All Corporate articles – Page 10
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ArticleSafilo close to a complete solution for its Longarone plant
The Safilo Group seems to be coming closer to a satisfactory solution for its industrial site in Longarone, Italy, which the company said it would need to divest at the start of the year due to a “persistent production overcapacity.” Just a few days after confirming talks with Thélios, LVMH ...
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Safilo officially in talks with Thélios for Longarone plant
Safilo Group has officially confirmed that it was engaged in advanced negotiations with Thélios, the LVMH group’s eyewear unit, for the transfer of its Longarone facility, a plant focusing on the production of metal frames. The group stressed that this would allow to preserve the plant’s know-how and retain a ...
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ArticleVuzix OEM consumer smart eyewear business enters countdown phase
Vuzix’ management was not short of images, martial or witty, to describe the state of its business to its shareholders during the annual meeting held at the group’s headquarters last week: shipping boats, battleships, a dog and even a frog helped to convey the company’s expectations for its imminent takeoff, ...
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Theo owners invest in Komono
Mik, Jan and Toon Somers, owners of independent eyewear brand Theo have acquired a 40 percent stake in Komono. Both companies are based in Antwerp, Belgium. According to the Belgian business press, Komono sales went down from €16 million in 2017 to around €10 million currently, as the pandemic and ...
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ArticleKRYS GROUP to raise lens production capacity by 30%
KRYS GROUP has announced the completion of the building of its new plant at its CODIR industrial and logistic center in Bazainville, near Paris. The new 4,800 square meter structure, which is slated to become operational early next year at the latest, will enable the French optical retailer to accelerate ...
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MEI opens a new branch in India
Italian-based equipment maker MEI is pursuing its expansion with the opening of a new subsidiary in India. The company, which was initially present with a simple customer service office in Bangalore, decided to open a new branch to improve technical and commercial support for its Indian customers. MEI added that ...
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ArticleMitsui to increase MR output and bolster synergies with coating unit in FY 2023
Mitsui Chemicals has reported a 33 percent year-on-year increase in revenue to 258 billion Japanese yen (€1.7bn) in fiscal 2022 for its Life & Healthcare Solutions business, a unit that includes sales of vision care materials but also other product categories, such as agrochemicals and nonwovens. Operating margin for the ...
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ArticleFielmann enters U.S. market with dual acquisition and high-profile recruitment
The Fielmann Group announced yesterday its entry into the U.S. market with the dual acquisition of a brick-and-mortar regional optical retail leader and an e-commerce specialist through which the German-based company plans to deploy its omnichannel business model in the country. In what group CEO Marc Fielmann describes as ...
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ArticleCooperVision to invest $500 m in Puerto Rico manufacturing base
CooperVision has announced a $500 million investment for the expansion of its operations in Puerto Rico, including the enhancement of existing facilities in Juna Diaz and the building of a new factory in Ponce. In more details for the Juna Diaz facilities, CooperVision said it would convert a 2,000 square ...
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News briefsWalmart ups pay and benefits for optical, pharmacy staff
Walmart is raising wages and funding certifications for thousands of its pharmacists and opticians. Some 3,700 pharmacists have seen their pay rise to “more than $140,000” per year, exclusive of bonuses and incentives. Pay raises are still to come for about 4,000 opticians, who will be earning an hourly wage ...
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Change at the top of De Rigo holding
The De Rigo Group has announced that Roberto and Giorgio de Rigo have transferred their shares in De Rigo Holding, corresponding to a 50 percent stake in the company, to Ennio de Rigo, their uncle, and Emiliana De Meio who thus become the sole shareholders in both the holding company ...
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ArticleJINS downgrades outlook, rethinks business model and supply chain
JINS HOLDINGS has downgraded its outlook for the current fiscal year ending next Aug. 31 after mixed results in the first half of the year, mostly due to lackluster sales on the Japan-based group’s domestic market. Sales in Japan grew by 2.4 percent year-on-year in H1 to 26,2 billion Japanese ...
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Italia Independent Group restructuring approved by court
The Italia Independent Group (IIG) announced that its debt restructuring deal reached with creditors in mid-February has been approved by the court of Ivrea, Italy and extended to creditors who were not parties to the original accord. The debt restructuring agreement foresees that creditors to IIG, the holding company, will ...
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ArticleFielmann draws path to 2025 revenue and profit targets
Along with the publication of positive Q1 results (see our other article), Marc Fielmann, CEO of the Fielmann Group, presented yesterday during a press conference the key figures for the retailer’s business in 2022, its outlook for 2023 and an update on its Vision 2025 strategic plan. As already reported ...
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ArticleVuzix opens European HQ, banks on OEM platform for consumer smart eyewear
U.S.-based smart eyewear manufacturer Vuzix has announced the opening of a new office in Munich, Germany, to expand its business in Europe. The new office, established at Vuzix Europe GmbH, will serve the EU region as well as the Middle East and Africa. It will also operate with a global ...
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Topcon and National Vision lead $8 m investment round in Toku Eyes
Toku Eyes, a New Zealand-based tech company specializing in AI-powered eye screening tools has announced the completion of a $8 million Series A investment round that will help it accelerate its technical and commercial development. The round was led by National Vision, a leading U.S. optical retail group with over ...
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Safilo reportedly in advanced talks to sell Longarone plant
Safilo management has told unions that it is in “advanced talks” to sell its factory in Longarone, according to Italian news reports, which note that Thélios is now widely considered to be the frontrunner to purchase the plant. According to the newspaper Corriere delle Alpi, Thélios could also take on ...
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ArticleItalia Independent pushes back approval of 2022 results amid debt restructuring deal
The Italia Independent Group (IIG) said it is postponing the board-of-directors meeting called to approve 2022 results until May 29 from March 28, after recently reaching a debt restructuring deal with creditors. The Italian eyewear group said the postponement of the board meeting is necessary because the auditor still has ...
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DEG moves French team to Paris’s center
Danish-based Design Eyewear Group (DEG) is moving its French subsidiary’s headquarters to the fourth “arrondissement” of Paris. The new location will host the French teams for customer relations, European sales and marketing, and design. DEG owns three French eyewear brands (ALIUM, FACE A FACE and WOOW). Overall, the group employs ...
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News briefsAmerican frame maker gets capital infusion
Blue Point Capital Partners is investing in Europa Eyewear. The American company manufactures frames for 11 proprietary trade and consumer brands, the most recent of which are STATE and American Optical. It says it operates the largest eyewear factory in the U.S. The company has remained in the hands of ...
