All Corporate articles – Page 11
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ArticleAlcon jockeys for market share in reusables, sees mid-single digit percentage contact lens growth
Alcon is seeking to gain market share in the reusable contact lens segment, while also continuing to capitalize on the overall market trend of consumers moving towards daily lenses and away from reusables, management indicated in the company’s capital markets day with analysts. Alcon management noted that its market share ...
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Essilux announces record level of employee shareholding
EssilorLuxottica has announced that 58,000 employees subscribed to its employee shareholding plan last year, representing a 65 percent subscription rate among eligible staff. At the end of the year, a total of 72,000 employees in 85 countries hold a share in the group compared with 63,000 in 2020 and 67,000 ...
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Essilux to invest $11m in support of future U.S. optometrists
Against the backdrop of a lingering shortage of eye care professionals in the U.S., EssilorLuxottica has announced that it would invest $11 million in the next two years in support of future optometrists in the country, in partnership with the Association of Schools and Collegues (ASCO). The budgeted amount includes ...
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ArticleKRYS GROUP up 5 % in 2022, announces 2028 plan and targets
Having achieved its Vision 2025 plan targets – €1 billion in network sales and a 2.5-point market share gain – two years ahead schedule, the KRYS GROUP presented a new 5-year strategic plan at its general assembly last weekend. The retailer also communicated its financial results for the fiscal year ...
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ArticleFast-growing Woodys moves to new HQ
Eyewear brand Woodys has announced that it was moving to a new 3,000 square meter headquarters in Vic, near Barcelona. The company stressed that the three-flour office was built with sustainability in mind, notably through the installation of solar panels for energy supply and the use of geothermal energy for ...
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Abu Dhabi invests $500 m in Lenskart
Abu Dhabi Investment Authority (AIDA), a sovereign wealth fund owned by the Emirate of Abu Dhabi, is investing $500 million in Indian-based retail group Lenskart, various Indian business media just confirmed. AIDA’s investment will mostly consist of secondary share sales as early investors in the group, including largest shareholder SoftBank, ...
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ArticleKering Eyewear invests in supply chain with new acquisition
Kering Eyewear is investing in its industrial development through the acquisition of Usinages & Nouvelles Technologies (UNT), a French-based manufacturer of high-precision and metal components for luxury eyewear that has been a longstanding supplier of Manufacture Kering Eyewear (formerly Manufacture Cartier Lunettes), the company has announced. Founded in 1989 and ...
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ArticleSafilo turns to luxury eyewear and fashion companies for its Longarone plant
Angelo Trocchia, CEO, indicated that the company is evaluating the “potential transfer of the Longarone plant to third parties with a view to preserving the know-how of the site and minimizing the social impact on the territory”. Trocchia, who was speaking during a capital markets day with analysts following the ...
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ArticleKubota Glass reports first sales, expands distribution in Japan
Kubota Pharmaceutical Holdings has announced the signature of a distribution agreement for Kubota Glass, its myopia management glasses, with EYETOPIA, a regional chain of optical shops in Japan that will offer the device in some of its roughly 170 Megane Store locations. In December last year, Kubota also opened a ...
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ArticleZEISS to accelerate in AR/VR glasses as tooz’ sole owner
ZEISS has announced its full acquisition of tooz technologies, the joint venture that it launched in 2018 together with Deutsche Telekom in order to develop augmented reality (AR) and virtual reality (VR) glasses. By buying the 50 percent share of its telecom partner, ZEISS becomes tooz’ sole owner and the ...
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Fast growth but red ink for Lenskart in 2022, new funding round in progress
Eyewear retail group Lenskart has launched a new funding round for an estimated $400-$500 million according to several reports in the Indian business media. The round would however consist for a large part of secondary share sales as early investors reportedly plan to divest some of their stake in the ...
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Tech startup PTTRNS raises €2m in new funds
PTTRNS.ai, a tech company providing AI-based style recommendation software for the fashion and eyewear industry, has raised €2 million in new equity from ECFG, a Dutch-based private equitiy fund. This follows an earlier €2.5 million rund as reported in 2021. Founded in 2019 and also based in the Netherlands, PTTRNS ...
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ArticleACEP looks abroad for growth
ACEP, the French-based supplier of digital tools and services for optical shops, is accelerating its international development with the opening of a subsidiary in Japan on Jan. 1, Jean-Philippe Sayag, CEO of the company told us in an interview. The company has been operating branches in the U.S. and Spain, ...
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ArticleNew top management structure to steer MAGRABi's expansion plans
MAGRABi Retail Group, a leading eyewear retailer in the Middle East, has reshuffled its top management structure with several key appointments at the start of 2023, after the company strongly accelerated its investments in both network expansion and vertical integration in the course of last year. Effective Jan. 1, Amin ...
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Horizons Optical hits 8 million freeform lenses last year
Horizons Optical, the Spanish-based supplier of lens designs and related services, has announced that over 8 million freeform lenses were produced last year using its technology by more than 130 ophthalmic laboratories throughout the world. The company said that the volume increase in its core business and the roll-out of ...
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News briefsVisionLab going high tech
This year VisionLab will be investing €5 million in its optical shops to bring their services into line with new user demands, according to Look Vision. The optometrics are to include virtual functions for remote measurements, which will reportedly shave about 20 minutes from the average consultation. The Spanish chain ...
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Wagner + Kühner files for insolvency
German-based eyewear supplier Wagner + Kühner filed for insolvency proceedings on Jan. 31. A slowdown in opticians’ orders, added to the company’s high level of debts reportedly triggered the insolvency filing. Jens Lieser, the appointed administrator, said that the business and deliveries were continuing as usual during the proceedings. Wagner ...
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ArticleSynsam details roadmap to mid-term financial targets
During its Capital Markets Day held on Jan. 30 at one of its flaship store in Stockholm, Nordics’ leading retailer Synsam Group confirmed its medium-term financial targets and disclosed more information and figures on how it would achieve them. The presentation took place as the group’s share price lost about ...
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Hoya invests $10 million in Canadian labs
Hoya Vision Care has annouced that it would invest close to $10 million in the expansion of its Canadian lab network. The group’s Canadian subsidiary is the first optical lab in North America to have installed SCHNEIDER’s new Modulo Center One surfacing system for an improved efficiency, the announcement reads. ...
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Mojo Vision shelves its AR contact lens
Mojo Vision CEO Drew Perkins announced in a blog post a few days ago that the U.S.-based tech company was halting the development of Mojo Lens, its augmented reality (AR) smart contact lens. Perkins said that the decision was motivated by difficulties in raising new capital in a slumping global ...
