Latest Headlines – Page 201
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Luxottica Takes Over The Prada License
Luxottica has a signed a 10-year licensing deal with the Prada Group for the exclusive production and distribution of frames and sunglasses under the Prada and Miu Miu brand names and bought some assets of Eyewear International Distribution (EID), Prada's 3-year-old joint venture with De Rigo, for €26.5 million, including ...
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De Rigo Improves Retail Sales By 5% In Local Currencies
In constant currencies, De Rigo's total sales rose by 4.6 percent in the first 6 months of this year, despite the generally weak eyewear market, with its two retail chains, Dollond & Aitchison in the UK and General Optica in Spain, recording increases of 5.0 and 4.6 percent, respectively. Wholesale ...
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Bankruptcy Forces Ottica Romani Out Of Business
Almost 80 years after the opening of its first store, Ottica Romani, one of Italy's largest eyewear chains, which recently grew to a total of 50 outlets, has gone out of business. Following petitions filed by Luxottica and Killer Loop, the civil court of Rome declared the chain bankrupt on ...
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Oakley Gets ?Rained Out?
Oakley blames the extremely wet weather in all the critical areas of the USA through the end of June for a 9.1 percent decline in its unit shipments of sunglasses around the world in the 2nd quarter ended June 30, in spite of some good new product offerings and the ...
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Hoya Shifts Some Uk Capacity To Thailand
More than 200 jobs should be eliminated at the Wrexham factory of Hoya Lens UK as the company plans to transfer later this year its mass production of semi-finished Eyas lenses to Hoya Corp.'s large factory in Thailand, where the group has already moved much of its Japanese manufacturing operations. ...
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Essilor Does Better In The Usa
On a comparable basis and in constant currencies, Essilor International's global sales rose by 2.3 percent in the 1st half ended June 30. In the USA, the decline experienced at the beginning of the year flattened out in the 2nd quarter, which recorded only a slight drop. Business in Europe ...
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Alain Afflelou Buys Optique Carrefour
The big French optical retail franchisor is taking over the French and Spanish networks of optical retail stores ? 68 in France and the same in Spain - which have been set up by Carrefour, the large international chain of hypermarkets. Under a deal announced last week, Alain Afflelou also ...
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Boots Consolidates Its Optical Business, Tries Out The Joint Venture Approach
Boots plc has decided on a variety of measures intended to re-position its optical stores in a higher level of the market, offering more designer frames and high-quality lenses and fewer costly in-house services like new lenses in one hour. These and other measures are expected to improve the operating ...
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Luxottica Makes Good On Loss Of Armani
While going ahead with the planned friendly takeover bid for the Australian OPSM chain for €327 million, which will end up giving Luxottica a total of 3,415 retail outlets around the world, Leonardo Del Vecchio, the group's chairman, told shareholders last week that the revenue shortfall resulting from his split ...
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Permira Takes A Big Stake In Rodenstock Along With The Management
Permira Funds, one of the leading European private equity advisors, is acquiring a 49 percent stake in the 125-year-old German company along with members of its management for a undisclosed amount. Randolf Rodenstock will continue to run and control the German group through his family holding company, Optische Werke, with ...
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Marchon Benefits From The Dollar
Growing flexibility in manufacturing and other processes should help Marchon to take better advantage than its Italian competitors from the rapidly declining value of the dollar, especially by making greater use of its new Chinese facilities. On the other hand, improved sales forecasting and production planning, combined with the use ...
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Indo Had A Temporary Loss In 2002
INDO suffered a net consolidated loss of €8,001,000 last year, as compared to a net profit of €2,216,000 the year before, due to a variety of factors. Besides extraordinary charges of €12.6 million stemming from a court case over the severance fees of 120 Spanish employees laid off 3 years ...
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Hilco Eyes New Acquisitions Under New Owners
Two New York-based investment companies, ICV Capital Partners and Palladium Equity Partners, have taken over Hilsinger Company (Hilco) together with the management from another investment firm for an undisclosed amount. The takeover should allow the current management, led by Bob Nahmias, top pursue new acquisitions, although nothing specific seems to ...
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Cooper May Make More Acquisitions, Too
The Cooper Companies, which controls CooperVision (CVI), is selling $100 million worth of convertible senior debentures to reduce amounts drawn under its revolving credit facility and for other purposes, including possible future acquisitions. An additional $15 million may be offered if the demand is high. Carrying interest of 2.625 percent, ...
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Larry Pollock Will Run Cole National
Larry Pollock has been promoted to become president and CEO of Cole National Corp., the large US optical retailer that owns a stake in Pearle Europe, following the retirement of Jeffrey A. Cole, the group's chairman and CEO. Walter Salmon, a professor of retailing at Harvard University, will become non-executive ...
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Italian Attendance Cut In Half At Mido
Next year, the Milan fair will run on May 7-10. The dates should help avoid a repeat of this year's massive 33.4 percent overall slump in attendance, to a total of 25,500 person, at the world's largest eyewear show. Fear of the SARS epidemic was undoubtedly a major reason for ...
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Italy's Production Stagnates And The Sunglass Market Continues To Decline
Italy's sunglass market is still in the doldrums, with some retailers reporting sales down by up to 30 percent for the 1st quarter of the year. Many Italian suppliers and retailers are compensating with stronger efforts in prescription eyewear, which is less fashion-related and less prone to the risks of ...
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New Training Programs And Weather Forecasts Should Spur Sunglass Sales
The European Sunglass Association will kick off at its annual convention in Barcelona next month a new training program for optical industry executives, retailers and salespeople which, along with other actions, should help give a new impulse to the sunglass market, which has been suffering serious declines in Italy and ...
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The French Industry Wants To Stimulate Consumption In A Flat Market
The French market for eyewear products reportedly rose by less than 1 percent in value last year to e3,111 million, according to GFK. After an excellent 2001, sales of sunglasses dropped in France by 10 percent in volume and by 12 percent in value, representing about 7 percent of the ...
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Guildinvest Invests In New Strategies
The 966 optical stores trading under the Krys, Vision Plus and Vision Originale banners, which are managed by the Guildinvest buying group, raised their combined sales by 8.5 percent to e526 million last year, with a growth of 5.1 percent on a same-store basis. That doesn't include the sales of ...
