All EssilorLuxottica articles – Page 5
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ArticleLeonardo Del Vecchio passes away at 87
Leonardo Del Vecchio, the founder of Luxottica and chairman of French-Italian group EssilorLuxottica, has passed away at the San Raffaele Hospital in Milan. He had been hospitalized with non-Covid-19 pneumonia a few weeks ago, Adnkronos has reported. A father of six, he was 87 years old.EssilorLuxottica said in a statement ...
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Encouraging results for Sightglass Vision’s myopia glasses
Interim data from the first 24 months of a CYPRESS clinical trial suggest that glasses with SightGlass Vision’s Diffusion Optics Technology reduce both axial length and cycloplegic SER progression in six- and seven-year-old children. A paper on the trial – titled “Two Year Effectiveness of a Novel Myopia Management Spectacle ...
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New share buyback plan at EssilorLuxottica
EssilorLuxottica has announced the launch of a share buyback program for the purchase through a mandated investment services’ provider of up to 2,500,000 of its shares, or about 0.6 percent of all outstanding shares, between June 17 and August 2022. The right to launch such programs was authorized by the ...
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Biography of Leonardo Del Vecchio published in Italy
The Milanese publishing house Sperling & Kupfer, a division of the big Italian firm Mondadori, is publishing an unauthorized biography of Leonardo Del Vecchio, born in the 1930s, made ward of the state in 1942, and now chairman of industry giant EssilorLuxottica. Written by Tommaso Ebhardt, Blooomberg News’ Milan bureau ...
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EssilorLuxottica in talks for Ray-Ban stores in India
EssilorLuxottica has confirmed being in negotiations with Reliance Brands for a partnership to jointly open Ray-Ban stores in India, following a report by the Indian business publication The Economic Times. The Italo-French company added that exploring new retail opportunities under brands like Ray-Ban was part of its group strategy and ...
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Russian’s Happy Look switches to private label as imports stall
In the backdrop of mounting import disruptions, Russian eyewear retailers have started replacing imported brands with local products. Russia’s largest eyewear retailer Happy Look has reported that EssilorLuxottica officially notified the company about the suspension of shipments. Until last March, the Italo-French group supplied sunglasses and frames for corrective eyewear ...
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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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Essilux names VP for professional solutions, northern Europe
EssilorLuxottica has made Franco Ferrante vice president for Professional Solutions for Northern Europe (U.K., Ireland, Nordics and Benelux). Ferrante has been with Luxottica for 17 years, serving most recently as regional director for Northern Europe, France and Israel. The Professional Solutions unit of the group covers the wholesale business of ...
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Essilux sues JPMorgan for failure to report fraud in Thailand
EssilorLuxottica has filed suit against JPMorgan, alleging that the bank knew about and failed to warn of embezzlements of its funds amounting to some $270 million, or €190 million. About half of the funds have been frozen in banks – mostly in Hong Kong and Singapore but also in Malaysia, ...
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ArticleStrong Q1 for Essilux
Except for a slight deceleration in the U.S. market, all lights were green in the first quarter of the 2022 fiscal year for EssilorLuxottica with its two operating segments and all regions gaining momentum compared to the previous quarter. In reported terms, total revenue jumped by 38 percent year-on-year to ...
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Essilux completes sale of stores to Bene
EssilorLuxottica and its unit GrandVision have completed the sale of 142 EyeWish stores in the Netherlands and 35 GrandOptical stores in Belgium to the Optic Retail International Group Bene, a member of MPG Austria. The disposal follows the commitments made by EssilorLuxottica with the European Commission to buy GrandVision. The ...
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ArticleEssilux wraps up GrandVision buy-out, changes top management
EssilorLuxottica announced on April 14 the successful completion of its public offer for the GrandVision shares that it did not own yet and the buy-out of the retail group’s remaining shareholders. The Italo-French industry giant now holds 100 percent of GrandVision shares. The finalization of the takeover comes almost three ...
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ArticleEssilorLuxottica to acquire Fedon
Taking another step forward in its vertical integration, EssilorLuxottica has announced its intention to acquire 90.9 percent of the share capital of Giorgio Fedon & Figli, the Italian supplier of eyewear cases and leather goods. The new investment by the Italo-French group is reminiscent of the take-over of Barberini in ...
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ArticleEyewear industry stock prices down 13% in Q1
The first quarter of 2022 was the worst quarter for global equity markets since the first quarter of 2020 when the Covid-19 pandemic started spreading worldwide, leading to travel restrictions and lockdowns and prompting stock markets to collapse in March. Since the start of this year, the U.S. equity market ...
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GrandVision’s remaining Eye Wish stores switch to Pearle Studio banner
GrandVision will be switching all its remaining 118 Eye Wish stores in the Netherlands to the upscale Pearle Studio banner before the summer, according to Retail Trends and other Dutch trade publications. The first rebranded Pearle Studio location opened in the Gelderlandplain mall in Amsterdam a few days ago. According ...
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ArticleEssilux supports Ukraine’s 1,700 staff, restricts Russian operations
Reacting to the war in Ukraine, EssilorLuxottica, announced on its social media last week that the group’s immediate priority was the safety of its 1,700 collaborators in Ukraine and that it had taken steps to provide them with secured shelter, financial assistance and help crossing borders. According to the same ...
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Essilux and CooperVision finalize SightGlass Vision JV
A year after the initial announcement of their partnership, EssilorLuxottica and CooperVision have confirmed the finalization of their joint venture agreement for the development of SightGlass Vision, a new lens in the myopia management segment. During its last results’ presentation, CooperVision said that the two partners were still discussing the ...
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ArticleEssilux comparable revenue up 7.4 % in 2021 vs. 2019
EssilorLuxottica has reported revenues of €19,820 million for the full 2021 financial year, up 40 percent year-on-year and 20 percent versus the pre-Covid 2019 year. The topline figure includes revenues of the GrandVision business for the first time, and for a total of €2,062 million corresponding to six months of ...
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ArticleEMEA and APAC drove CooperVision Q1 growth
CooperCompanies has reported a 16 percent year-on-year revenue increase to $787.2 million for the first quarter of its 2022 financial year, with double-digit progress for both its CooperVision and CooperSurgical divisions. CooperVision Q1 sales rose by 11 percent in reported terms as compared to the same period in 2020, or ...
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Canadian retailer Clearly to expand at home
In an interview with Retail Insider, Arnaud Bussieres says that the Canadian eyewear retailer Clearly, of which he is CEO, will soon be opening 12 to 15 stores in its home market over the next two years. Owned by EssilorLuxottica, Clearly has been operating in Canada since 2013, when it ...
