Latest Headlines – Page 34
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ArticleKubota Glass reports first sales, expands distribution in Japan
Kubota Pharmaceutical Holdings has announced the signature of a distribution agreement for Kubota Glass, its myopia management glasses, with EYETOPIA, a regional chain of optical shops in Japan that will offer the device in some of its roughly 170 Megane Store locations. In December last year, Kubota also opened a ...
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ArticleSafilo targets 4% annual growth pace for 2023-2027
The Safilo Group has confirmed an 11.1 percent year-on-year revenue for 2022 to €1,077 million as already announced in January when the company released its preliminary results, in spite of a strong deceleration in the last quarter of the year. We are focusing in this article on new information provided ...
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ArticleZEISS to accelerate in AR/VR glasses as tooz’ sole owner
ZEISS has announced its full acquisition of tooz technologies, the joint venture that it launched in 2018 together with Deutsche Telekom in order to develop augmented reality (AR) and virtual reality (VR) glasses. By buying the 50 percent share of its telecom partner, ZEISS becomes tooz’ sole owner and the ...
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ArticleMyDay, myopia management keep driving CVI
CooperCompanies has reported a 4 percent year-on-year increase in revenue to $581 million for its CooperVision unit in the first quarter of its fiscal year. In organic terms, sales went up by 10 percent versus Q1 2022 with homogenous growth across all region. The sales’ momentum was driven by daily ...
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ArticleNational Vision in the red in Q4 as uninsured customer base is hit by inflation
National Vision, the U.S. third largest optical retailer, has reported decreasing sales and sharp profitability drops for both the last quarter of 2022 and the full year, which sent the company’s stock price tumbling. The company, which mostly addresses the lower end segment of the market, noted that the economic ...
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ArticleWarby Parker sees more store openings, looks to improve profitability after mixed Q4
Warby Parker expects to open another 40 stores in 2023, while it also looks to improve profitability and grow its top line by another 8-10 percent despite continued economic uncertainty and a “depressed consumer environment”. In the three months ended Dec. 31, revenues at the U.S.-based direct-to-consumer (DTC) company increased ...
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ArticleUp 21% in 2022, TOG forecasts 5-8% growth this year
The Thai Optical Group posted a 21 percent year-on-year increase in revenue to 2,980 million Thai baht (€80 m) for 2022. The lens maker said that its sales rebound was mostly due to the easing of pandemic-related restrictions in most markets. All markets saw their revenue increase at double-digit pace. ...
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ArticleEssilorLuxottica posts record revenue for 2022 despite Q4 slowdown
In spite of a relative slowdown in the last quarter of the year, EssilorLuxottica announced yesterday a record €24.5 billion in annual revenue for 2022, up by 23.6 percent year-on-year in reported terms. Comparable annual revenue – which is calculated as if GrandVision had been integrated from Jan.1, 2021 – ...
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ArticleFielmann eyes new investments, cost-cutting as 2022 sales inch up and profits fall
Fielmann said it is looking to accelerate strategic investments and step up cost-cutting measures, after it reported that it had gained market share in all major markets in 2022 and seen a modest increase in sales but suffered on the profitability front. According to preliminary figures released yesterday, Germany-based Fielmann’s ...
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ArticleBausch + Lomb Q4 contact lens sales fall 4%, prepares to launch SiHy lenses in new markets
Bausch + Lomb reported fourth quarter sales of its contact lenses totaling $219 million, down by a reported 4 percent on the year earlier but reflecting 4 percent organic growth, as it announced plans to expand the sale of its successful Infuse/Ultra One Day daily disposable silicone hydrogel contact lenses ...
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ArticleSynsam keeps growing but adjusts to tougher market
Reporting its results for the fourth quarter of 2022 and the full year, leading Nordic retailer Synsam Group said that its double-digit revenue hike resulted in market share gains in a challenging market environment. The company’s growth pace is however slowing down and profitability declined sharply year-on-year on strong network ...
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ArticleGFK sees French market up 5% in 2022
GFK delivered a mixed picture for the European market during its presentation at the annual conference of the Club Inter-Optiques, a French-based industry association, last Friday. The research company’s data is based on sell-out figures collected at a panel of optical shops in the different countries. As shown in the ...
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ArticleThe trade-off game behind Ray-Ban Stories
On its website, Meta has laid out the two-year saga behind the development of its joint-product with the EssilorLuxottica brand Ray-Ban: the Stories series of smart glasses. One of the concerns was privacy, which for Meta amounts to protection – for wearers and the people around them – against unwanted ...
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ArticleKering Eyewear speeds over the €1bn mark
Kering Eyewear has reported €1,115 million in annual revenue for 2022, up by 59.7 percent from 2021, with an almost equal contribution to growth from acquisitions and existing portfolio. In the last two years, the subsidiary of French luxury group Kering has more than doubled its topline figure. In more ...
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ArticleACEP looks abroad for growth
ACEP, the French-based supplier of digital tools and services for optical shops, is accelerating its international development with the opening of a subsidiary in Japan on Jan. 1, Jean-Philippe Sayag, CEO of the company told us in an interview. The company has been operating branches in the U.S. and Spain, ...
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ArticleEssilux to launch new AI-powered Varilux lens
After it skipped the 2022 edition of MIDO, EssilorLuxottica came back in force to the Milan trade show this year with a stand surface of over 1,000 square meters to present its range of frames, lenses and instruments. The group presented, for the first time at the show and in ...
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ArticleNew top management structure to steer MAGRABi's expansion plans
MAGRABi Retail Group, a leading eyewear retailer in the Middle East, has reshuffled its top management structure with several key appointments at the start of 2023, after the company strongly accelerated its investments in both network expansion and vertical integration in the course of last year. Effective Jan. 1, Amin ...
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ArticleUnderstanding the GPSR and what it could mean for EU businesses
Have you heard of the GPSR and do you know what it means for businesses in the EU? We explain the main points every brand needs to know
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ArticleMIDO bounces back strongly
MIDO officials expressed their strong satisfaction, tainted with a sense of relief, after the 51st edition of the international eyewear show closed its doors on Feb. 6 with all key metrics on green. The event organizers have announced that 35,000 industry professionals from over 140 countries visited the show this ...
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ArticleHOYA announces mixed Q3 results, global partnership with NIDEK
HOYA CORPORATION revenue inched up by 1 percent year-on-year in Q3 to 173.5 billion Japanese yen (€1.2 bn) as the continuous – albeit slowing – growth in its Life Care segment’s sales and currency tailwinds offset a sharp decline in the IT division business. At constant rates, the group’s topline ...
