Latest Headlines – Page 56
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ArticleFarfetch, Alibaba, Richemont, Pinault family form a formidable alliance in digital sales
Farfetch, Alibaba, Richemont and the Pinault family, which owns the French luxury goods company Kering, have entered a global partnership with the declared intent of providing luxury brands with “enhanced access” to the Chinese market as well as accelerating the digitization of the global luxury industry. Under the agreement, Farfetch ...
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ArticleSafilo sees uncertain year end after Q3 sales rebound
Safilo could not provide an outlook for November and the holiday season due to growing uncertainty resulting from a resurgence of Covid-19 cases in many countries after posting a strong improvement in sales in the third quarter and seeing a continued positive development of its business in October. In the ...
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ArticleAmazon Q3 sales up 37%, net profit triples
Amazon’s third-quarter sales grew by 37 percent to $96.1 billion. They were boosted by booming online transactions during the coronavirus crisis worldwide, which prevented or discouraged shoppers from purchasing in physical stores. Excluding a $691 million favorable impact from year-over-year changes in foreign exchange rates during the quarter, sales increased ...
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Bausch Health Q3 revenues up 28% from Q2
Bausch Health’s revenues were $2,138 million in the third quarter of 2020, down by 3 percent from a year earlier both on a reported and an organic basis, as the company continued to suffer from the impact of the Covid-19 pandemic. But, compared with the second-quarter, the top line was ...
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ArticleEssilorLuxottica sees sharp improvement in Q3
EssilorLuxottica bounced back in the third quarter after second-quarter revenues were nearly halved amid Covid-19 lockdowns. Sales in the three months to Sept. 30 were down by 5.2 percent from the year-ago quarter to €4,085 million, or by 1.1 percent at constant exchange rates. The company did not release earnings ...
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ArticleGrandVision recovers faster than expected in Q3
GrandVision enjoyed a stronger-than-expected recovery in the third quarter, especially thanks to the performance achieved in the Benelux, Germany, Austria and Switzerland, but the company remains cautious as the second wave of the Covid-19 pandemic hits Europe. So far, one of the positive aspects of the pandemic has been to ...
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Article3Z launches nationwide Russian online store
The Russian eyewear retailer 3Z has launched an online store, which offers delivery all over the country, including the remote, hard-to-reach regions of the far north. No other Russian eyewear retailer is currently operating nationwide. 3Z is one of Russia’s biggest ophthalmological networks, operating 33 diagnostic centers and four clinics ...
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ArticleHoya bounces back in lenses, improves operating margin
As previously announced by Alexandre Montague, the new chief executive of Hoya Vision Care, in an interview with us, eyeglass lenses’ revenues of the Japanese group Hoya have bounced back to pre-Covid levels. In the presentation of its results for the second quarter ended on Sept. 30, the company reported ...
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ArticleChange of ownership at Mondottica International
The Hong Kong-based Mondottica International has changed ownership and is now controlled by a consortium comprising Capital Eyes Holding, Ross Holdings and Ferdinand Menrad. No financial details were released, but the tran partnersaction includes a substantial capital injection. Capital Eyes Holding is an Asia-based investment company involved in eyewear manufacturing, ...
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ArticleNew CEO and brand positioning for Hoya Vision Care
Hoya has announced the appointment of Alexandre Montague as the new CEO of Hoya Vision Care, the lens division of the Japanese group. The French eyewear industry veteran started in this position in August, after spending six months at the helm of Hoya Eye Care, the company managing the contact ...
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ArticleContrasting consumer sentiment across Europe
The second wave of the Covid-19 pandemic is beginning to stifle the previously expected recovery of the European economy, particularly for the consumption of non-essential products and services. Fortunately, it has not yet led to the retail lockdowns of the first wave in the spring – except in Wales and ...
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ArticleU.K. government under pressure over move to scrap tax-free shopping
The British Finance Minister Rishi Sunak is under mounting pressure from major retailers to reverse his decision to abolish duty-free shopping next year which they claim will lead to significant job losses. Leading U.K. fashion and luxury brands, including Paul Smith, Ted Baker, The White Company and Superdry, have warned ...
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ArticleMarchon to use Eastman’s sustainable acetate
Marchon announced that it will be the first eyewear company to produce frames using Acetate Renew, a sustainable material produced by the American specialty chemical company Eastman. Unlike other sustainable alternatives, Acetate Renew is indistinguishable from classic acetate, according to Marchon. It plans to start producing acetate sunglasses and ophthalmic ...
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ArticleU.K. threatens no-deal Brexit but talks to continue
Tensions on stalled Brexit trade talks intensified as Boris Johnson, the British Prime Minister, said Britons should prepare for a no-deal departure if the European Union (EU) did not compromise, raising the prospect of supply chain chaos across Europe. Johnson stopped short of saying he was walking away from the ...
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ArticleSynsam builds new plant as it moves production to Sweden
Synsam plans to move eyeglass production from Asia to Sweden next year. The project involves the construction from scratch of a new factory that the company claims will focus on sustainable production. The facility is scheduled to be completed in autumn of 2021 in the town of Ockelbo. With an ...
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ArticleEssilor restructures its French sites
Essilor, the ophthalmic lens unit of the Franco-Italian group EssilorLuxottica, is grouping four existing French sites into a new laboratory that will be located in the Paris region. From the end of 2023, the company will transfer the ophthalmic lens business of the sites of Antony, Vaulx-en-Velin and le Mans ...
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ArticleEleven companies launch the Renewable Carbon Initiative
Eleven companies from six countries have joined forces to launch the Renewable Carbon Initiative (RCI). The initiative, under the leadership of German research institute nova-Institute, aims to phase out the use of fossil fuels for all organic chemicals and materials by 2050 to enable chemicals, plastics and other organic materials ...
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ArticleEU agrees on common rules for travel restrictions due to Covid-19
The European Council has adopted a recommendation on a coordinated approach to travel restrictions in response to the Covid-19 pandemic. The council comprises the heads of state or government of the countries forming the European Union, as well as the president of the council and of the European Commission. ...
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ArticleGlobal talks on digital tax prolonged to 2021
The 137 countries involved in talks on base erosion and profit shifting (BEPS) due to the digitalization of the economy have agreed to keep working towards an agreement on the taxation of digital companies by mid-2021, thus acknowledging that they will fail to strike a deal by the end of ...
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ArticleOpti2021 cancelled over Covid-19
Opti2021, which was scheduled Jan. 8-10, 2021, in Stuttgart, has been cancelled because of the resurgence of the Covid-19 pandemic. “This decision was a result of rising infection rates, travel restrictions and feedback from the industry,” said the organizer of the German trade show, GHM Gesellschaft für Handwerksmessen. The company ...
