566 million Swedish kronor (€132 m), up by 12.0 percent compared with Q2 2022. This however marks a deceleration from the previous quarter when they grew by 19.0 percent ...
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ArticleMenicon Q1 vision care sales inch up 4%
Menicon’s vision care sales inched up by 3.7 percent to 25,087 million Japanese yen (€158.8m) in the first quarter of fiscal year 2023, underpinned by a strong performance in the Japan-based contact lens maker’s overseas markets. In the three months ended June 30, sales in Menicon’s domestic market rose by ...
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ArticleNational Vision raises 2023 earnings guidance as prepares for end of Walmart partnership
National Vision raised its earnings guidance for the full year while maintaining its outlook for sales, as the optical retailer’s management provided financial analysts with initial indications of how it intends to ride out the previously announced end next year of its long-standing partnership with the retailer Walmart. For the ...
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ArticleWarby Parker sweetens outlook after Q2 sales rise 11%, store rollout continues
Warby Parker tweaked its guidance for sales upwards as it continues with the rollout of new physical stores and after revenues in the second quarter ended June 30 rose by 11 percent to $166.1 million to beat its guidance for the period of 7-9 percent growth. The U.S.-based direct-to-consumer eyewear ...
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ArticleItalian OEM group lists on the Milan stock exchange
Italian OEM eyewear manufacturer iVision Tech went public at the end of last week, listing its shares on the Euronext Growth Milan stock exchange. The company floated a total of 1,738,500 newly issued shares at an offering price of €1.15 per share for a total consideration of approximately €2 million. ...
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ArticleItalian OEM cluster group surfing on luxury eyewear momentum
Venevision, a group of Italian eyewear manufacturing companies in the Dolomites region, has announced that its revenue for the first half of this year reached €39.6 million, increasing by 58 percent year-on-year thanks to a series of acquisitions in the second half of 2022. On a comparable scope, sales were ...
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ArticleA slow U.S. market and GrandVision exit weigh on Safilo results
The Safilo Group has reported lackluster results for the second quarter of 2023 as its topline declined by 8.8 percent year-on-year to €263.0 million, or by 6.6 percent at constant exchange rates. On an organic basis, a measurement including only the house brands and ongoing licenses and excluding the Kering ...
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ArticleLife Care unit drives Hoya in Q1
HOYA Corporation has announced a 15 percent year-on-year increase in revenue to 127 billion Japanese yen (€811m) for its Life Care division in the first quarter of its new fiscal year. On a constant currency basis, sales were up by 11 percent. The group said that all major products contributed ...
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ArticleSolid half-year performance for Marcolin despite Q2 slowdown
The Marcolin group has reported a positive performance for the first half of this year with an high-single digit increase in revenue compared with 2022 and significant margin improvements in spite of a slowdown in Q2 sales. For the second quarter of 2023, the group’s topline inched up by 1.5 ...
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ArticleNational Vision reels as Walmart prepares to end partnership
National Vision shares took a hit in trade on the Nasdaq stock exchange July 27, tumbling 22 percent on the day after the surprise announcement that U.S. retailing giant Walmart has decided to end its long-standing partnership with the optical retailer next year. Walmart’s decision not to renew the partnership ...
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ArticleApple patents adjustable lenses
On July 18 the U.S. Patent and Trademark Office granted Apple a patent – number US 11,703,698 B1 – for “adjustable lens systems.” Source: U.S. patent no. US 11,703,698 B1 As the abstract reads, “eyeglasses may include one or more lenses and control circuitry that adjusts an ...
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ArticleKering Eyewear posts 21 % comparable growth in Q2
French luxury group Kering has reported a 54 percent year-on-year revenue growth to €428 million in Q2 for its eyewear unit, Kering Eyewear. While scope expansion, with the integration of Maui Jim, and currency tailwinds were the main contributors to the revenue jump, the eyewear division sales also grew by ...
