Latest Headlines – Page 55
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The U.K. reaches trade accord with Vietnam, but deal with EU unlikely
The U.K. has finalized a free trade agreement with Vietnam, which is scheduled to become effective from Jan. 1. It is the third trade agreement reached with an Asian country, after those with Singapore and Japan. The U.K. has also reached a preliminary trade agreement with Canada. The U.K. is ...
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ArticleCVI gains market share in contact lenses
CooperVision (CVI) saw a 1 percent year-on-year drop in sales to $506.3 million in the fourth quarter of CooperCompanies’ financial year, which ended on Oct. 31. At constant currency rates, the division’s top line fell by 3 percent. Nevertheless, the company claims to have gained market share in contact lenses. ...
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ArticleFashion industry sales may return to pre-Covid levels late 2022
The global fashion industry is expected to suffer a 15-30 percent decline in sales this year and is not expected to return to 2019 levels until at least the third quarter of 2022, according “The State of Fashion 2021”, a new report by Business of Fashion and McKinsey & Co. ...
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ArticleCarte Blanche set to become the N°2 healthcare network in France
Carte Blanche, the French healthcare organization owned by SwissLife and other insurance companies, has extended until Dec. 11 the registration deadline for French opticians wishing to join its network, as many could not complete the process in time because of the new Covid-19 related lockdown. The company, which focuses on ...
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ArticleEdel-Optics invested €3 million in robotized Hamburg flagship
Edel-Optics has invested €3 million in its new flagship store, located at Ballindamm 33 in Hamburg, Germany. The location, opened in late November after nine months of construction, enables customers to be served by opticians or by Temi personal robots and offers a selection of 250,000 items from the integrated ...
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ArticleTechVision looks to expand one-stop components shop
TechVision, an Italian holding company owning companies producing metal components and providing surface finishing services for eyewear, aims to roughly triple its size in the next three to four years, as the eyewear sector recovers from the hit it has taken from the Covid-19 pandemic and management keeps an eye ...
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ArticleFrance postpones start of winter clearance period to Jan. 20
The French government has postponed to Jan. 20 the start of the winter clearance period from its initial date of Jan. 6. The clearance period will last four weeks. In radio interview with RMC/BFM TV, the Economy Minister, Bruno Le Maire, added that the measure is aimed at helping small ...
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ArticleRevo partners with Bode Miller
Bode Miller, the most decorated American skier in history, has agreed to a long-term partnership with Revo, the 35-year-old brand of high-performance sunglasses, which has just come out with a new co-branded capsule collection of high-performance snow goggles. Miller, who previously wore various brands of ski goggles without endorsing any ...
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British delivery service fears uncontrollable Black Friday
London-based delivery service ParcelHero said that it’s forecasting an £8.49bn (€9.5bn-$11.5bn) monster Black Friday to Cyber Monday weekend. It warns that stores must learn from the disaster of Black Friday 2014 or delivery chains could snap once again this year. In 2019, Britons spent a £5.55bn (€6.2bn-$7.4bn) on Black Friday-Cyber ...
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ArticleA quarter of European firms need support or face a cash shortage in 2021
About a quarter of companies in the Eurozone will need more government support in 2021 to avert a cash-flow crisis, according to the French credit insurance company Euler Hermes. “The first wave of Covid-19 lockdowns caused a stronger-than-expected profitability shock for most European non-financial corporate” during the first half of ...
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ArticleManager takes over GemOptics from Mondottica
As part of its strategy to focus on its eyewear distribution business, with licensed brands such as Christian Lacroix, Sergio Tacchini or Pepe Jeans among others, Mondottica International has sold its entire stake in the wholly-owned unit GemOptics to Robert Content, the general manager of the French company. Founded in ...
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ArticleGlobal personal luxury goods seen down 23% this year
Global sales of personal luxury goods are estimated to fall by 23 percent this year to €217 billion, with constant currency sales down by 22 percent. It will be the first drop since the financial meltdown of 2009, according to the Altagamma-Bain Worldwide Luxury Market Monitor 2020. The survey forecasts ...
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ArticleMore than 6,000 participants at the IOFT Tokyo show
Due to the relatively low impact of the Covid-19 pandemic in Japan so far, the international IOFT show was able to take place from Oct. 27 to 29. The co-organizers, Reed Exhibitions and the Fukui Optical Association, have just announced that 5,688 visitors and 146 exhibiting companies participated in the ...
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ArticleInspecs buys Eschenbach for €95 million
Inspecs is buying the German company Eschenbach Holding for €94.85 million (£84.7m), a move that will enable the British eyewear company to obtain greater scale and provide it with the opportunity to acquire bigger global licenses. Inspecs will also be able to utilize its manufacturing expertise in Asia to assist ...
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ArticleItaly’s main buying groups merge
Italy’s two main buying groups, Vision Group and Netcity, will merge on Jan. 1, but will maintain their offices and staff based in Milan and Prato, near Florence. Vision Group has more than 2,100 associated optical stores, operating under different banners including VisionOttica’s, the group’s nationwide label with more than ...
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ArticleAlcon’s vision care sales flat in Q3
In the third quarter of 2020, Alcon’s vision care division, which includes the contact lens and ocular health businesses, posted net sales of $822 million, unchanged from a year earlier at current and constant currency rates. The company said that strong performances by Precision1, its newest daily silicone hydrogel (SiHy) ...
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ArticleFielmann warns that Covid second wave may affect full-year guidance
Fielmann confirmed its updated full-year guidance but warned that the introduction of restrictive measures in most of its markets to tackle the resurgence of the Covid-19 pandemic could prompt it to review its forecasts. The company currently anticipates external sales, which include value-added tax, to exceed €1.6 billion, but to ...
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ArticleNew Look Vision Q3 sales lifted by pent up demand
In the third quarter, New Look Vision Group, Canada’s largest optical retailer, posted a 16.8 percent year-on-year increase in sales to 86.9 million Canadian dollars (€56.1m-$66.3m) driven primarily by comparable store sales growth as well as from newly acquired stores. Comparable store sales were up by 13.5 percent, underpinned by ...
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ArticleL’Amy saved by ILG, MadaLuxe
L’Amy, the French eyewear maker, which can boast over 200 years of history, has been saved by its existing shareholder, International Luxury Group (ILG), and an American partner, MadaLuxe. The two buyers took over, with similar stakes, the company, which has been renamed Groupe L’Amy Luxe, and its unit Henry ...
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ArticleNational Vision sees Q4 comparable sales up by 5-9% as pent-up demand moderates
National Vision expects adjusted comparable store sales to grow by only 5 to 9 percent in the fourth quarter, after rising by 12.4 percent in the previous three months, as pent-up demand peters out. The third quarter experienced a strong rebound after comparable sales declined by 36.5 percent in the ...
