Latest Headlines – Page 169
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Seiko Comes Short Of Its Targets
Seiko has laid out a new 3-year plan under which its optical products business should generate operating income of 1.4 billion yen (€8.6m-$11.5m) on sales of 32.0 billion yen (€166m-$263m) by the financial year ending March 31, 2009. The Japanese company wants to achieve this target by responding ...
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Gold & Wood Moves Into New Territories
Gold & Wood, the specialist in luxury eyewear based in Luxembourg, has launched many new initiatives after several years of strong sales growth. Among other things, it has signed a global 5-year license with Korloff, a special French brand of watches and jewelry, for a coordinated line of eyewear inspired ...
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Hal Trust Makes An Investment In Switzerland
GrandVision, the French-based company that recently became a 100 percent owned subsidiary of HAL Holding, has acquired a 30 percent stake in Visilab, one of the leading optical retailers in Switzerland, in exchange for its six Swiss GrandOptical stores and for an unspecified cash payment. GrandVision also has a right ...
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Falling Under New Ownership, Boots Opticians Expands Franchising
Boots Opticians plans to open between 40 and 50 franchised practices over the next year, half of which will be in-store and half will be free-standing. This follows on from the 24 franchised practices that Boots Opticians has already opened and which have generated ?very good? results. The first eight ...
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Rodenstock Looks At Franchising In The Uk, Too
Rodenstock is forecasting that its new franchising venture for optical practices in the UK will generate a multi-million pound business over the next five years. It is promoting the venture as ?Quality without Compromise,? without imposing its own products. The company estimates that it will generate over £20 million (€29.4m-$40.0m) ...
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Luxottica Is Very Optimistic
As the current net debt level is only 1.31 times earnings before interest, tax, depreciation and amortization (EBITDA), Luxottica can keep up with its current pace of a small or medium-sized acquisition every two to three months and its balance sheet even allows it to envision ?something a little bit ...
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Fielmann Continues To Expand In The Germanic Countries
In the 1st quarter, Fielmann's profit before tax climbed by 16.9 percent to €29.3 million and its net income rose by 14.7 percent to €19.3 million. Consolidated sales increased by 5.9 percent to €203.6 million, but including franchisees' sales and VAT they were up by 7.7 percent to €243.0 million. ...
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Guildinvest Improves Market Share
The combined sales of the 1,386 optical stores affiliated with Guildinvest under its own banners increased by 5.8 percent to €793 million, with 3.0 percent growth on a same-store basis. The banners are Krys, Lynx Optique, Vision Plus and Vision Originale in France, plus the Vision & Co. joint venture ...
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French Opticians Get More Power To Prescribe Lenses
The French government has issued new regulations that allow certified optometrists to adapt an eye doctor's prescription to the new conditions of the patient, informing the doctor of the change, and the social security system will reimburse the cost of the corresponding lenses. The optometrist will wear a badge showing ...
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Acquisitions Will Help Essilor To Grow Fast, After An Excellent Quarter
Essilor is working on many new acquisitions in all three continents. Combined with other recent takeovers such as that of Novacel, a large French laboratory that is expected to generate sales of €39 million this year, they could add between 4 and 5 percentage points to the group's annual growth ...
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Hoya Vision Grows Faster
Aided no doubt by the depreciation of the yen, Hoya raised its sales of vision care products by 18.8 percent in the 4th quarter of its financial year ended last March 31, reaching a level of 33.1 billion yen (€203.3m-$276.5m), but the operating margin of the segment declined to 17.4 ...
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Changes At The Top For Cooper Companies
Just as it is about to complete the painful 3-year-old integration of its CooperVision (CVI) subsidiary with Ocular Sciences, bought in January 2005, Cooper Companies has announced that CVI will move into the parent company's head office and that there will be some major management changes. Gregory Fryling, president ...
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Marcolin Will Sell Or Restructure Cebe
Cébé, the French sports eyewear brand that Marcolin acquired in 1999, is up for sale. Negotiations are currently underway with a potential purchaser who has offered to buy the brand, but its name cannot be revealed at this stage. If a satisfactory deal is not concluded, the Italian group will ...
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Moschino Switches To Allison From Luxottica
The Italian fashion house has picked Allison, a fast-growing Italian producer, to replace Luxottica, the sector's leader, as its eyewear partner. The parties signed a 5-year renewable contract and the first collection, to be presented in August, will consist of 25 sunglasses and 25 optical frames. Ten new styles will ...
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Optics-focused Strategy Paid Off For Oakley In 1st Quarter
Oakley's operating income jumped by 243.2 percent to $9,733,000 in the 1st quarter, ended March 31, on sales that climbed by 31.3 percent to $199.2 million. The gross margin grew to 54.3 percent from 53.1 percent in the year-ago period, reflecting a higher price mix in the optical segment and ...
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Orange 21 Reports Another, Larger Loss But Sees Stability Ahead
The parent company of Spy Optics had to rid itself of excess inventory in 2006, adding $3 million in costs and causing its gross margin to shrink to 41 percent, as compared to 49 percent in 2005. The net loss for the year was $7.3 million, compared with a loss ...
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Inspecs Wins Queen's Award, Enjoys Indian Culture And Pure Design
The British eyewear company has won the Queen's Award for international business after reporting 500 percent growth in its sales of eyewear outside of the UK over the last three years. The award will be given to the company's founders, Robin Totterman and Chris Smith, at Buckingham Palace this July. ...
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Sover Gets The Kiton License For Its Luxury Eyewear
Sover has signed a 5-year agreement to produce sunglasses and prescription eyewear for Kiton, an Italian fashion brand located in Naples. The partners are hoping to generate €8 million in the first 3 years, subsequently followed by annual revenues subsequently of around €5 million. Precious materials such as gold will ...
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Italian Exports Grew By 18.2% In 2006
Italian eyewear exports enjoyed strong 18.2 percent growth in 2006, according to the final figures for the year released by ANFAO, the Italian industry association. Out of their total value of €2,070 million, €1,350 million was generated by sunglasses and €675 million by frames for prescription eyewear. The growth rate ...
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Amo Improves Sharply
The American company's operating profit jumped by 180.0 percent to $27,244,000 in the 1st quarter ended March 30, on sales growth of 5.6 percent to $251.7 million. The gross margin shrunk by 1 percentage point to 62.5 percent. Net earnings more than quadrupled to $12,109,000. Growth in the quarter was ...
