All EssilorLuxottica articles – Page 8
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ArticleGV reports improved margins on slightly lower sales in Q1
GrandVision reported slightly declining Q1 revenues for 2021 as compared to 2020, as its business was still significantly impacted by the consequences of the Covid-19 pandemic, particularly in Europe. However, the retail group almost doubled its EBITDA over the same period thanks to an overall improved product mix, continued ...
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Article
ECOO, ZVA criticize EU decision in Essilux-GV case
The European Council of Optometry and Optics ( ECOO ), the Brussels-based umbrella association, and the Zentralverband der Augenoptiker und Optometristen ( ZVA ), the German association of opticians and optometrists, both released official statements at the end of last month criticizing the terms of the European Commission ...
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News briefs
Chile conditionally approves Essilux-GV transaction
GrandVision announced yesterday that Fiscalía Nacional Económica , the market regulator for Chile, just approved the transaction agreed with EssilorLuxottica in July 2019, following the steps of Brazil, Colombia, Mexico, the U.S., and most recently the European Union. This decision leaves Turkey as the only country where the ...
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News briefs
Dutch Appeal Court rules in favor of GrandVision in Essilux case
The Amsterdam Court of Appeal ruled yesterday in favor of GrandVision in the lawsuit opposing the retail group to EssilorLuxottica , confirming the earlier judgement by the District Court in August last year. The Franco-Italian group claimed that GrandVision had been retaining information in relation to the management ...
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Article
Vision Group interested in Essilux and GV Italian stores
Vision Group , one of the leading Italian retail players, said that it was interested in studying the takeover of the 174 Italian stores to be divested if EssilorLuxottica and GrandVision eventually agree on the planned takeover. The divestment, which is a prerequisite for the European Commission to ...
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ArticleEyewear industry stock prices up 10% in Q1
Following the publication for the first time of our industry stock market capitalization at the start of the year, we are providing here a quarterly update for the evolution of the stock price of 19 stock listed companies operating in our core market, showing its evolution between Jan. 1 and ...
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News briefs
Essilux acquires Walman in the U.S.
After having put business acquisitions on hold last year as cost control became a priority in a Covid-19 market environment, EssilorLuxottica is back on the external growth track with the acquisition of Walman in the U.S., which was announced yesterday. Created in 1915 and based in Minneapolis, Walman ...
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ArticleEU green light for Essilux-GrandVision merger
Putting a final point to an investigation started in December 2019, the European Union (EU) announced yesterday evening its conditional clearance for the acquisition of GrandVision by EssilorLuxottica . The green light is conditioned to the divestment, proposed by EssilorLuxottica, of a total of 351 stores in Belgium, ...
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Article
Essilux proposes a new slate of board directors
EssilorLuxottica ’s board has released a new slate of candidates for the board of directors that will be proposed to shareholders at the forthcoming annual general meeting (AGM). The company’s representatives are Leonardo Del Vecchio , Francesco Milleri , Paul du Saillant , Romolo Bardin , and Juliette Favre ...
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ArticleGrandVision revises down slightly its Q4 results
In the fourth quarter, GrandVision posted revenues of €981 million, down by 1.8 percent at actual currency rates and up by 1.0 percent at constant currency rates. Comparable sales growth was 0.7 percent. In its preliminary results, released on Jan. 22, the Dutch optical retailer had estimated comparable ...
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ArticleEU to decide on Essilux's takeover of GrandVision on April 12
The European Commission has set April 12, 2021 as the latest deadline for the end of an in-depth investigation into EssilorLuxottica’ s proposed €7.2 billion takeover of GrandVision . The deadline has been postponed several times. The proposed deal, referred to as case M.9569, was notified to ...
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News briefs
Giorgio Armani to include sustainable eyewear
The Italian fashion company Giorgio Armani will include ecologically sustainable eyewear models for its brands Giorgio Armani, Emporio Armani and A|X Armani Exchange . During 2021, about 20 new sunglasses and prescription frames, for men and women, will be introduced using recycled and recyclable materials. The ...
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News briefs
44% of EssilorLuxottica’s employees are shareholders
EssilorLuxottica announced that a record 44 percent of its employees are shareholders at the end of its 2020 international employee share ownership campaign called Boost 2020. The subscription rate reached over 62 percent of eligible employees. Following the campaign, about 63,000 EssilorLuxottica employees in 81 countries hold a ...
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ArticleEssilux to buy 50% of SightGlass Vision from CooperCompanies
EssilorLuxottica will buy a 50 percent stake of SightGlass Vision , which focuses on developing lenses to reduce the progression of myopia in children, from CooperCompanies, the parent company of CooperVision. CooperCompanies held a minority ownership interest in SightGlass Vision and bought the company in January. Under ...
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ArticleGrandVision maintains positive comparable sales growth in Q4
GrandVision enjoyed an 0.8 percent year-over-year increase in comparable revenues in the fourth quarter, in line with the performance posted in the previous three months, thanks to its core European markets. But on a reported basis, the top line declined by 1.7 percent as the group suffered from the ...
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ArticleEssilor, Luxottica launch their first joint product
Essilor and Luxottica have launched their first joint product with the latest edition of Ray-Ban Authentic . It will be launched in the U.S. on Jan. 19. According to EssilorLuxottica , the group resulting from the merger between the French ophthalmic lens producer and the Italian frame ...
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ArticleEyewear industry stocks grew by 6% in 2020
We are publishing here for the first time our ranking of the main stock-listed eyewear industry companies, based on their stock market capitalization in euros at the end of 2020. The corresponding table also shows the change in market value from the previous year, both in local currency and euros. ...
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News briefsEssilorLuxottica reportedly reconsidering GrandVision deal
EssilorLuxottica is reconsidering the agreed acquisition for €7.2 billion of the optical retailer GrandVision , according to the news agency Bloomberg , which cited people with knowledge of the matter. Essilux still sees the rationale of the deal but is increasingly worried about the impact of the Covid-19 ...
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News briefs
EssilorLuxottica highest ranking optical firm for diversity in Europe
EssilorLuxottica ranked highest among optical firms in the Financial Times ’s second annual Diversity Leaders classification. The survey conducted by Statista involved 850 European companies and assessed employees’ perception of companies’ inclusiveness or efforts to promote various aspects of diversity. These include gender balance, openness to all forms ...
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ArticleEssilorLuxottica sees sharp improvement in Q3
EssilorLuxottica bounced back in the third quarter after second-quarter revenues were nearly halved amid Covid-19 lockdowns. Sales in the three months to Sept. 30 were down by 5.2 percent from the year-ago quarter to €4,085 million, or by 1.1 percent at constant exchange rates. The company did not release ...
