All Article articles – Page 70
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OBE splits into two units
From the beginning of 2019, OBE Ohnmacht & Baumgaertner GmbH & Co. KG, the German producer of precision mechanical metal parts for eyewear and other industries, will change its name to OBE Holding GmbH and create a new structure for its activities. Founded in 1904, the family-owned group currently has ...
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Safilo’s Q3 sales are off by 9.0%
Trick or treat? Safilo handed out both at Halloween by releasing third-quarter results that missed expectations for the top line but beat projections in terms of profitability thanks to higher-than-planned cost savings. In the quarter, group sales fell by 9.0 percent to €221.5 million, short of analysts' expectations of €225 ...
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Luxottica’s Q3 sales rise by 2.9%
Luxottica posted a 2.9 percent increase in third-quarter sales to €2,215 million, reversing the negative trend seen in the first half and even slightly beating market expectations. At constant currency rates, the top line rose by 3.5 percent, but the growth is now expected to be limited to around 2 ...
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Impressio’s 3D-printed glasses sell better than expected
Impressio, a Luxembourg-based start-up that uses 3-D printing to manufacture its frames, is one of the companies that won the Silmo d'Or award in September, with its 609 Vortex style of sunglasses.The company is considering bringing in new investors to help bring the production in-house and further improve its technology, ...
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Investors remain concerned about Safilo’s future
While analysts believe that Safilo is undervalued at its current share price, they remain wary about the group's outlook. On top of the uncertainty regarding the LVMH licenses, observers have often criticized the company's business model, under which the bulk of its production is outsourced, forcing the company to yield ...
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The warm summer affected Fielmann
With the unusually warm summer this year, Fielmann saw its external sales for the third quarter increase by only 2.7 percent to €430.6 million. Consolidated sales rose about half a percent to €366.4 million compared with the same period last year, and they were basically flat on a same-store basis.The ...
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Alcon posts mixed results
Alcon, the eyecare business of Novartis, posted a 3 percent sales increase for the third quarter, with growth of 5 percent in constant currencies. The Surgical business' increase of 7 percent in constant currencies was driven by double-digit growth for the company's advanced intraocular lenses, as well as continued growth ...
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Italy’s anti-trust probes Luxottica’s purchase of Barberini
Italy's antitrust agency, the AGCM, has opened an investigation into Luxottica's planned €140 million purchase of Barberini, the leading Italian producer of high-end mineral lenses for sun and optical glasses, which are typically used for medium to high quality sunglasses.According to observers, its acquisition by Luxottica, which is combining its ...
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Safilo avoids issuing a new high-yield bond
In arranging its refinancing program, Safilo has avoided another costly bond, which would have weighed on its profit and loss account. The company already has to repay a convertible bond of €150 million that is due to mature next May. The issuance of a bond was considered but not enacted. ...
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Article
ic! Berlin and Mykita founders launch a new brand
Two months ago, the brand Haffmans & Neumeister – created by Daniel Haffmans, Philipp Haffmans and Jean-Pierre Neumeister in March 2017 – appointed Tjarko Bohlen to the position of chief executive officer responsible for sales. Bohlen previously worked for Mykita, the Berlin-based eyewear brand, serving as sales representative for ...
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EssilorLuxottica is in the starting blocks
Essilor and Luxottica completed their €48 billion merger agreement on Oct.1, but there are a few more steps that have been taken since and that will have to be made before the corporate structure of the new combined entity, EssilorLuxottica, is finalized. The “combination” of the two industry giants comes ...
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Bollé Brands is born
Peter Smith has been appointed to the newly created position of president and chief executive for Bollé Brands, the new company formed by A&M Capital to run the Bollé Safety business and the consumer eyewear and helmet business of Bollé, Cébé and Serengeti recently bought from Vista Outdoor for $158 ...
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Disposable lenses boost J&J’s sales
Johnson & Johnson's Vision Care division saw revenues jump by 6.2 percent in the third quarter. The management said that the contact lens business continued to grow above market trends on the strength of the astigmatism and daily disposable lenses in the Oasys family. In Vision Surgical, the company's global ...
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Cash generation is Safilo’s next milestone
According to its own projections, Safilo will be able to generate free cash flow on average for the whole of 2019. Because of the cyclical nature of its business, the company's cash flow is predicted to be negative at the start of the year, with the build-up of working capital, ...
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GrandVision’s comparable sales soar
GrandVision achieved its highest quarterly comparable growth performance in more than three years in the latest quarter, driven by strong sales in the G4 and Americas & Asia segments.Revenues rose in the third quarter by 10.5 percent from the year-ago period to €948 million, but would have increased by 13.3 ...
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A tough first half for De Rigo due to a lower Turkish lira
The crumbling of the Turkish lira has had serious consequences for De Rigo Vision, one of whose three optical chains, Opmar Optik, with 75 points of sale, operates in the country. The new monetary crisis that broke out in early August, shaking up the government of Prime Minister Erdogan, has ...
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Exports, e-commerce and young leaders will be key
The release of the second edition of Mido Outlook, an international survey of the players of the eyewear industry, indicates that exports continue to be a key factor for the industry, for both Italian and foreign companies, with the U.S. emerging as the most attractive market and Italy also in ...
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Positive sales trends for Essilor
Essilor reported partially positive results for its part of the merged business during the third quarter of this year in the first financial report since its merger with Luxottica. Fueled by good results in Asia, the online business and the Sunglasses & Readers division, the group's global revenues improved by ...
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Quality overrides price in Europe
The quality of lenses is generally a more important factor than their price or brand for consumers in the five major European countries, according to the eighth edition of the Optical Monitor (OMO). Once again commissioned from GfK by the Mido and Silmo trade shows, the survey was based on ...
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Marble eyewear gets a prize, but…
Morà Busoli won this year's Silmo d'Or in the “Optical Frames: Eyewear Designer” category for its new Venti frames, made of marble and carbon. The Italian company had first shown its line at the Mido show in Milan last year, a few months before another Italian company in the same ...
