Latest Headlines
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ArticleEyewa secures $100m cash injection, plans to open 100 new stores in the Middle East next year
Competition in the Middle Eastern optical retail market is going to intensify further as eyewa, the fast-growing direct-to-consumer brand, just announced that it has raised $100 million in a new financing round to accelerate its store network expansion. The round was led by General Atlantic, a global investor with approximately ...
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ArticleVolume and price effects propel the French optical market over the €8 billion mark, report says
According to the latest report by the French national research and statistics office (DREES) on healthcare expenses in the country, the French optical market value jumped by 8.0 percent in 2023, topping €8 billion for the first time. It has grown by almost 30 percent since 2023. Optical expenses accounted ...
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ArticleMIDO announces upgrades and changes for its 2025 edition
Announced changes pertain to the show layout, its digital tools and conference program.
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ArticleAlain Afflelou posts revenue and margin upticks for FY2024 but debt swells further
The Alain Afflelou group has reported a 5.1 percent year-on-year increase in network sales and profitability improvements in fiscal 2024. However, the group’s net debt increased further.
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ArticleiVision Tech parent company’s eyewear business sales jump 28% in Q3
Italian eyewear supplier iVision Tech said its parent company posted revenues of €7.6 million in the first nine months of 2024, up by 27.6 percent compared to the year earlier on a like-for-like basis that considers solely its eyewear business. On a reported basis, revenues were up by 4.3 percent ...
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ArticleSolid but slower revenue growth and pressured margins for Synsam in Q3
The leading optical retailer in the Nordics posted a 7 percent revenue increase in Q3, but customer sentiment, competition and an acceleration in its store openings program pressured margins in Q3.
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ArticleZoff first public financial results show double-digit growth pace and higher margins
Reporting its financial results for the first time since its Initial Public Offering (IPO) last month, Japan-based retail group Zoff has announced a 11.8 percent year-on-year hike in revenue to 33.6 billion Japanese yen (€255.5m) for the first nine months of fiscal 2024. For the third quarter alone, total sales ...
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ArticleJapan optical retail market value inch up on cautious price hikes
The IOFT eyewear trade show, which took place in Tokyo from Oct. 15 to 17, was the opportunity for us to assess the dynamics of the Japanese eyewear market, in collaboration with Gankyo Publishing, a local B2B eyewear publisher and research company. The eyewear show itself was this year again ...
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ArticleMister Spex new management hails rebranding initial results in “transition quarter”
Group revenue was down by 3 percent in Q3 but sales were slightly up in Germany and in the key prescription glasses’ product category.
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ArticleRay-Ban Meta inspiring competition
Apple is exploring the exploring the territory, China’s Baidu already claiming a stake.
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ArticleLenskart close to break-even as revenue jumps 43% in FY2024
According to The Economic Times and several other Indian business news organizations, optical retail group Lenskart has reported a 43 percent year-on-year jump in operating revenue to Rs 5,610 crore (€625m) for its 2024 fiscal year, ended at the end of March. The group had roughly doubled its sales in ...
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ArticleThélios to invest in MYKITA
LVMH’s eyewear unit expands its footprint in the eyewear designer segment with a minority stake in the Berlin-based eyewear designer and manufacturer.
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ArticleWarby Parker raises guidance again as sales momentum continues
Warby Parker raised its full-year guidance for revenues and adjusted Ebitda as sales momentum continued in the third quarter and the start of the fourth. Third-quarter revenues increased by 13.3 percent year over year to reach $192.4 million, in line with the growth rate seen in the previous quarter and ...
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ArticleSafilo keeps focus on margins as sales slump persists
Safilo Group’s topline continued to slip in Q3 2024, as quarterly sales went down by 4.1 percent year on year to $225.4 million, weighed down by a stubbornly soft North American business. At constant rates, revenue decreased by 3.4 percent versus 2023, in line with the company’s performance in the ...
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ArticleNational Vision to close 39 stores, moderate new store growth after lackluster Q3
Q3 revenue was up by 2.4 percent year over year to $451 million. Adjusted operating margin remained in low-digit territory.
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ArticleKITS Eyecare reports higher profit ratios and 34% revenue hike for Q3
Full-year revenue forecast at close to 160 million Canadian dollars.
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ArticleMarcolin sales still down despite EMEA Q3 rebound, 9M margins slightly up
In line with its previous financial results Marcolin has reported slight profitability improvements for the first nine months of this year despite a continued decline in group sales, mostly related to the Americas market. Revenue in the nine-month period was down by 3.2 percent year over year to €408.0 million, ...
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ArticleUS consumers increasingly opt for budget eyewear in stores, survey finds
Commenting the results of its most recent quarterly survey, The Vision Council, the US eyewear industry association, stressed that in-store customers were increasingly opting for spending less than $100 out-of-pocket for their eyewear purchase, confirming the shift away from luxury eyewear that has been the trend in the country in ...
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ArticleEssilux backs chief strategy officer Leonardo Maria Del Vecchio amid hacking probe
EssilorLuxottica has expressed its support for Leonardo Maria Del Vecchio, its chief strategy officer and the son of the late founder of Luxottica, amid a probe that has seen four individuals placed under arrest and Del Vecchio and dozens of others being investigated by the Milan public prosecutor’s office for ...
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ArticleHOYA Life Care business returns to growth in Q2, confirming IT incident recovery
Hoya Life Care unit sales increased by 2.2 percent at constant rates in fiscal Q2, driven by ophthalmic lenses and contact lenses.
