All Corporate articles

  • Article

    Solstice Sunglasses files for bankruptcy protection


    Solstice Marketing Concept LLC , owner of the Solstice Sunglasses retail chain, filed for Chapter 11 bankruptcy protection last week in the Southern District of New York, after its sales nose-dived by more than 50 percent last year from 2019 levels. The company highlighted the impact of the Covid-19 ...

  • CooperVisionlenses

    ​CooperVision expands manufacturing facilities as demand grows


    CooperVision announced the expansion of manufacturing facilities located in North America and Europe due to growing demand for its contact lenses. It also believes that the Covid-19 pandemic will force eye care professionals (ECP) to review their long-term business practices. The Gilbert site, situated in suburban Phoenix and ...

  • News briefs

    Bausch Health repaid $900m in debt in 2020


    Bausch Health repaid some $900 million in debt in 2020 from cash on hand and cash generation. The company has no debt maturities or mandatory amortization payments until 2024. In the fourth quarter, the company repaid about $480 million in debt, the last payment being made on Dec. ...

  • Neubau Eyewear
    News briefs

    Silhouette’s Neubau brand becomes an independent unit


    Neubau Eyewear , which is owned by the Austrian company Silhouette International , will operate as an independent company from Jan. 1. It will become a subsidiary with its own sales and marketing channels but production will still be guaranteed by Silhouette’s two production sites in Austria. Neubau, ...

  • News briefs

    LVMH head sees company exiting the Covid-19 crisis stronger


    The French luxury goods group LVMH is coming out of the Covid-19 crisis “rather stronger” thanks to its worldwide presence, according to its chairman and chief executive Bernard Arnault . “We have for a long time had the strategy of covering most of the planet with our sites, ...

  • Gemoptics logo

    Manager takes over GemOptics from Mondottica


    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


    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


    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

    New CEO and brand positioning for Hoya Vision Care


    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

    Synsam builds new plant as it moves production to Sweden


    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

    Essilor restructures its French sites


    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


    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


    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

    Safilo secures €108.0 million government-backed financing


    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

    Bausch Health to spin off its eye health unit


    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


    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

    Inspecs takes over Norville’s manufacturing operations


    (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

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


    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


    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


    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 ...