All Corporate articles

  • News briefs

    Luxottica acquires a training institute in Tuscany

    2021-07-20T06:01:00Z

    Luxottica has announced the acquisition of the Italian Institute of Research and Studies in Optometrics ( IRSOO ), a historical school of optics and optometry located in the town of Vinci, near Florence. The institute has been purchased from the Empolese Valdelsa Development Agency by the Italian ...

  • Dijon Entrance (002)
    Article

    Essilux opens smart eyewear innovation center in France

    2021-07-15T07:51:00Z

    EssilorLuxottica announced earlier this week the creation of a smart eyewear innovation center in France. Located at the group’s production site in Dijon, the new Smart Eyewear Technologies Center aims at reinforcing the company’s expertise and expanding its capabilities in electrochromic – electronically-powered and automated change of the ...

  • News briefs

    Ocuco to boost R&D following €40m refinancing

    2021-07-13T10:46:00Z

    Ocuco , the Irish-based provider of eyecare software for opticians, optometrists and laboratories, announced on July 12 the completion of a €40 million refinancing, including €25 million from Wells Fargo Capital Finance and a total of €15 million in two instalments from the Ireland Strategic Investment Fund , ...

  • News briefs

    Marcolin inaugurates new offices in Milan

    2021-07-09T07:16:00Z

    Marcolin inaugurated on July 6 its new offices in Milan, in connection with the company’s 60 th anniversary and its broader corporate development strategy. Presented as a contemporary space for dialogue and located in a neoclassical building on the Corso Venezia, the two-floor offices include rooms for collections’ ...

  • BW_GL
    Article

    GLCO to boost DTC under new ownership

    2021-07-07T07:35:00Z

    Garret Leight Califiornia Optical ( GLCO ), the Los Angeles-based eyewear brand, has announced a strategic investment by The Untitled Group , an investment company specializing in consumer brands based in New York. According to the terms of the agreement, Untitled is investing $20 million in exchange for a ...

  • GrandVision_logo
    Article

    Essilux-GV: transaction closed

    2021-07-02T03:16:00Z

    As expected since EssilorLuxottica ’s previous announcement two days ago , the group completed on July 1 the acquisition of HAL ’s 76.72 percent stake in GrandVision at the price of €28.42 per share agreed in July 2019. The transaction will amount to a payment of approximatively €5.5 billion ...

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    Article

    Safilo to launch €135m capital increase

    2021-07-01T07:18:00Z

    The board of directors of Safilo has decided to propose a share capital increase of up to €135 million, the company announced on June 30. The group said that the main objectives of the capital increase were the reimbursement of a shareholder loan to Multibrands , a subsidiary of ...

  • Mondotica
    Article

    Fashion-focused Mondottica upbeat about post-Covid rebound

    2021-07-01T07:12:00Z

    Mondottica International , the eyewear company specializing in licensed eyewear, is preparing for the launch of its first Vivienne Westwood eyewear collections in the second half of the year. The new license is the first addition to the Hong Kong-based company’s portfolio since the departure of Michael Jardine , ...

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    Article

    ​Mister Spex, Warby Parker: omnichannel retail going public

    2021-06-25T08:07:00Z

    In a press release dated June 22, Mister Spex ’ announced that its floatation at the Frankfurt stock exchange was scheduled for next week, July 2. The company set a price of between €23 and €27 for its initial public offering (IPO), corresponding to a valuation of up to €895 ...

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    Article

    Luxottica takes 35% stake in Mazzucchelli

    2021-06-16T06:14:00Z

    On June 11, the Italian entity of the EssilorLuxottica group announced the acquisition of a 35 percent share in Mazzucchelli 1849 , the industry leader in the supply of high-end acetate sheets for the fabrication of eyewear frames. The balance of 65 percent of shares remains ...

  • EssilorLuxottica logo
    Article

    Key Essilor directions switched to Italian management

    2021-06-11T12:14:00Z

    According to a report by the French business newspaper Les Échos on June 9, Francesco Milleri , CEO of EssilorLuxottica since the last general assembly of shareholders, has been appointed as Essilor International ’s CEO as well, taking over responsibilities assumed since April last year ...

  • GrandVision_logo
    Article

    Essilux-GV transaction gets final green light from Turkey

    2021-06-11T12:05:00Z

    All regulatory lights are now green for EssilorLuxottica and GrandVision as Rekabet Kurumu , the Turkish regulator, gave its blessing to the transaction between both parties, through which the Franco-Italian company would purchase 76.72 percent of HAL ’s interest in the Dutch-based retail group. The Turkish regulator’s ...

  • News briefs

    Mister Spex reportedly eyeing IPO

    2021-06-11T08:44:00Z

    According to the German business magazine WirtschaftsWoche , Mister Spex is planning an Initial Public Offering (IPO) to trade on the Prime Standard stock exchange in Frankfurt early next month. The optical retailer has reportedly hired the financial services of Berenberg , Jefferies and Barclays for ...

  • Menicon
    Article

    Menicon plans 60% growth by 2025

    2021-06-03T08:26:00Z

    Celebrating its 70 th anniversary this year, the contact lens specialist Menicon presented last month its midterm business plan and targets during the presentation of its annual financial results. The Japanese group, which said it fell short of realizing its 100 billion yen revenue target ...

  • Prats Costa Rica
    Article

    Grupo Prats opens new plant in Costa Rica

    2021-06-03T08:25:00Z

    Grupo Prats , the Spanish-based lens manufacturer, is accelerating the internationalization of its business with the inauguration of a new production unit in Costa Rica, which was inaugurated a few weeks ago. It is the first production facility outside Europe for the group. The company said ...

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    Article

    Luxottica opens new Japanese factory

    2021-05-27T08:50:00Z

    Luxottica Japan announced last month the opening of a new state-of-the-art factory in Fukui, the country’s cluster of eyewear frames’ manufacturers. The investment follows the acquisition of a majority stake in Fukui Megane in 2018, one of the Italian group’s suppliers for titanium and solid ...

  • News briefs

    Snap buys WaveOptics for $500 million

    2021-05-25T06:38:00Z

    Snap , the company behind the Snapchat application, is taking over WaveOptics , a U.K.-based supplier of waveguides for smart glasses, according to a report last week by The Verge . Evan Spiegel , CEO of SNAP, later confirmed the acquisition, adding that the company had been working with ...

  • News briefs

    Afflelou refinances its debt

    2021-05-25T02:20:00Z

    In order to refinance its debt, Alain Afflelou , the French optical retailer has reportedly emitted a new series of high-yield bonds for a total of €485 million, coming for the most part to maturation in 2026 at a rate of 4.25 percent. The company already went through a similar ...

  • EssilorLuxottica logo
    Article

    Del Vecchio takes control of Essilux

    2021-05-25T01:35:00Z

    As largely anticipated by industry observers, EssilorLuxottica ’s annual general assembly marked the end of the dual governance era and saw Leonardo Del Vecchio reinforce his control over the merged group. Implemented in 2018, the merger between two global champions in their respective segments of the ...

  • 2020-10-28 INDO fctry-670
    Article

    INDO invests to become a Mediterranean leader

    2021-05-13T11:29:00Z

    INDO , the Spanish-based lens manufacturer, increased its market share in Spain by 1.5 percentage points last year, consolidating its position as the third largest lens brand in the country. According to figures provided by the company, its revenues in the lenses’ category went down by 4 ...