All EssilorLuxottica articles – Page 9
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News briefs
Rationale of Essilux, GrandVision tie-up remains unchanged
The strategic logic behind EssilorLuxottica ’s proposed acquisition of GrandVision has not changed despite the litigation between the two companies, Leonardo Del Vecchio , Essilux executive chairman, told the Italian daily Il Messaggero . Del Vecchio is the founder of Luxottica and is the main shareholder of Essilux ...
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News briefs
Oakley factory to produce face shields
EssilorLuxottica’s frame unit Luxottica has converted part of Oakley ’s Foothill Ranch factory in Orange County, California, to supply face shields to meet growing demand for protective equipment against the Covid-19 virus. The 550,000 square foot facility produces Oakley eyewear and goggles and the face shields will ...
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ArticleEssilorLuxottica, Facebook plan to launch Ray-Ban smart glasses in 2021
EssilorLuxottica and Facebook plan to launch a pair of Ray-Ban branded smart glasses in 2021. The two companies have entered a multiyear collaboration to develop the next generation of smart glasses. The announcement was made by Mark Zuckerberg , the founder and chief executive of the ...
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ArticleLuxottica produces anti-Covid masks for Italian government
Luxottica , the Italian unit of the Franco-Italian eyewear company EssilorLuxottica , said that it has started the large scale production of face masks to help prevent the propagation of the Covid-19 pandemic. The company has already delivered a first batch of 3.5 million items as part of a government-sponsored ...
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ArticleEssilorLuxottica ready to pursue lawsuit against GrandVision after losing first round
Yesterday, a Dutch district court rejected EssilorLuxottica ’s request to obtain information from GrandVision to determine whether the Dutch retailer had breached the terms an agreement in view of its takeover by Essilux. The court said that the large volume of corporate information that Essilux is seeking to ...
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ArticleEssilux launches EssilorLuxottica 360 in the U.S. as group speeds up integration
Essilor and Luxottica , respectively the lens and frame subsidiaries of EssilorLuxottica , and Luxottica’s managed vision care unit EyeMed , created EssilorLuxottica 360, a new joint program that they claim will drive growth for independent eyecare professionals (ECPs) across the U.S. This is a concrete sign ...
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ArticleEssilorLuxottica has secured trade data held by GrandVision
EssilorLuxottica has secured information stored on servers managed by GrandVision in connection with legal proceedings involving the two companies. The Dutch eyewear retailer said that the measure was handled by an unamed independent third party. A backup of the information will be held by the third party ...
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ArticleEssilorLuxottica cautiously optimistic after Q2 sales halved
EssilorLuxottica is cautiously optimistic about the remainder of the year and expects its “transition on the way towards normalization” to continue in the third quarter after second-quarter revenues were nearly halved amid Covid-19 lockdowns. Yet given uncertainty on the evolution of the pandemic, with local lockdowns already re-imposed in ...
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ArticleGrandVision starts arbitration proceedings against EssilorLuxottica
GrandVision has initiated arbitration proceedings against EssilorLuxottica ’s claims that the Dutch retailer had breached its obligations under the co-called “Support Agreement” in managing its business during the Covid-19 pandemic. GrandVision reiterated that it strongly disagrees with EssilorLuxottica’s accusations. It added that it has initiated the arbitration to ...
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News briefsPrada appoints Christopher Bugg group communications director
Prada has appointed Christopher Bugg as communications director for the group and will report to Lorenzo Bertelli , the Italian fashion group’s head of marketing. Bugg joined the group in January 2020 as Prada’s marketing and communication director for Asia. Previously, he was the global digital communications ...
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ArticleEssilorLuxottica sues GrandVision over Covid-19 disclosure
EssilorLuxottica has initiated legal proceedings before a district court in Rotterdam to obtain information from GrandVision regarding the management of its business during the Covid-19 pandemic and the extent to which it has allegedly ”breached its obligations under the support agreement.” The Franco-Italian eyewear company, which ...
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ArticleThe EU extends deadline for Essilux-GrandVision probe to Aug. 20
Once again the the European Commission has pushed back the deadline for completion of its in-depth anti-trust investigation into EssilorLuxottica ’s planned €7.2 billion takeover of GrandVision, according to a filing on its website. The deadline was postponed by a week, or five working days, to Aug. ...
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ArticleEssilorLuxottica sees first signs of recovery
EssilorLuxottica is seeing the “first signs of recovery” as lockdowns introduced worldwide to slow down the spread of the Covid-19 pandemic are lifted. In a prepared message delivered to shareholders at the company’s annual general meeting, the executive chairman Leonardo Del Vecchio and executive vice-chairman Hubert Sagnières ...
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ArticleGrandVision sales in reopened stores drop by 13% early June
GrandVision is enjoying a recovery in sales as its stores reopen, but the company has noted that consumers are continuing with e-commerce purchases, especially for contact lenses.
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News briefs
Del Vecchio plans to double stake in key Italian bank
Delfin , the Luxembourg-based holding company of Leonardo Del Vecchio , the founder of Luxottica , has filed with the Bank of Italy a request to increase its stake in the influential investment bank Mediobanca above 10 percent, with the objective of reaching 20 percent. Delfin ...
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News briefs
Jimmy Choo, Versace return to last’s year sales levels in China
In April and May , Jimmy Choo and Versace returned to last year’s sales levels in Mainland China, as volumes gradually built up from the end of the coronavirus-related lockdown, while the Michael Kors brand was at 80 percent of last-year’s sales for the period. The three ...
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ArticleEssilorLuxottica’s bonds generate huge demand
EssilorLuxottica experienced huge demand for its bonds from institutional investors, enabling it to increase the size of the placement and lower the annual interest rates it will pay. The company enjoys a strong balance sheet and has an ‘A’ credit rating from S P and an ‘A2’ rating from ...
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Article
EssilorLuxottica starts to cope with Covid-19
On March 27, EssilorLuxottica said it had stopped a share buyback program that it had announced only 10 days earlier, due to the growing uncertainty being created by the rapidly expanding Covid-19 pandemic. It’s one of the measures that the group is implementing to improve its liquidity in view of ...
