All Corporate articles – Page 4
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News briefs
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 ...
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ArticleFielmann draws path to 2025 revenue and profit targets
Along with the publication of positive Q1 results (see our other article), Marc Fielmann, CEO of the Fielmann Group, presented yesterday during a press conference the key figures for the retailer’s business in 2022, its outlook for 2023 and an update on its Vision 2025 strategic plan. As already reported ...
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ArticleVuzix opens European HQ, banks on OEM platform for consumer smart eyewear
U.S.-based smart eyewear manufacturer Vuzix has announced the opening of a new office in Munich, Germany, to expand its business in Europe. The new office, established at Vuzix Europe GmbH, will serve the EU region as well as the Middle East and Africa. It will also operate with a global ...
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Topcon and National Vision lead $8 m investment round in Toku Eyes
Toku Eyes, a New Zealand-based tech company specializing in AI-powered eye screening tools has announced the completion of a $8 million Series A investment round that will help it accelerate its technical and commercial development. The round was led by National Vision, a leading U.S. optical retail group with over ...
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Safilo reportedly in advanced talks to sell Longarone plant
Safilo management has told unions that it is in “advanced talks” to sell its factory in Longarone, according to Italian news reports, which note that Thélios is now widely considered to be the frontrunner to purchase the plant. According to the newspaper Corriere delle Alpi, Thélios could also take on ...
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DEG moves French team to Paris’s center
Danish-based Design Eyewear Group (DEG) is moving its French subsidiary’s headquarters to the fourth “arrondissement” of Paris. The new location will host the French teams for customer relations, European sales and marketing, and design. DEG owns three French eyewear brands (ALIUM, FACE A FACE and WOOW). Overall, the group employs ...
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ArticleItalia Independent pushes back approval of 2022 results amid debt restructuring deal
The Italia Independent Group (IIG) said it is postponing the board-of-directors meeting called to approve 2022 results until May 29 from March 28, after recently reaching a debt restructuring deal with creditors. The Italian eyewear group said the postponement of the board meeting is necessary because the auditor still has ...
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News briefsAmerican frame maker gets capital infusion
Blue Point Capital Partners is investing in Europa Eyewear. The American company manufactures frames for 11 proprietary trade and consumer brands, the most recent of which are STATE and American Optical. It says it operates the largest eyewear factory in the U.S. The company has remained in the hands of ...
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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 ...
