Latest Headlines – Page 5
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ArticleWarby Parker sees sales growth slowing after 14% jump in Q3
Warby Parker sees sales growth moderating to 8-10 percent in the fourth quarter of 2023 after revenues in the third quarter jumped by 14.2 percent compared to the year earlier to reach $169.8 million and comfortably beat management’s guidance of 9.5-11 percent growth. Dave Gilboa, co-CEO, told analysts in a ...
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ArticleMarcolin sees Q3 sales slip 10%, bolsters house brands with ic! berlin buy
Marcolin slipped into contraction territory in the third quarter, with sales in the period declining by 10.4 percent to €113 million as the group highlighted weakness in the Americas region and a “global context marked by complex socio-political and economic scenarios”. The sales decline came after a second quarter in ...
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ArticleMister Spex posts mixed Q3 results
Mister Spex has reported a significant drop in revenue growth pace for the third quarter of its fiscal year as continued depressed consumer sentiment and unfavorable weather conditions negatively impacted its business. The company however stressed that it was continuing to outperform the market and to deliver on its ...
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ArticleFielmann reports strong Q3, launches eye health services
Fielmann Group has announced a 12.2 percent year-on-year increase in external sales to €602 million including VAT for the third quarter of 2023, in line with the 13 percent growth reported earlier for the first half of the year. In volume, however, Q3 sales increased by a more modest 2.2 ...
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ArticleThélios acquires Barton Perreira
Thélios, the eyewear entity of LVMH, has announced the signature of an agreement to acquire Barton Perreira, the U.S.-based luxury eyewear brand. The acquisition follows only a few weeks after that of Vuarnet, the French high-end sports eyewear brand, underlining the expansion of Thélios’ business into proprietary brands and designer ...
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ArticleSmith rebound cushions Safilo’s Q3 revenue decline
The Safilo Group has reported a second consecutive quarter of topline decline as total Q3 revenue dropped by 9.8 percent year-on-year to €260.4 million, with sales declining both in North America and Europe that together account for over 80 percent of sales. Aside from strong currency headwinds, the company attributed ...
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ArticleiVision Tech CEO details group’s strategy
Still a relatively newcomer in the Italian and international eyewear sector, iVision Tech has gathered a lot of attention from the industry in recent months with the company’s debut on the Euronext Growth Milan stock exchange this summer and the acquisition of French high-end eyewear maker Henry Jullien just before ...
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ArticleHOYA lens growth driven by international markets and MiYOSMART in Q2
HOYA CORPORATION has reported a 2.5 percent year-on-year increase in Q2 group revenue to 188.7 billion Japanese yen (€1,182m) as the solid growth of its Life Care business unit and currency tailwinds offset another steep decline in the IT division’s quarterly sales. At constant rates, the Japanese group’s topline was ...
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ArticleIs Marcolin going to change hands?
According to insider information leaked to Bloomberg, PAI Partners, the majority shareholder of Marcolin Group, is looking to sell its stake in the company and has appointed Goldman Sachs to gauge the market’s interest in a deal that would value the eyewear manufacturer at approximately €1.35 billion. The French-based ...
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ArticleAkoni Group puts focus on craftsmanship-loving opticians and consumers
In the wake of the recent Silmo show in Paris, where the company was exhibiting its eyewear collections – house brand Akoni Eyewear and licensed fashion brands Balmain and Valentino – for the first time, we talked with Rosario Toscano, CEO of Akoni Group, about the DNA and the development ...
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Article10-year old Swiss Eyewear Group has passed the 20 million pairs’ mark
Swiss Eyewear Group, the eyewear company behind the INVU brand of polarized sunglasses, has announced that it has sold over 20 million pairs since the creation of the company ten years ago. As reported then in Eyewear Intelligence, the company was founded by a group of former senior managers of ...
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ArticleKering Eyewear fueled by Maui Jim in Q3 as comparable growth drops
Kering Eyewear was again the best-performing unit of Kering in the third quarter of this year, and the only one that posted a sales increase, as the French luxury group’s fashion brands were severely hit by the general slowdown in the global luxury market, particularly in Europe and North America. ...
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ArticleEssilux reports Q3 slowdown, opens new Thai mega plant
EssilorLuxottica has reported a 1.6 percent year-on-year decrease in Q3 revenue to €6,294 million as the relative weakness of its sun retail business spread beyond the North American market and Asia-Pacific provided a tougher comparison base in the period. In constant currencies, the group’s top line however increased by 5.2 ...
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ArticleFittingbox acquires main VTO challenger
Fittingbox, the global leader and a pioneer in eyewear virtual-try-on (VTO) services, has announced that it was acquiring its main challenger, Ditto Technologies, from U.S.-based Luna Solutions. It is the first acquisition by Fittingbox since the creation of the company in 2006. “We will have the largest customer portfolio in ...
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ArticleJINS ends fiscal year on high note
Japanese-based retail group JINS has reported a 16.0 percent year-on-year increase in Q4 revenue to 19.7 billion Japanese yen (€125m), accelerating from the previous quarter when sales rose by 10.4 percent versus Q3 2022. The Q4 sales hike was driven by an 11.0 percent growth in domestic revenue to JPY ...
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ArticleHakim Group doubled footprint in the last two years
The just-released financial results of Hakim Group show that the U.K. group of independent opticians has more than doubled its annual revenues and almost doubled its retail footprint between 2020 and 2022. The group has significantly accelerated the implementation of its strategy in the U.K. and Ireland since its refinancing ...
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ArticleMaterialise to 3D-print new translucent material
Right across from the Futurology space at this year’s Silmo was a booth for Materialise, the company that supplies frames for the Futurology companies Skugga and Lexilens, not to mention Morrow Eyewear, winner of one of this year’s Silmo d’Or awards. Founded 30-odd years ago, Materialise is headquartered in Leuven, ...
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ArticleEyewear companies' average stock price down in Q3
After two consecutive quarters of double-digit growth, the average stock price of eyewear companies went down by an average 7 percent on a non-weighted basis (see chart below) in the quarter ended Sept. 30. This also marks an unusual underperformance compared with the MSCI World Index, a global index comprising ...
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ArticleLeica brings ophthalmic lenses business in-house, opens factory
Leica Eyecare, a subsidiary of Leica Camera founded in 2021, has announced the opening of its new company headquarters and production facilities in the central Hesse region, near Frankfurt, Germany. The investment follows the decision of the German group, globally famous for its premium cameras, to bring the production of ...
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ArticleItalian eyewear exports maintain momentum in Q2
ANFAO, the Italian eyewear industry association, has reported a 15.7 percent year-on-year increase in Italian eyewear exports to €2,840 million for the first half of 2023 as sales in Q2 roughly maintained the 16.7 percent growth reported for Q1. As reflected in the table below, the momentum was driven by ...
