All Corporate articles

  • Gemoptics logo
    Article

    Manager takes over GemOptics from Mondottica

    2020-11-24T17:42:00Z

    As part of its strategy to focus on its eyewear distribution business, with licensed brands such as Christian Lacroix , Sergio Tacchini or Pepe Jeans among others, Mondottica International has sold its entire stake in the wholly-owned unit GemOptics to Robert Content , the general manager ...

  • News briefs

    Pourquery testing laboratory opens an optical division

    2020-11-23T12:25:00Z

    Pourquery Laboratories , a family-owned testing and certifying company based in Lyon, France, has just opened a new optical division for the analysis of protective glasses and visors, ski goggles, eye and face protection, sunglasses and other types of glasses. The new department is headed by Julian Delport , former ...

  • News briefs

    ​U.S. Vision to axe 299 jobs due to Covid-19

    2020-11-22T14:50:00Z

    USV Optical , which is part of the Refac group and trades under the name U.S. Vision , has informed the state of New Jersey, where it is located, that it plans to lay off 299 workers. The job cuts are expected to be executed by the end of ...

  • Hoya
    Article

    New CEO and brand positioning for Hoya Vision Care

    2020-10-21T10:10:00Z

    Hoya has announced the appointment of Alexandre Montague as the new CEO of Hoya Vision Care, the lens division of the Japanese group. The French eyewear industry veteran started in this position in August, after spending six months at the helm of Hoya Eye Care, the company managing ...

  • Synsam logo
    Article

    Synsam builds new plant as it moves production to Sweden

    2020-10-16T10:58:00Z

    Synsam plans to move eyeglass production from Asia to Sweden next year. The project involves the construction from scratch of a new factory that the company claims will focus on sustainable production. The facility is scheduled to be completed in autumn of 2021 in the town of Ockelbo. ...

  • Essilor 2
    Article

    Essilor restructures its French sites

    2020-10-15T16:10:00Z

    Essilor , the ophthalmic lens unit of the Franco-Italian group EssilorLuxottic a, is grouping four existing French sites into a new laboratory that will be located in the Paris region. From the end of 2023, the company will transfer the ophthalmic lens business of the sites of Antony, Vaulx-en-Velin ...

  • News briefs

    Rationale of Essilux, GrandVision tie-up remains unchanged

    2020-10-09T13:40:00Z

    The strategic logic behind EssilorLuxottica ’s proposed acquisition of GrandVision has not changed despite the litigation between the two companies, Leonardo Del Vecchio , Essilux executive chairman, told the Italian daily Il Messaggero . Del Vecchio is the founder of Luxottica and is the main shareholder of Essilux ...

  • News briefs

    Smith transfers consumer & dealer services division to Portland

    2020-09-27T08:30:00Z

    The American helmet and eyewear brand Smith Optics has transferred its consumer dealer services division to its headquarters in Portland, where it will join the product, marketing and sales departments. The division was previously located at Smith’s Utah-based manufacturing facility. The Portland team will include account managers ...

  • Safilo
    Article

    Safilo secures €108.0 million government-backed financing

    2020-09-16T11:16:00Z

    Safilo signed of a new term loan facility totaling €108.0 million which provides it with additional liquidity to finance its working capital and investment needs for activities located in Italy. The financing is guaranteed at 90 percent by the Italian export credit agency Sace . On April 8, ...

  • bausch & Lomb
    Article

    Bausch Health to spin off its eye health unit

    2020-08-10T05:56:00Z

    Bausch Health intends to spin off its eye health business into an independent publicly traded entity. It will be an integrated, pure play eye-health company built on the Bausch + Lomb brand. The timing of the spinoff is tied to certain conditions and approvals, including the reorganization ...

  • News briefs

    Global bankruptcies may rise by 35% over 2 yrs

    2020-07-21T09:04:00Z

    Global corporate bankruptcies are expected to rise by 35 percent in 2021 compared with 2019 because of the Covid-19 pandemic, representing an average annual compound growth of 16 percent in 2020 and 2021, an annual average similar to the one seen during the 2007-2009 crisis, according to a study from ...

  • Inspecs
    Article

    Inspecs takes over Norville’s manufacturing operations

    2020-07-14T12:53:00Z

    (Update) Inspecs has bought the manufacturing operations of The Norville Group that was placed into administration after becoming insolvent. The assets were bought from the administrator, BDO LLP , for £2.4 million in cash (€2.6m-$3.0m). The acquisition includes £1.2 million (€1.3m-$1.5m) of freehold property for Norville’s Gloucester ...

  • Inventory
    Article

    How are retailers managing excess stock in Covid-19 times?

    2020-07-07T07:02:00Z

    Managing stock has always been a tricky part of any business. But it becomes even more so when demand evaporates overnight as occurred with the outbreak of the Covid-19 pandemic and the subsequent lockdowns worldwide, prompting manufacturers and retailers to be nimble and explore various different solutions.

  • News briefs

    Kering to create testing laboratory in Tuscany

    2020-06-30T18:34:00Z

    The French fashion group Kering is setting up a Test Innovation Laboratory (TIL) in Prato, Tuscany. It will provide chemical and other tests on products and raw materials for apparel, leathergoods, footwear, eyewear, watches and jewelry. It is scheduled to start operating in the first half ...

  • News briefs

    GrandVision obtains extra funding, covenant relief for 2020

    2020-06-29T11:33:00Z

    GrandVision has obtained an additional liquidity facility of €400 million as well as an amendment to its existing €1,200 million revolving credit facility (RCF), running to 2024, providing covenant relief for 2020. The additional liquidity facility is provided by five banks and will be available in the event ...

  • Rodenstock
    Article

    Rodenstock completes a €75 million capital increase

    2020-06-18T06:02:00Z

    Rodenstock  has obtained funds from its shareholders to finance its development while its business is recovering faster than expected from the coronavirus crisis.

  • News briefs

    Schneider to absorb Team H&K

    2020-06-16T05:47:00Z

    Team Henrich Krall , the manufacturer of optical equipment acquired by Germany’s Schneider Group in 2013, will merge into Schneider GmbH Co. effective Oct. 1, 2020. Team H K has been operating as an independent company but its operations were restructured after Jürgen Krall ...

  • News briefs

    Andy Wolf ramps up production

    2020-06-15T14:53:00Z

    Andy Wolf Eyewear , the Austrian brand of designer eyewear, has told us that, to protect employees, it switched its production sites in Hartberg, Austria, and Jura, France, to emergency care in the first couple of weeks of the coronavirus lockdown. The company is now restarting operations step by ...

  • Article

    L’Amy gets protection from creditors

    2020-06-10T09:28:00Z

    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 ...

  • Article

    Cecop moves into North America

    2020-06-02T12:58:00Z

    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 ...