All Corporate articles – Page 17
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ArticleFashion-focused Mondottica upbeat about post-Covid rebound
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, founder and former ...
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ArticleMister Spex, Warby Parker: omnichannel retail going public
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 million. ...
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ArticleLuxottica takes 35% stake in Mazzucchelli
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 in the ...
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ArticleKey Essilor directions switched to Italian management
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 by Paul du Saillant, ...
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ArticleEssilux-GV transaction gets final green light from Turkey
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 clearance was granted after EssilorLuxottica ...
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News briefs
Mister Spex reportedly eyeing IPO
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 this purpose. The magazine further reports ...
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ArticleMenicon plans 60% growth by 2025
Celebrating its 70th 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 for 2020/21 because ...
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ArticleGrupo Prats opens new plant in Costa Rica
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 that it ...
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ArticleLuxottica opens new Japanese factory
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 gold frames ...
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News briefs
Snap buys WaveOptics for $500 million
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 WaveOptics for many years. Both ...
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News briefs
Afflelou refinances its debt
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 operation ...
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ArticleDel Vecchio takes control of Essilux
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 eyewear market ...
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ArticleINDO invests to become a Mediterranean leader
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 percent ...
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News briefs
Bausch Health might sell Bausch+Lomb, rather than spin it off
Quoting sources close to the matter, Bloomberg News reported last week that Bausch Health was currently exploring the possibility of a sale of its Bausch+Lomb’s eye care business unit, instead of the initially planned spin-off. Before being renamed as Bausch Health, Valeant Pharmaceuticals International had acquired Bausch & Lomb Holdings ...
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News briefs
New board of directors at Safilo
Safilo Group’s shareholders approved on April 29 the company’s accounts for the 2020 financial year and appointed a new board of directors, increasing its composition from 9 to 10 members. Elected board members proposed by Multibrands Italy, an entity controlled by HAL Holding that holds 49.84 percent of Safilo Group’s ...
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News briefs
Warby Parker reportedly eyeing IPO
According to a Bloomberg report last week, Warby Parker, the U.S. eyewear brand is considering an Initial Public Offering (IPO) and has started discussions with financial advisers for this purpose. Founded in 2010 by a group of university students, Warby Parker has been one of the first companies in the ...
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ArticleVisottica Comotec reinforces, diversifies portfolio with new acquisition
Visottica Comotec, the Italian supplier of eyewear components, announced on April 10 the takeover of Eurodecori, another Italian company that specializes in the supply of small metallic parts and accessories for the eyewear industry as well, but is also active in the fashion, leather goods and giftware ...
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News briefs
Safilo agrees with unions on Slovenian plant closure
Safilo announced on April 14 that it has reached an agreement with the Slovenian trade unions and work council concerning the closure of its production site in Ormoz. The decision, which is part of the transformation plan of the Italian group, was first communicated in March. Production volumes in the ...
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News briefs
Bausch Health pursues debt reduction
Bausch Health announced on April 7 that it will reduce its debt by another $100 million in May through the redemption of outstanding senior secured notes, using cash generated from operations. The Canadian group had already redeemed a total of $200 million through a similar operation in March. Last year, ...
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News briefs
DTC brand PAIR Eyewear raises $12 million
PAIR Eyewear, a U.S. brand with an online DTC business model, announced on April 1 that is has raised $12 million dollars in an investment round to finance its future development. Several private equity funds took part in the investment round, as well as other investors such as NFL player ...
