Latest Headlines – Page 18
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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 ...
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ArticleFielmann’s Q2 sales rise 8%, profits squeezed
The Fielmann Group reported external sales of €505 million in the second quarter of 2022, an eight percent increase compared to the year earlier, despite a drag on its top line performance from the prolonged Covid-19 pandemic and as consumer confidence increasingly takes a hit from high inflation and rising ...
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ArticleItalian eyewear exports shot up in Q1, ANFAO to launch own sustainable label
Exports of Italian eyewear accelerated sharply in the first quarter of 2022, jumping by 35.3 percent year-on-year to a total value of €1.190 million, according to the most recent data from ANFAO, the Italian Eyewear Industry Association. Compared with the pre-COVID 2019 year, they were up by 32.3 percent. The ...
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ArticleTransatlantic retail alliance inks deals with Hoya and Rodenstock
KRYS GROUP, the French optical retail leader, has joined forces with Canadian-based Newlook Vision Group and General Optica, the Iberian retail subsidiary of De Rigo, to create a new purchasing alliance. Called Global Optical Alliance (GOAL), the organization has just announced the signature of partnerships with Hoya Vision Care and ...
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ArticleLenskart accelerates in Asia with Owndays’ takeover
Lenskart, the fast-growing Indian retail group, has announced the acquisition of a majority share in Owndays, a Japanese-based DTC eyewear brand with 460 stores and e-commerce operations in 13 Asian countries, Australia and the United Arab Emirates. Lenskart acquired the shares in Owndays from L Catterton, an investment company affiliated ...
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ArticleFast-growing Inspecs boosts manufacturing base
The Inspecs group has reported a four-fold increase in annual revenues to $246.5 million for 2021 from $47.4 million in 2020, as the topline was boosted by its multiple acquisitions in the last year and a half. In particular, the business of Eschenbach, which was taken over in December 2020, ...
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ArticleAfflelou Q3 growth driven by COVID recovery, DOS and hearing aids
The Afflelou group has reported a strong increase in network sales for the third quarter of its current fiscal year, thanks mostly to a strong performance in the French-based retailer’s domestic market while the activity in Spain was more subdued (see chart). Afflelou Group- Q3 Network Sales - ...
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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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ArticleParis Miki to invest €50m in 3-year turnaround plan
Paris Miki revenues inched up to 44.1 billion Japanese yen (€308m) in its fiscal year ended in March 2022, a 0.5 percent increase compared to the previous year. It is only the second time in the last decade that the retailer saw its sales go up year-on-year as the group’s ...
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ArticleEschenbach launches online Academy to grow low vision segment
Eschenback Optik, a market leader in the low vision segment, is about to launch the Eschenbach Academy, a multilingual online training and information platform for eye care professionals (ECPs), but also for end consumers. In the words of Matthias Anke, managing director of the Optics division at Eschenbach, the move ...
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ArticleItalia Independent plans cash call, restructuring after losses widen in 2021
The Italia Independent Group announced plans to seek fresh capital from shareholders and carry out a restructuring after losses in 2021 jumped to €24.0 million from €2.8 million the year earlier. Losses for the year came after €18.1 million in writedowns and provisions compared to €2.0 million in 2020. Italia ...
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ArticleArts Optical up 55% in 2021, back in the black
Hong Kong-based eyewear manufacturer Arts Optical has reported a 55 percent year-on-year increase in annual revenues to 1,1152 million Hong Kong dollars (€140 m) in 2021, mainly driven by the rebound in global demand for eyewear products following the easing of COVID-19 restrictions. The company topped its 2019 sales total ...
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ArticleHigher demand for high-index lenses drives Mitsui vision care unit
Mitsui Chemicals has reported a 14.4 percent year-on-year increase in revenue to 165 billion Japanese yen (€1.2 bn) last year for its Health Care business unit, which includes lens materials and coatings but also nonwoven products and dental materials. The division accounted for roughly ten percent of total revenues. The ...
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ArticleKering Eyewear sets €2bn annual revenue target
As part of its capital markets day last week, French luxury group Kering presented an update on the business of Kering Eyewear, announcing a midterm revenue target of €2 billion per year, compared to €706 million in 2021, and an EBIT margin of over 15 percent. The group also shared ...
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ArticleLenskart starts a $100 m fund for DTC eyewear brands
Lenskart, the Indian omnichannel retailer and eyewear manufacturer, has created a $100 million fund dedicated to investments in direct-to-consumer (DTC) eyewear brands as the company believes that the market is now “ripe for a tech-enabled global transformation”. Drawing a comparison with other sectors that have been deeply transformed by e-commerce ...
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ArticleBausch + Lomb sees earnings squeezed in Q1, confirms FY sales guidance
Bausch + Lomb reported an adjusted Ebitda of $170 million in the first quarter of 2022, down from $198 million the year earlier, as growth in organic revenues was more than offset by foreign currency headwinds and the negative impact from new Covid-19 lockdowns in China. For the full year, ...
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Sales and profits’ rebound at Topcon eye care unit
Topcon has reported record-high revenues and profits for 2021 at group level, reaching total sales of 176.4 billion Japanese yen (€1.2 bn), up 28.5 percent year-on-year, and more than doubling its operating income to ¥15.9 billion (€110.5 m). Net sales in the eye care business unit grew at roughly the ...
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ArticleTopology rolls out its technology outside North America
At the last edition of the Mido show in Milan, Safilo and Topology, a Californian-based tech company, presented their jointly developed digital platform which was launched in the U.S. and Canada at the end of last year by the American subsidiary of the Italian group. Based on Topology’s technology, the ...
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ArticleCooperVision up 11% in Q2, to exit CL solutions’ segment
CooperCompanies has reported a 6 percent year-on-year revenue increase to $553.8 million for its CooperVision unit in the second quarter of the 2022 fiscal year. On a constant exchange rate and on an organic basis, sales were up by 11 percent and 12 percent, respectively, compared to 2021, decelerating slightly ...
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ArticleLuna launches refraction exam app
Luna, the eyewear tech company created by 1-800 Contacts earlier this year, held an online presentation of its new MyRx Refraction Exam app at the end of last month. The exam and relevant smartphone application were developed by the teams of Israeli-based 6over6, one of the businesses integrated in Luna, ...
