Latest Headlines – Page 102
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A good Mido
The organizers of the Milan show report an increase of 8.7 percent in the number of visitors to its 45th edition, ended on March 2. They reached a record level of 49,000, and 56 percent of them came from outside Italy. Almost everybody registered for the show online before coming ...
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Fielmann makes a retail test in Italy
Confirming a report in B2Eyes, a top executive of Fielmann says the German company is moving into the fragmented Italian market with a test store due to be opened during the month of June in Bolzano, taking the place of an old café on via Museo.The choice of the city ...
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A more profitable Salmoiraghi pushes franchising
After accumulating losses and debts year after year, Salmoiraghi & Viganò, Italy's largest optical retail chain, closed its fiscal year on Sept. 30, 2014 with profit of almost €200,000, a clear sign of a turnaround, even if the sum is still modest.It came after the appointment of a new chief ...
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Italy’s Vision Group strengthens franchising, too
It is just a year since an Italian equity fund, Arcadia, acquired 46 percent of the capital of Vision Group, an Italian optical buying group with some 1,500 retail members. Arcadia was set up by Guido Belli, one of the founders of Bridgepoint, an international investor with a strong presence ...
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Givenchy license to offset loss of minor Kering brands for Safilo
Safilo announced that it has grabbed the Givenchy license from De Rigo, adding that the deal will more than compensate for the loss this year of the licenses on three brands whose eyewear is being taken in-house by their owner, the French Kering group, after the end of June.In a ...
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Safilo’s sales are accelerating
Safilo posted a 5.1 percent increase in its revenues to €1,179 million in 2014, accelerating in the fourth quarter with an increase of 11.2 percent to €311.2 million, partly thanks to the weakening of the euro against the dollar. At constant currency rates, revenues were up by 5.1 percent in ...
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Safilo to grow faster than the market, driven by house brands
Safilo wants to raise its annual turnover by about 40 percent to a level of between €1.6 billion and €1.7 billion by 2020, compared with the revenues of €1,179 million posted in 2014, driven by a doubling in the sales of its proprietary brands. The increase in the top line ...
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Luxottica proposes a super-dividend on strong 2014 results
Luxottica's board of directors is proposing to the general assembly a doubling in its dividend payments on its results for 2014, which show an increase of 18.4 percent in the reported attributable net profit to €642.6 million. On an adjusted basis, it increased by 11.4 percent to €687.4 million.Under the ...
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Luxottica sees European sales going up by 5-7% in 2015
Luxottica expects its sales in Europe to accelerate in 2015, rising by 5-7 percent at constant currency rates, against growth of 4.6 percent in 2014. In a conference call with analysts, the new joint chief executive of the group in charge of markets, Adil Mehboob-Khan, said with a couple of ...
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Luxottica aims to double sales to €15 billion in 10 years
Luxottica aims to double its revenues to some €15 billion in 10 years' times through organic and external growth. The new management, which is currently working on the company's business plan for the coming five years, unveiled some of its assumptions while commenting on the group's 2014 results.The company believes ...
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Sales should rise by 8-10% at Ray-Ban and Oakley this year
Luxottica expects its home brands Ray-Ban and Oakley to each boost sales by 8-10 percent this year. The company noted that Oakley is a $1 billion brand in the U.S., the same size as Ray-Ban, but remains “very underdeveloped” in the rest of the world. While brand awareness for Oakley ...
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Sunglass Hut to nearly double growth pace in 2015
Sunglass Hut, Luxottica's global sunglass retail chain, is expected to raise its comparable sales by 12-14 percent this year compared with 7.4 percent in 2014, company officials said. The banner's overall sales rose by 13.5 percent last year, the fifth year of double-digit growth in a row. The chain opened ...
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Luxottica's STARS scheme is now covering 10% of its wholesale business
Luxottica has extended its automatic replenishment system, STARS, to cover about 10 percent of the group's wholesale business, and the company is targeting 20 percent coverage in three years' time. The company claims that the system can lift store sales by about 20 percent and cut inventories by a quarter.Before ...
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Marchon gets close to $1 billion
Marchon Eyewear is almost certain to reach the milestone of one billion dollars in sales this year, further consolidating its position as the third-largest player in the global market for prescription frames and sunglasses. It would have broken the $1 billion barrier in 2014 if the dollar had not appreciated ...
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Rodenstock is doing well on many fronts
Rodenstock is doing much better than five years ago, when its controlling shareholder, Bridgepoint Capital, installed a new chief executive, Oliver Kastalio, who has made many interesting initiatives. Sales and profits have increased every year since the appointment of this former manager of Procter & Gamble. The German company started ...
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Ørgreen joins forces with Claire Goldsmith in the U.S.
Ørgreen Optics and Claire Goldsmith Sunglasses are inviting their customers to a Danish-style party in New York next Saturday night, during the International Vision Expo show, to celebrate another major step in their alliance. They will be exhibiting together at the fair following the establishment of a joint U.S. sales ...
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Vuarnet invests in the U.S. again
Vuarnet has set up a sales office near New York City for the U.S. market, where it sunglasses had reached impressive sales volumes after a major campaign during the Los Angeles Olympic Games in 1984. The office is run by Lucio Lozza, a veteran of the Italian eyewear industry who ...
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Spy makes some progress
Spy Inc. improved operating results and reduced its net losses in the financial year ended Dec. 31 as well as in the fourth quarter. The American company's revenues increased by 0.9 percent for the year to $38.1 million, but jumped by 13.2 percent to $9.8 million in the fourth quarter, ...
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Italy’s eyewear exports grow by 11.8%
2014 was a year of growth for the Italian eyewear industry, but only thanks to exports, which have leapt from 70 to 90 percent of the total production in the last few years. The industry's turnover grew last year by 9.4 percent to €3,171 million, with sales outside Italy rising ...
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GrandVision is worth around €5 billion
GrandVision closed today on Euronext at a price of €20.36 per share, after reaching a high of €20.50 and a low of €19.99 since it went public on Feb. 6. After announcing an indicative price range of between €17.50 and €21.50 a share for its planned public offering (IPO), the ...
