All Corporate articles – Page 13
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News briefs
Italia Independent to lay off 29 employees
Italia Independent Group, the Italian maker and distributor of eyewear and sunglasses, has informed the trade unions that it will lay off 29 employees of its site in Venaria Reale, near Turin, where it has its headquarters and a warehouse. The decision is part of the restructuring plan that the ...
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Mitsui Chemicals co-founds VC fund
Mitsui Chemicals of Tokyo – maker of lens materials and coatings, among many other products – has established a venture capital fund with the independent Japanese VC firm Global Brain Corporation. Called 321FORCE, the fund will be investing in start-ups in Mitsui’s four business lines (life & healthcare, mobility, ICT ...
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ic berlin acquires German startup’s carbon-fiber technology
ic! berlin has acquired the assets of Kerl Eyewear, a startup company created five years ago by two friends, Jaromir Ufer and Johannes Dillinger, in Göttingen, Germany. The acquisition includes Kerl Eyewear’s know-how and carbon-fiber technology. The company has developed FLEXCARBON, a proprietary carbon material inspired by aerospace engineering and ...
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ArticleParis Miki to invest €50m in 3-year turnaround plan
Paris Miki revenues inched up to 44.1 billion Japanese yen (€308m) in its fiscal year ended in March 2022, a 0.5 percent increase compared to the previous year. It is only the second time in the last decade that the retailer saw its sales go up year-on-year as the group’s ...
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New share buyback plan at EssilorLuxottica
EssilorLuxottica has announced the launch of a share buyback program for the purchase through a mandated investment services’ provider of up to 2,500,000 of its shares, or about 0.6 percent of all outstanding shares, between June 17 and August 2022. The right to launch such programs was authorized by the ...
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ArticleKering Eyewear sets €2bn annual revenue target
As part of its capital markets day last week, French luxury group Kering presented an update on the business of Kering Eyewear, announcing a midterm revenue target of €2 billion per year, compared to €706 million in 2021, and an EBIT margin of over 15 percent. The group also shared ...
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ArticleLenskart starts a $100 m fund for DTC eyewear brands
Lenskart, the Indian omnichannel retailer and eyewear manufacturer, has created a $100 million fund dedicated to investments in direct-to-consumer (DTC) eyewear brands as the company believes that the market is now “ripe for a tech-enabled global transformation”. Drawing a comparison with other sectors that have been deeply transformed by e-commerce ...
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Innovative Eyewear updates plans for IPO
Last month Innovative Eyewear of Miami, Florida, filed a new preliminary prospectus with the U.S. Securities and Exchange Commission (SEC) for an eventual IPO on the NASDAQ. No date is yet specified for the public offering, but the offering price will lie between $5.50 and $7.50 per unit. Based on ...
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ArticleNew HOYA CEO presents group’s roadmap
During the presentation of HOYA’s annual results last month, Eiichiro Ikeda, who was appointed as CEO at the start of the year, delivered an update on the group’s roadmap and main management challenges for the years ahead. After having taken a look back at the HOYA’s 80-year history and reaffirmed ...
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All Essilux board resolutions adopted by shareholders at AGM
EssilorLuxottica shareholders have approved all 16 resolutions proposed by the board of directors at the group’s annual meeting, the company has announced. These include, among others, the compensation policy applicable to the company’s executive corporate officers with bonuses of €2.8 million for Francesco Milleri, CEO, and €2.5 million for Paul ...
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ArticleRodenstock adds M&A to technology in growth mix
“We are targeting to outgrow the optical market by two to three times with organic growth, but we are also looking at possible acquisitions to enter new markets,” Anders Hedegaard, CEO of the Rodenstock Group, told us as we were concluding our interview a few days ago, right after the ...
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Visionix and Right MFG partner
Visionix (formerly Luneau Technology) and Right MFG have entered a long-term exclusive partnership for Europe, the Americas and Asia-Pacific, except Japan and China. The agreement is aimed at combining the former’s distribution network with the latter’s development and production. On Jan. 1, 2023, all Righton products will be folded into ...
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ArticleOut Of to accelerate optical distribution
Out Of has signed a sponsorship deal with Paolo Bettini, the former professional cyclist, who was Olympic champion at the 2004 games in Athens and back-to-back world champion in 2006 and 2007. Bettini will be wearing the brand’s eyewear throughout the 2022 season. The Italian start-up was founded by two ...
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ArticleBausch + Lomb sees 5% organic sales growth in Q1 as IPO wraps up
Bausch Health sold 35 million common Bausch + Lomb shares, or a 10.0 percent stake, at a price of $18.00 per share, in an initial public offering yielding gross proceeds of $630 million and valuing its subsidiary at about $6,300 million. Joseph Papa, chairman of Bausch Health and CEO of ...
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ArticleLentesplus raises $9m for development in LATAM
Lentesplus, a Bogota-based company specializing in online retail of contact lenses, raised $9 million last month in order to further expand its footprint in Latin America as well as to accelerate its transition to a vertically-integrated omnichannel business model and to develop its eyeglasses’ catalog. Founded seven years ago by ...
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Kering issues dual-tranche bond
Kering announced on April 29 that it had issued a dual-tranche bond, each tranche being worth €750 million. One has a three-year maturity and a 1.25 percent coupon, the other an eight-year maturity and a 1.875 percent coupon. The group says the issue is in accordance with its active liquidity ...
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Bausch + Lomb to be spun off in IPO
Bausch Health Companies is spinning off Bausch + Lomb Corporation. The announcement came on April 28 that Bausch + Lomb would be making an initial public offering of 35.0 million common shares on the New York Stock Exchange (NYSE) and the Toronto Stock Exchange (“TSX”), under the ticker symbol BLCO ...
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Bausch + Lomb to contract $2.7 bn loan before IPO
Bausch Heatlh has announced that its subsidiary Bausch + Lomb was looking into securing a new credit agreement ahead of its Initial Public Offering (IPO), scheduled to take place in the course of this year. The company is seeking to contract a $2.5 billion term B loan and an additional ...
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ArticleLens maker Shamir invests in eye tracker Blink
Shamir Optical, manufacturer of progressive and single-vision lenses and molds, is purchasing a stake in Blink Technologies, a company headquartered in the tech-rich city of Palo Alto, California, and whose chief product is software that tracks eye movements across screens and makes it possible to use such movements to perform ...
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ArticleChristopher Cloos swaps shares for ads with U.S. media group
Christopher Cloos, a Danish-based brand of sunglasses and prescription eyewear, has signed an unusual share deal with a360 Media, a U.S. publisher of magazines and websites focusing on celebrities’ news and health and fitness. The eyewear company has agreed to sell 9 percent of its shares to the media house ...
