All EssilorLuxottica articles – Page 4
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News briefsEssilux pledges $11m for education
EssilorLuxottica is pledging $11 million over the next two years towards the study of optometry. One program will disburse $3 million to repay the student loans of recent graduates in optometry who secure employment with one of the company’s retail brands: LensCrafters, Target Optical or Pearle Vision. Another will disburse ...
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ArticleEyewear companies climb in Deloitte luxury players’ ranking
Along with Thélios and Kering Eyewear, the eyewear subsidiaries of LVMH and Kering, three Italian-based eyewear manufacturers have been listed in the 2022 edition Deloitte’s “Global Powers of Luxury Goods”, an annual report ranking the 100 largest luxury companies in the world. Companies were ranked according to their consolidated sales ...
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News briefs
EssilorLuxottica adds new Italian luxury fashion brand license to portfolio
EssilorLuxottica has announced the signature of an exclusive 10-year license agreement for the design, manufacture and distribution of eyewear, optical frames and sunglasses, under the Brunello Cucinelli brand. The new license will take effect on Jan, 1 2023 and the first collection will be marketed in the first quarter of ...
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ArticleQ3 sales and profits’ decline in Germany weigh on Fielmann results
One week after the announcement of mixed preliminary results for the third quarter and the first nine months of 2022, the Fielmann group has just released more details, in particular for the geographic breakdown of its sales and income. In this article, we only focus on newly published data. As ...
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ArticleEssilor and EssilorLuxottica fined €81 m by French market watchdog, will appeal
L’Autorité de la Concurrence (AC), the French competition authority, has announced yesterday that it was handing a total of €81 million in fines to Essilor International and its parent company EssilorLuxottica for discriminatory practices between April 2009 and December 2020 in France. The Italo-French group immediately replied that it would ...
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ArticleEssilorLuxottica revenue up 8.2 % in Q3
EssilorLuxottica reported revenue of €6,394 million in Q2 2022, up by 17.0 percent from the same period last year. On a comparable basis, both in terms of business scope and currency, the topline was up by 8.2 percent marking a slight acceleration from the 7.0 percent growth posted in Q2. ...
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News briefs
EssilorLuxottica and Myopia Profile launch podcast series
EssilorLuxottica and Myopia Profile have announced a new chapter in their partnership with the launch of a podcast series which will be available exclusively on Leonardo, the Italo-French group’s learning platform. The podcasts will focus on providing simple steps and practical advice on myopia management to eye care practitioners (ECP) ...
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News briefsEssilorLuxottica makes Fortune's "Change the World" top 10
EssilorLuxottica ranks sixth in Fortune’s “Change the World” list for 2022. The annual ranking by the international media group recognizes the positive social impact of companies through activities that are part of their core business strategy. Listed companies, which have to apply to take part, are evaluated mainly on their ...
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ArticleStrong stock price variations for eyewear companies in Q3
On a non-weighted average basis, stock prices of publicly listed companies in the eyewear sector went down by 1.3 percent in the quarter to September 30 in an apparent relative recovery from the 17 percent dive reported for the previous quarter. It compares slightly unfavorably with the global MSCI index, ...
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News briefs
EssilorLuxottica launches 3rd share buyback plan in 2022
EssilorLuxottica has announced the launch of a new share buyback program, the third since the start of this year. The group has granted a mandate to an investment service provider for the purchase of up to 1,500,000 of its own shares, or 0.3 percent of total outstanding shares, by March ...
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News briefs
EssilorLuxottica and Armani renew license deal
EssilorLuxottica and the Armani Group have announced the renewal of their license agreement for the design, production and global distribution of eyewear under the Giorgio Armani, Giorgio Armani Privé, Emporio Armani, EA7 Emporio Armani and A|X Armani Exchange brands. The current agreement took effect on Jan. 1, 2013 and will ...
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ArticleNew myopia control trial results announced at IMC
EssilorLuxottica released an update on its clinical trial for its myopia management lens Essilor Stellest at the International Myopia Conference that took place in Rotterdam a few days ago. The three-year clinical trial, which was conducted together with the Wenzhou Medical University with over 200 children aged 8 to 13, ...
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ArticleCVI up 11% organically, sees myopia management segment breaking even
CooperCompanies has reported a 2 percent year-on-year increase to $566.3 million in sales for its CooperVision unit in Q3, slowed down by strong currency headwinds. The division’s revenue grew by 10 percent at constant exchange rates and by 11 percent on an organic basis compared to the same quarter last ...
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News briefs
EssilorLuxottica takes full control of Shamir
Shamir Optical has informed its customers in a letter that EssilorLuxottica acquired the remaining 50 percent stake in the company on Aug. 1, owning it in full. The Italo-French group, which had initially purchased 50 percent of Shamir’s shares in 2011, said the new transaction was the logical next step ...
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News briefs
Del Vecchio donates 2.15 million EssilorLuxottica shares to Milleri
Italian news agency ANSA has reported that Leonardo Del Vecchio has left 2.15 million EssilorLuxottica shares, or 0.5 percent of the company’s capital, to his successor Francesco Milleri. At the group’s current stock price, the donation is worth about €340 million. The news was confirmed by an EssilorLuxottica spokesman, Bloomberg ...
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ArticleEssilorLuxottica profits up in H1 but sales decelerated in Q2
EssilorLuxottica has reported a 36 percent year-on-year increase in revenues to €6,387 million for the second quarter of 2022, with most of the growth attributable to the integration of the GrandVision business. On the comparable proforma basis prepared by the group, which adjusts 2021 figures as if GrandVision had been ...
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ArticleEssilux partners with Polimi on €50 m smart eyewear R&D center
EssilorLuxottica and Politecnico di Milano, or Polimi as it is often called, have announced the launch of a joint R&D partnership focusing on the development of smart glasses and related technologies. Dubbed Smart Eyewear Lab and located in Milan, Italy, the project will initially last five years and will eventually ...
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ArticleZEISS invests in liquid crystal tech eyewear start-up
ZEISS Ventures, an entity of the ZEISS Group, has announced that it was the main investor in a new financing round of over €10 million in Morrow Eyewear, a Belgian-based start-up company specializing in autofocal glasses. Other investors included New Science Ventures as well as current shareholders such as imec.xpand, ...
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ArticleApollo Optik celebrates 50 years
On the occasion of its 50th anniversary, Germany’s Apollo Optik (which, together with its parent company GrandVision, has been part of the EssilorLuxottica Group since 2021) has published some figures from various business areas. On average, each Apollo store carries more than 1,700 products (eyewear as well as lens care ...
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ArticleEyewear companies stocks down by 17% in Q2
Contrary to other sectors such as energy, aerospace, defense or agriculture, which saw their stock value increase significantly in the last few months, the eyewear industry was not among the beneficiaries from the move of global money away from investments in Big Tech companies. Indeed, the 23 eyewear public companies ...
