All Corporate articles – Page 14
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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 ...
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ArticleKRYS GROUP announces €50 million investment plan
The KRYS GROUP reported a 18.5 percent year-on-year increase in network sales of optical products and hearing aids to a total of €1,199 million, including VAT, for 2021. As compared to the pre-Covid 2019 reference year, stores sales were up by 7.8 percent. The hearing-aids Krys Audition unit saw its ...
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Maison Morel to receive French subsidy
Maison Morel will be among the selected beneficiaries of the “France Relance” fund for production-related investments. Hoping to stimulate the economy, the French government has earmarked €30 million for ecology, €34 million for competitiveness and €36 million for social cohesion. The subsidy was announced by French prime minister Jean Castex ...
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U.S. sunglass brand Knockaround attracts capital
Brand Holdings LLC has completed a growth equity investment in Knockaround. Founded in 2005 and headquartered in San Diego, California, Knockaround produces polarized sunglasses, blue-light blocking glasses, ski and snowboard goggles, and custom designs. Its founder, Adam Moyer, describes it as a “fun and functional sunglasses brand” that is “both ...
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Safilo reaches deal for layoffs at Longarone
Safilo has reached an agreement with employee representatives regarding around 120 redundancies at its Longarone manufacturing plant in Northern Italy. Requests of voluntary departures have to be presented by March 11, with effective departures scheduled by March 31. The restructuration plan presented in 2020 by the company called for about ...
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Prats achieves total automation
The Spanish multinational Prats has completed what it calls the world’s most automated production line for ophthalmic lenses. It has set down the final puzzle piece at its logistical hub in Madrid, where a robot now both warehouses the produced lenses and dispatches them to the proper agencies for transport. ...
