Latest Headlines – Page 10
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ArticleH2 slowdown weigh on INSPECS results for 2022
INSPECS has reported $248.5 million in revenue for 2022 – up by less than 1 percent year-on-year – and reduced profitability, as challenging market conditions, currency headwinds and difficulties at its Norville unit weighed on the U.K.-based group’s business, particularly in the second half of the year. Total sales, however, ...
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ArticleFielmann draws path to 2025 revenue and profit targets
Along with the publication of positive Q1 results (see our other article), Marc Fielmann, CEO of the Fielmann Group, presented yesterday during a press conference the key figures for the retailer’s business in 2022, its outlook for 2023 and an update on its Vision 2025 strategic plan. As already reported ...
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ArticleGerman market inched up in 2022 despite lower eyeglass purchases
The Zentralverband der Augenoptiker und Optometristen (ZVA), the German association of opticians and optometrists, has released its annual report on the German market for last year. The release was accompanied by a general sense of relief as, after it was feared that the market would fall into recession in the ...
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ArticleFielmann sees 15% topline growth, improved profitability in Q1
The Fielmann Group has reported a solid rebound in revenue for the first quarter of 2023 as sales increased at double-digit rates across all market. The results were presented at a press conference yesterday where Marc Fielmann, CEO, and Alexander Zeiss, CFO, also gave an update on the retailer’s Vision ...
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ArticleItaly issues €50 contribution for purchase of eyeglasses, contact lenses
Italy is issuing a €50 voucher or reimbursement for the purchase of prescription eyewear and contact lenses for low-income people who request the contribution on a new digital platform. Individuals can ask for the “Bonus Vista” starting May 5, while eyewear sellers have been able to register stores participating in ...
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ArticleMaui Jim integration adds to Kering Eyewear 11% comparable growth for a strong Q1
As expected following the integration of the Maui Jim business into the company’s results since October last year, Kering Eyewear revenue jumped by 44 percent year-on-year in the first quarter of 2023 to €433 million. On a comparable scope basis, the eyewear unit of the French luxury group posted a ...
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ArticleVuzix opens European HQ, banks on OEM platform for consumer smart eyewear
U.S.-based smart eyewear manufacturer Vuzix has announced the opening of a new office in Munich, Germany, to expand its business in Europe. The new office, established at Vuzix Europe GmbH, will serve the EU region as well as the Middle East and Africa. It will also operate with a global ...
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ArticleEssilux picks up speed in Q1, progresses on GV integration
After the group reported a relative deceleration in topline growth for the last quarter of 2022 two months ago, EssilorLuxottica has announced a sharp uptick in sales for Q1 2023 with group revenue increasing by 9.7 percent year-on-year to €6,151 million. At constant exchange rates, sales were up by 8.6 ...
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ArticleVisottica moves forward with external growth strategy with Ideal acquisition
Visottica Group, the supplier of eyewear components based in Italy’s Veneto region, is continuing with a strategy of growth through acquisitions, with the announcement of the purchase of a 100 percent stake in Ideal, a company active in the engineering and manufacturing of small metal eyewear parts. Founded in 1983, ...
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ArticleFrance sees five-year rise in annual healthcare expenses
Five years after its last one, Cofidis has released the results of its latest survey of the French citizenry on healthcare expenses, conducted with the aid of CSA Research. The signal finding is that the average annual expense has risen by almost 75 percent, from €715 to €1,249. The increase, ...
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ArticleItalia Independent pushes back approval of 2022 results amid debt restructuring deal
The Italia Independent Group (IIG) said it is postponing the board-of-directors meeting called to approve 2022 results until May 29 from March 28, after recently reaching a debt restructuring deal with creditors. The Italian eyewear group said the postponement of the board meeting is necessary because the auditor still has ...
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ArticleArts Optical reports flat sales but higher profit ratios
Hong-Kong based eyewear manufacturer Arts Optical has reported flattish revenues, with total sales down by 0.7 percent year-on-year to 1,144 million Hong Kong dollars (€133 m) as progress in the distribution and lens units almost entirely offset declining sales from the key OEM division (see chart). Arts Optical ...
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ArticleAlcon jockeys for market share in reusables, sees mid-single digit percentage contact lens growth
Alcon is seeking to gain market share in the reusable contact lens segment, while also continuing to capitalize on the overall market trend of consumers moving towards daily lenses and away from reusables, management indicated in the company’s capital markets day with analysts. Alcon management noted that its market share ...
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ArticleEyewear stocks start 2023 on the right foot
Stock prices of eyewear companies were off to a good start of the year, with an average growth of 13 percent on a non-weighted basis in Q1 2023 compared with Q4 2022. It is the first time in more than a year that their average value significantly increased, overperforming the ...
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ArticleMarcolin posts 13% topline growth and stable margins for 2022
Ahead of its shareholders’ meeting in April, the Marcolin group has released positive preliminary results for 2022 that confirmed the Italian group’s topline growth and stable profit ratios despite challenging market conditions. Total revenue went up by 20.1 percent year-on-year to €547 million in reported terms, translating into a 13.2 ...
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ArticleHow dirty is greenwashing? A legal perspective
This article will briefly explain the current legal perspective of environmental claims used by corporates to market their products or services, in particular on a business-to-consumer level.
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ArticleMister Spex counts on upmarket move and cost control to return to profits after mixed 2022
Announcing mixed full year results for 2022 earlier this week, including a relatively weak Q4 performance, Mister Spex stressed that it still gained market share last year in Germany, its core market. The company also underlined improvements in its product mix, with more lenses and high added-value frames, and the ...
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ArticleChange of leadership at opti
Gesellschaft für Handwerkmessen (GmbH), the organizer of opti, has announced the appointment of Cathleen Kabashi as the new director for its Munich-based optical trade show. Kabashi joined GHM in 2007 and worked as trade fair advisor and later director of iba, which the group describes as the world’s leading trade ...
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ArticleAfflelou driven by historical banner optical sales in Q2
The Afflelou Group has reported a 4.2 percent year-on-year increase in Q2 network sales to €224.9 million (see table), with a relative underperformance in its domestic market compared with international markets, due to declining hearing aids’ sales and a reduced retail footprint related to the phasing out of the Optical ...
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ArticleA look at MIDO CSE Awards’ RoW winners
During the last edition of the Mido trade show last month, organizers premiered their Certified Sustainable Eyewear Awards (CSE) which were divided in two categories: Europe and the Rest of the World (RoW). As awards winners from Europe are better known to our readers – Neubau Eyewear, Marchon, Modo Eyewear ...
