Latest Headlines – Page 29
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ArticleVeneVision adds injection to portfolio with new acquisition
Fast-growing Italian eyewear OEM group VeneVision is adding another production process to its know-how portfolio with the acquisition of CIDI, a Treviso-based company specializing in the production of injected-polymer frames. “With this acquisition,” commented Nicola Belli, CEO of VeneVision, “a fundamental piece of the Group’s strategy is realized: we are ...
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ArticleSlow H1 for Arts Optical as sales of OEM prescription glasses drop
Arts Optical, the Hong Kong-based eyewear manufacturer, has reported a 2.4 percent year-on-year decline in total revenue to 566.4 million Hong Kong dollars (€68m) for the first six months of 2023 as positive results in its distribution and lenses’ divisions could not completely offset a decline in OEM sales. Furthermore, ...
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ArticleGlobal lens and frames market resilient to COVID and economic crisis, report finds
Underpinned by solid positive and long-term trends – aging populations and more digital lifestyles in the first place –, the global optical market emerged relatively unscathed from the COVID-19 crisis. That was one of the conclusions from the World Lens and Frames Demand report released last year by independent research ...
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ArticleModo acquires Italia Independent brand
MODO GROUP, the Italo-American eyewear company behind the MODO and ECO brands, has announced that it was acquiring the Italia Independent brand from the eponymous company. According to a release by Italia Indepedent, the transaction was agreed for a total of €1 million. As reported a few months ago, the ...
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ArticlePacked house and new lay out for Silmo Paris
As the Silmo Paris teams are gearing up for the 2023 edition of the show that will take place in two weeks in the French capital (Sept. 29 to Oct.2), we sat down with Éric Lenoir, the event’s director, to assess the current status of the fair and the novelties ...
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ArticleLenskart’s Neso Brands invests $4 m in French DTC eyewear brand
Neso Brands, the $100 m investment fund launched by Indian-based optical retail group Lenskart last year, has announced that it has acquired a significant stake in Le Petit Lunetier, a French direct-to-consumer (DTC) eyewear brand. It is the first investment in Europe for Neso Brands and Lenskart. As previously reported, ...
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ArticleThe U.K. and North America drove INSPECS in H1
The Inspecs Group has reported a significant improvement in profitability for the first half year of 2023, mostly thanks to the substantial reduction of its lens unit’s losses, while group revenue progressed at a low mid-single digit pace in constant currencies. As previously announced, the company has changed its reporting ...
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ArticleSafilo reaches deal with Thélios, Innovatek for Longarone plant and workers
Safilo Group said it has reached an agreement with Thélios, the eyewear business of the French luxury goods group LVMH, and Innovatek, an eyewear company owned by the businessman Carlo Fulchir, to guarantee the future of its Longarone facility and to relocate the 444 workers currently employed at the site ...
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ArticleThélios opens portfolio to proprietary brands with Vuarnet acquisition
Thélios, the eyewear company of French luxury group LVMH, has announced its acquisition of Vuarnet from NEO Investment Partners, the U.K.-based investment fund that owned the brand since 2013. This marks the first brand acquisition by Thélios whose portfolio included exclusively fashion brands from its parent company until now. Thélios ...
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ArticleFielmann upgrades outlook following confirmation of SVS deal
Fielmann Group has confirmed the closing of its acquisition of U.S. retailer SVS Vision, which will be integrated in the German-based retailer’s accounts from Sept. 1 and will therefore contribute four months of turnover to the group’s 2023 revenue. As previously reported, SVS Vision is based in Michigan and operates ...
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ArticleDriven by sunglasses, Mister Spex posts positive operating margin in H1
Mister Spex’ turnaround plan seems to be paying off as the German-based retail group reported a double-digit growth in revenue for the second quarter of 2023, market share gains in its domestic market and a return to a positive adjusted EBITDA for the first six months of the year. The ...
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ArticleCooperVision accelerates in Q3, upgrades full-year forecast
CooperCompanies has reported an 11 percent year-on-year revenue increase to $630.2 million for its CooperVision (CVI) unit in Q3, marking the tenth consecutive double-digit quarterly progression and an acceleration from the previous quarter (+6 percent). Sales of contact lenses were up by 12 percent at constant exchange rates and by ...
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ArticlePortfolio synergies and sunglasses on DEG roadmap
Last year’s summer was particularly busy on the corporate front for Design Eyewear Group (DEG) as, in just a few months, the company came under new ownership and acquired the business of William Morris London, the U.K.-based eyewear company. Almost one year later, we sat down with Lars Flyvholm, CEO, ...
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ArticleSpecsavers full-year results show profitability drop
According to Specsavers official accounts’ filing, the U.K.-based retail group’s profitability significantly declined in the twelve-month period ended Feb. 28 compared with the previous fiscal year. While consolidated revenue inched up by 1.1 percent to £3,436 million (€3,988 m) on a reported basis (the company reported last month a 5.6 ...
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ArticleSynsam posts another record quarter
Synsam Group has reported another quarter of double-digit revenue growth as sales for the quarter ended June 30 reached a record 1,566 million Swedish kronor (€132 m), up by 12.0 percent compared with Q2 2022. This however marks a deceleration from the previous quarter when they grew by 19.0 percent ...
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ArticleMenicon Q1 vision care sales inch up 4%
Menicon’s vision care sales inched up by 3.7 percent to 25,087 million Japanese yen (€158.8m) in the first quarter of fiscal year 2023, underpinned by a strong performance in the Japan-based contact lens maker’s overseas markets. In the three months ended June 30, sales in Menicon’s domestic market rose by ...
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ArticleWarby Parker sweetens outlook after Q2 sales rise 11%, store rollout continues
Warby Parker tweaked its guidance for sales upwards as it continues with the rollout of new physical stores and after revenues in the second quarter ended June 30 rose by 11 percent to $166.1 million to beat its guidance for the period of 7-9 percent growth. The U.S.-based direct-to-consumer eyewear ...
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ArticleNational Vision raises 2023 earnings guidance as prepares for end of Walmart partnership
National Vision raised its earnings guidance for the full year while maintaining its outlook for sales, as the optical retailer’s management provided financial analysts with initial indications of how it intends to ride out the previously announced end next year of its long-standing partnership with the retailer Walmart. For the ...
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ArticleItalian OEM group lists on the Milan stock exchange
Italian OEM eyewear manufacturer iVision Tech went public at the end of last week, listing its shares on the Euronext Growth Milan stock exchange. The company floated a total of 1,738,500 newly issued shares at an offering price of €1.15 per share for a total consideration of approximately €2 million. ...
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ArticleItalian OEM cluster group surfing on luxury eyewear momentum
Venevision, a group of Italian eyewear manufacturing companies in the Dolomites region, has announced that its revenue for the first half of this year reached €39.6 million, increasing by 58 percent year-on-year thanks to a series of acquisitions in the second half of 2022. On a comparable scope, sales were ...
