Latest Headlines – Page 137
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Opti '11 Was The Site Of Some Firsts
About 22,700 trade and business professionals visited the Opti '11 fair held in Munich Jan. 28-30 on a daily basis, the same as one year ago, and the business climate was very good. An increase was recorded in the number of international guests, with almost one-fourth of the visitors coming ...
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Companies Come Back To Mido
The recovery of the optical market has brought the major players back to the European shows in a big way. Luxottica, Safilo, Marcolin and Charmant returned to Opti München, and they will also be in Milan for the forthcoming edition of Mido, taking place in Milan on March 4-7. ...
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Vision Expo Ready For New York
Visitors can expect to find many new features at the International Vision Expo & Conference scheduled for March 16-20 in New York. New to the fair this year is Vision Mobile technology. Via their smartphones or other mobile devices, Vision Expo visitors will be able to plan their ...
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Vision Council Names Youngest Chairman Ever, Jamie Shyer
At its executive summit in Miami last month, The Vision Council inducted its 2011 officers and board of directors, and announced that James Shyer of Zyloware Eyewear is the new chairman. Heading up eye-care-related groups is in the blood of the 42-year-old ?Jamie? Shyer, the youngest chairman ever of ...
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Rodenstock Signs Restructuring Agreement With Creditors
After protracted discussions and negotiations, Rodenstock has finally come to a financial restructuring agreement with its creditors, which was officially announced Tueday, in time for the Opti München fair starting Friday. Bridgepoint Capital will remain the majority shareholder of Rodenstock with a 51 percent share, and the involved banks will ...
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Luxottica Books Strong Fourth Quarter
Luxottica beat market expectations by reporting a 16.4 percent increase in sales to €1.347 billion in a preliminary statement for the fourth quarter ended last Dec. 31. On a similar currency basis, turnover rose by 6.5 percent, driven by the group's U.S. and Far East operations. In the U.S., where ...
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After A New Wedding, Del Vecchio Halts The Reorganization Of Luxottica's Family Interests
The recent upheaval in the personal life of Luxottica's boss, Leonardo Del Vecchio, who has remarried his second wife, has upset plans for the reorganization of the equity of the family holding company, Luxembourg-based Delfin. Through this holding company, Del Vecchio has a huge 67.83 percent controlling share in Luxottica, ...
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Oakley Wants To Double In Size Europe In Next Four Years
That's the goal set for Frank Heissat, the 42-year-old French manager who was appointed last May as vice president of Oakley EMEA, responsible for Europe, the Middle East and Africa. Strong growth is expected in both the optical and sports retail channels, which currently have roughly a 50-50 split in ...
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Essilor Expands In China, Makes New Acquisitions
In one of several new transactions, Essilor International has acquired a 50 percent stake in Wanxin Optical, described as one of the three major Chinese manufacturers of ophthalmic lenses. Based in Danyang, north of Shanghai, it has annual sales of about €24 million, annual production of about 35 million lenses, ...
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Marcolin Was The Best Performing Italian Stock In 2010
Marcolin was the best performing stock on the main market of the Italian Bourse last year, with the share price rising by 192.5 percent to €4.37 at the end of December from the level it had reached a year earlier. The share price was supported by the group's turnaround and ...
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Safilo Renews Two Licenses
Safilo has renewed until Dec. 31, 2015 a license agreement for prescription and sunglasses with Yves Saint Laurent (YSL) and prolonged a similar deal with Bottega Veneta until Dec 31, 2020. Both fashion brands are part of the Gucci Group and their licensing deals with Safilo were scheduled to expire ...
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Krys Partners With Its Retail Members On Its E-commerce Platform
Krys launched on Jan. 24 its e-commerce platform. It will rely on the 850-odd stores affiliated with the French buying and franchising group for the delivery and fitting of prescription spectacles and the first-time purchase of contact lenses. It will only offer home delivery for ordinary sunglasses and repeat purchases ...
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J&J Settles With Novartis
Novartis's CIBA Vision division has reached a global settlement with Johnson & Johnson Vision Care to license CIBA's ?Nicholson' patents for silicone hydrogel contact lens technology. The terms of the agreement are confidential. The settlement ends ongoing litigation in the U.S. as well as several European countries. The ...
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Cooper Refinances Debt
Taking advantage of lower interest rates, Cooper Companies has refinanced its debt and expects the deal to trim earnings per share by $0.14 in the 2011 fiscal year. Excluding debt extinguishment costs of approximately $17.3 million the transaction would have to boost EPS by $0.08. Cooper has entered ...
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Orange 21 Sells Manufacturing Unit
Orange 21 has sold for €15,000 a 90 percent stake in LEM, the Italian manufacturer of high-end injection-molded sunglasses that it had bought in 2005 from Riccardo Polinelli when the U.S. company went public. Two managers of LEM, Stefano Lodigiani and Claudio Marcassa, now have a 25 percent stake each ...
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Gerber Coburn Replaces Essilor With Huvits
Gerber Coburn and Essilor International have not renewed their agreement for the distribution of Essilor finishing equipment in the U.S., which expired on Dec. 31. Instead, Essilor has launched its new U.S.-based operation for the distribution of these products, while Gerber Coburn; which recently went through a management buyout, has ...
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What Do Bmw And Lady Gaga Have In Common? Stylemark
Stylemark, parent company of Polaroid Eyewear, has announced a six-year licensing deal that will give it the right to develop and distribute a branded premium line of sunglasses and optical frames in certain markets, starting with China. Its new BMW Premium Eyewear collection will be introduced at the China International ...
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Buffard Gets The European Sublicense For John Lennon Eyewear
Eagle Eyewear, the American company that manages the John Lennon brand of eyewear named after the famous member of the Beatles, has decided to expand its presence in Europe. Over the past eight years the brand was distributed by a company called IFC, but from 2011 the European sublicense has ...
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Opti '11 Expects 450 Exhibitors In Munich
Opti '11, the eyewear show opening in Munich tomorrow and running through Jan. 30, will have about 450 exhibitors, compared with 434 a year ago. More than 160 companies are coming this time from 25 countries outside Germany. Turkey, France and Italy are among the nations that will have their ...
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Luxottica Reorganizes North American Management Team
Luxottica has thoroughly reorganized the management team of its North American retail and managed vision care divisions. The new organization involves new appointments and the creation of a management committee overseeing the two businesses. The committee is made up of executives from brands, manufacturing and managed vision care businesses and ...
