All Corporate articles – Page 3
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ArticleNational Vision reels as Walmart prepares to end partnership
National Vision shares took a hit in trade on the Nasdaq stock exchange July 27, tumbling 22 percent on the day after the surprise announcement that U.S. retailing giant Walmart has decided to end its long-standing partnership with the optical retailer next year. Walmart’s decision not to renew the partnership ...
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ArticleTooz smart eyewear keeps focus on optical engines and scalability
After many years of teasing, spectacular announcements and some renouncements by industry players, smart glasses are now on the verge of fulfilling their initial promises and entering the mass consumer market. All of a sudden, it seems like an entire industry is in the starting blocks as years of research ...
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News briefs
L’Amy Luxe enters liquidation proceedings
The L’AMY 1810 group has announced that it has put L’AMY LUXE in compulsory liquidation for “economic reasons.” As previously reported, the company had been saved from insolvency proccedings in 2020 by its shareholder International Luxury Group (ILG) and MadaLuxe, an American partner. Since then, L’AMY LUXE has been mostly ...
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ArticleMicro-display company gets a €21m boost
Private-equity firm Jolt Capital is leading a €21 million round of funding for MicroOLED, which designs and manufactures low-voltage micro-displays. Joining Jolt in the operation are the French sovereign wealth fund Bpifrance (through an entity called Innovation Defense) and two past investors in MicroOLED, Cipio Partners and Ventech. The micro-displays ...
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News briefsIndo is back in Chile
Indo Optical of Barcelona has reentered Chile, a market it left about a decade ago, according to Look Vision. The announcement came at an event in Chile, in the presence of global product manager Jose de la Rubia and Chile sales directors Walton Ojeda and Francisca Gurtubay. This is the ...
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News briefs
Wagner + Kühner to exit insolvency proceedings
In a statement relayed by the German optical trade press, Jens Lieser, the administrator appointed to oversee Wagner + Kühner’s insolvency proceedings, has announced that the company would be able to pursue its operations after the acquisition by an unnamed investor. Various restructurings have reportedly been implemented, including the reduction ...
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News briefs
Bausch + Lomb expands drops portfolio with two acquisitions
Bausch + Lomb has announced the acquisition of two eye drops’ brands in the last two weeks as the company is aiming to expand its catalog of over-the-counter (OTC) eye care solutions. The first acquisition is the takeover of Xiidra, an eye-drop solution for the treatment of dry eye disease, ...
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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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News briefs
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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News briefs
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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News briefs
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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News briefs
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 ...
