Latest Headlines – Page 2
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Paris Miki reports Q3 slowdown despite booming sunglass segment
Paris Miki has announced a 2.6 percent year-on-year increase in Q3 revenue to 12,689 million Japanese yen (€78 m), slowing down from the 8.7 percent growth reported for the previous quarter. The Japanese-based retailer’s quarterly revenue uptick was driven by its domestic market where sales rose by 2.8 percent to ...
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EssilorLuxottica accelerates in Q4 to wrap another record year
After a relative slowdown in the previous quarter, EssilorLuxottica has reported a return to high-single-digit revenue growth for the last quarter of 2023, leading the group to report another record year in terms of revenue, as its topline reached €25,393 million in 2023, up by 3.7 percent in reported terms ...
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Backed by new financial partner, Opal-Demetz plans more M&A
We have learned at the recent Mido show in Milan that Opal-Demetz, the French company specializing in children’s eyewear, sports eyewear and low-cost frames known as in France a “deuxième paire” (a second pair of eyeglasses, sold at a nominal fee to customers), opened its capital to private equity at ...
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Rodenstock upgrades portfolio, fine-tunes group strategy and synergies
After its participation at the opti show in Munich in January, Rodenstock presented its latest innovations at its booth during the Mido show in Milan, from Feb. 3 to 5. The German-based lens maker introduced this year its new LayR coating, which it describes as an extension of its biometric ...
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Modo begins turnaround of Italia Independent with presentation of spring/summer collection
Modo Group, owner of the Eco and Modo brands, is moving quickly to turn around its latest addition, the Italia Independent brand it acquired only on Sept. 12. Lapo Elkann, the former owner and co-founder of Italia Independent, has agreed to stay on as creative director, and the first collection ...
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EssilorLuxottica acquires Japanese retail chain
EssilorLuxottica is about to deploy its full-scale vertical-integration business model in Japan. We have learned that the Italo-French group has acquired the business of Washin Optical, a Japanese mid-size optical retailer founded in 1951, through its Luxottica Japan subsidiary. The information has not been officially announced by the group yet, ...
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Kering Eyewear sales surge 35 percent in 2023
Kering Eyewear continues to outperform the other subsidiaries of French luxury goods group Kering, with annual revenues in 2023 jumping by 35 percent to €1,502 million. It was the only unit to post topline growth last year. Currency and scope effects boosted full-year revenues by 25 percent, as ...
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MIDO drew 40,000 visitors
The 1,200 exhibitors at this year’s MIDO show, held on Feb. 3–5, took up seven pavilions at Fiera Milano Rho and drew some 40,000 visitors – 11 percent more than last year – from about 160 countries, according to the organizers. Also attending were some 400 journalists, who have published ...
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Italy’s ANFAO, Certottica launch sustainable eyewear certification
The Italian eyewear industry association ANFAO and Certottica, the optical-product certification body in which ANFAO is a shareholder, have launched the first international sustainable eyewear-certification program, to respond to growing demand for sustainable products and to underscore the progress already made by some industry players. The new Certified Sustainable Eyewear ...
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De Rigo wholesale and retail up double digits in 2023
De Rigo Group has announced solid revenue growth for both its wholesale and its retail operations in 2023, as the company’s consolidated sales reached €506 million, up by 11.8 percent year-on-year on a reported basis. This is the first time that the topline has exceeded €500 million since 2008, when ...
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Zeiss acquires IP from Mitsui Chemicals
Zeiss Vision Care has acquired a “comprehensive intellectual property (IP) portfolio, including a suite of patents,” from Mitsui Chemicals (MCI), a Japanese company with wide-ranging business lines, among them “vision care materials,” and an R&D department split between synthesis, polymer science and tech for manufacturing processes. Zeiss has not disclosed ...
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Sustained eye care sales growth and IT unit rebound for HOYA in Q3
HOYA CORPORATION has reported another quarter of solid growth in its Life Care business unit, as total revenue went up by 12 percent year-on-year to 133.5 billion Japanese yen (€842m) in reported terms for the quarter ended Dec. 31, 2023. At constant exchange rates, Life Care increased by 6 percent ...
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Italian eyewear industry cautious on 2024 prospects after exports flatline in H2
The Italian eyewear industry association ANFAO said it remains cautious on sector prospects this year as it released preliminary figures for 2023 showing that Italian eyewear exports grew by 7.6 percent to €5,256 million. The total value of Italian eyewear production rose by 8.4 percent in 2023 to €5,515 million, ...
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Inspecs posts mixed results for 2023, resumes acquisitions strategy
Releasing a trading update for 2023, UK-based Inspecs Group has reported margin improvements on flattish year-on-year sales for last year (£200.3m, €234.9m). On a constant-currency basis, the group’s topline declined by 1.6 percent versus 2022, which the company attributed to softer trading in December. This apparently more than offset the ...
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The Vision Council publishes new US optical-market and consumer data
Announcing the release of its Market inSights 2023, the Vision Council has estimated the total value of the US optical market for last year at $65.6 billion. The organization explains that it changed it has changed research methodology again this year, adding advanced analytics, updating its sources to include consumer ...
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Johnson & Johnson Q4 contact lens sales rise 7.9%
Johnson & Johnson’s global sales of contact lenses in the fourth quarter ended Dec. 31 grew by a reported 6.1 percent to $882 million. Sales at constant currency rates increased by 7.9 percent, with growth driven by price actions and the continued strong performance of the Acuvue Oasys 1-Day family ...
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Fielmann remains committed to Italian market after closures announcement
After reports in the Italian press at the end of last year that Fielmann was preparing to shut down 11 of its 54 stores in the country, the German-based retail group confirmed some closures but remains intent on developing its network in the country. “Fielmann reaffirms commitment to the Italian ...
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Store network upgrade, digitization and HR key to Paris Miki rebound
Like all well-established Japan retailers across all sectors, Paris Miki is facing an apparently unsolvable equation: finding sustainable growth in a country where the population is forecast to decline by approximately five percent every ten years. While many of these companies are heavily investing to develop their business abroad, particularly ...
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Morrow Eyewear kicks off European expansion with Novacel partnership
Morrow Eyewear, the Belgian-based company specializing in autofocal glasses, has announced the signature of a partnership with Novacel Optical for the distribution of its eProgressive Glasses in France and Switzerland. The company said that the agreement would enable over 30 million presbyopes in the two countries with its pioneering technology. ...