Latest Headlines – Page 32
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ArticleEssilorLuxottica unveils Ray-Ban Reverse collection
EssilorLuxottica has officially announced the launch of Ray-Ban Reverse, giving more details on the new sunglasses that were described as a “revolution” and a “reinvention” during the group’s last financial results presentation. The Reverse collection’s innovation lies in the design of the frames lenses that come with an inverted look ...
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ArticleJINS downgrades outlook, rethinks business model and supply chain
JINS HOLDINGS has downgraded its outlook for the current fiscal year ending next Aug. 31 after mixed results in the first half of the year, mostly due to lackluster sales on the Japan-based group’s domestic market. Sales in Japan grew by 2.4 percent year-on-year in H1 to 26,2 billion Japanese ...
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ArticleSynsam eyewear subscription business underpins record Q1 sales gains
Synsam Group generated sales of 1,411 million Swedish crowns (€124.7m) in the three months ended March 31, up by 19.0 percent on the year earlier, marking the company’s highest first quarter growth ever and underpinned by a sharp rise in sales for its eyeglass subscription business. Organic sales growth was ...
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ArticleParis Miki reports sales rebound and return to operating profit for 2022-23
Japanese-based retail group Paris Miki ended its fiscal 2022-23 year on a high note with total sales increasing by 9.2 percent year-on-year to 11,387 million Japanese yen (€76 m) in Q4 and sharply accelerating from the 4.9 percent growth reported for Q3. The rebound was equally shared between the company’s ...
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ArticleMenicon driven by dailies, ortho-k, overseas and currencies in FY2022
Japanese-based contact lens maker Menicon has reported positive full year results for its fiscal year ended March 31, with a double-digit increase in group revenue versus 2021 and a slight improvement in operating profit margin. The overseas markets, notably in the orthokeratology segment, higher sales of daily disposable lenses in ...
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ArticleGermany and prescription frames drove Mister Spex’ growth in Q1
Mister Spex has reported a 6 percent year-on-year increase in revenue to €51 million for the first quarter of 2023. The growth was fully attributable to Germany where sales grew by 12 percent to €38 million, thanks notably to the reallocation of marketing investments on the domestic market as part ...
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ArticleEssilorLuxottica signs JV with GCC luxury powerhouse
EssilorLuxottica has announced the signature of a joint venture agreement with Chalhoub Group, a regional leader in luxury fashion and cosmetics retail, for the development of its eyewear retail footprint in the Gulf Cooperation Council (GCC) region. The partnership will combine EssilorLuxottica’s eyewear expertise, in terms of technology and retail, ...
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ArticleHOYA Life Care unit posts strong sales and margin increases in Q4
HOYA Corporation has announced record-high quarterly revenue as the Japanese-based group’s topline progressed by 10 percent year-on-year to 185.8 billion yen (€1,264 m) in the last quarter of the financial year ended on March 31. In constant currencies, total sales were up by 3 percent. The overall revenue increase was ...
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ArticleWarby Parker confirms 2023 guidance after Q1 sales jump 12%
Warby Parker posted revenues in the first quarter ended March 31 of $172.0 million, up by 12.2 percent compared to the year earlier and above a guidance range of $164 million to $167 million. Active customers in the period increased by 2.5 percent to 2.29 million, while average revenues per ...
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ArticleEuropean soft contact lens wholesale market up double-digit in 2022
Euromcontact, the European federation of national associations and international contact lens manufacturers, calculated that total sales of soft contact lenses to eye care professionals (ECP) increased by 13.1 percent year-on-year to €2,079 million last year in the 30 countries researched in 2022. The list includes mostly European countries but also ...
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ArticleGrowth in Europe and RoW offset declining U.S. sales for Safilo in Q1
Safilo Group has reported mixed results for the first quarter of 2023 as revenue increases in Europe and emerging markets were offset by declining sales in North America, the company’s largest market. Operating profits remained stable year-on-year. As shown in our table below, total quarterly revenue reached €287 million, down ...
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ArticleGood year overall for Marcolin but debt cost dampens profitability, sales momentum confirmed in Q1
Following the announcement of its preliminary results at the end of March, the Marcolin group released more detailed information on its performance in the last year during its shareholders’ meeting at the end of last week. The company confirmed a 20.2 percent year-on-year jump in reported revenue to €547.3 million ...
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ArticleH2 slowdown weigh on INSPECS results for 2022
INSPECS has reported $248.5 million in revenue for 2022 – up by less than 1 percent year-on-year – and reduced profitability, as challenging market conditions, currency headwinds and difficulties at its Norville unit weighed on the U.K.-based group’s business, particularly in the second half of the year. Total sales, however, ...
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ArticleFielmann draws path to 2025 revenue and profit targets
Along with the publication of positive Q1 results (see our other article), Marc Fielmann, CEO of the Fielmann Group, presented yesterday during a press conference the key figures for the retailer’s business in 2022, its outlook for 2023 and an update on its Vision 2025 strategic plan. As already reported ...
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ArticleGerman market inched up in 2022 despite lower eyeglass purchases
The Zentralverband der Augenoptiker und Optometristen (ZVA), the German association of opticians and optometrists, has released its annual report on the German market for last year. The release was accompanied by a general sense of relief as, after it was feared that the market would fall into recession in the ...
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ArticleFielmann sees 15% topline growth, improved profitability in Q1
The Fielmann Group has reported a solid rebound in revenue for the first quarter of 2023 as sales increased at double-digit rates across all market. The results were presented at a press conference yesterday where Marc Fielmann, CEO, and Alexander Zeiss, CFO, also gave an update on the retailer’s Vision ...
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ArticleItaly issues €50 contribution for purchase of eyeglasses, contact lenses
Italy is issuing a €50 voucher or reimbursement for the purchase of prescription eyewear and contact lenses for low-income people who request the contribution on a new digital platform. Individuals can ask for the “Bonus Vista” starting May 5, while eyewear sellers have been able to register stores participating in ...
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ArticleMaui Jim integration adds to Kering Eyewear 11% comparable growth for a strong Q1
As expected following the integration of the Maui Jim business into the company’s results since October last year, Kering Eyewear revenue jumped by 44 percent year-on-year in the first quarter of 2023 to €433 million. On a comparable scope basis, the eyewear unit of the French luxury group posted a ...
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ArticleVuzix opens European HQ, banks on OEM platform for consumer smart eyewear
U.S.-based smart eyewear manufacturer Vuzix has announced the opening of a new office in Munich, Germany, to expand its business in Europe. The new office, established at Vuzix Europe GmbH, will serve the EU region as well as the Middle East and Africa. It will also operate with a global ...
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ArticleEssilux picks up speed in Q1, progresses on GV integration
After the group reported a relative deceleration in topline growth for the last quarter of 2022 two months ago, EssilorLuxottica has announced a sharp uptick in sales for Q1 2023 with group revenue increasing by 9.7 percent year-on-year to €6,151 million. At constant exchange rates, sales were up by 8.6 ...
