Latest Headlines – Page 58
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ArticleAmazon: The Janus-faced company
The current Covid-19 crisis has accelerated Amazon’s consumer goods business exponentially. The Silicon Valley giant doubled its profits in the second quarter of this year and increased its turnover to nearly $89 billion. The share value has also nearly doubled since the middle of March. On Sept. 1, Amazon announced ...
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ArticleLGBTQ collections become mainstream for the fashion, sportswear industry
The LGBTQ (lesbian, gay, bisexual, transexual and queer) fashion market has been growing over the last decade. In recent years, an unprecedented number of mainstream brands have begun to release LGBTQ collections.
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Novartis, Roche, Genentech fined €444.85 million in France in AMD treatment case
The French competition authority, Autorité de la concurrence, has fined the pharmaceutical groups Novartis, Roche and Genentech, a combined €444.85 million for abuse of dominant position to impose the use of the drug Lucentis over its cheaper alternative Avastin in the treatment of age-related macular degeneration (AMD). Genentech, which is ...
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ArticleLuxottica produces anti-Covid masks for Italian government
Luxottica, the Italian unit of the Franco-Italian eyewear company EssilorLuxottica, said that it has started the large scale production of face masks to help prevent the propagation of the Covid-19 pandemic. The company has already delivered a first batch of 3.5 million items as part of a government-sponsored initiative. The ...
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ArticleCooperVision Q3 sales down by 12%
CooperVision (CVI) saw a 12 percent drop in sales to $449.3 million in the third quarter of CooperCompanies’ financial year, which ended on July 31, and the division’s gross margin narrowed to 61 percent from 65 percent a year earlier owing to the impact of the Covid-19 pandemic. At constant ...
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ArticleEssilux to appeal Dutch court ruling on GrandVision
EssilorLuxottica has decided to file an appeal against a judgment dismissing its request for disclosure of information from GrandVision. The company repeated that it is concerned about GrandVision’s behavior in “continuing to deny access to important information” related to its handling of the Covid-19 outbreak. “Legal proceedings, including the appeal, ...
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ArticleExecutive Survey: Optical industry braces up for a difficult spring/summer 2021 season
The optical industry is expecting a significant decline in demand for spring/summer 2021 collections as the world economy still reels from the blow of the Covid-19 pandemic. Nevertheless, many are maintaining comprehensive collections and relying on digital tools to defend or develop their businesses, according to an executive survey carried ...
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ArticleTokyo IOFT confirmed, reaches out to international brands
Encouraged by the local industry’s support, a return to a normal level of retail activity and the fact that trade shows in other sectors have recently taken place in Japan, the organizers of the Tokyo IOFT eyewear show have confirmed that this year’s edition would take place as scheduled from ...
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ArticleEssilorLuxottica ready to pursue lawsuit against GrandVision after losing first round
Yesterday, a Dutch district court rejected EssilorLuxottica’s request to obtain information from GrandVision to determine whether the Dutch retailer had breached the terms an agreement in view of its takeover by Essilux. The court said that the large volume of corporate information that Essilux is seeking to obtain without specific ...
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ArticleSelfridges launches Project Earth
Selfridges has launched Project Earth, an initiative which explores “more sustainable ways to shop” by setting new sourcing standards and creating repair, resale and rental businesses. Under the scheme, the British department store pledges that by 2025 it will only stock products that respect its new sourcing standards on cotton, ...
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ArticleGerman optics industry calls for stripped-down free trade deal between U.K., EU
Spectaris, the German industry association for optics, photonics, analysis and medical technology based in Berlin, called for a “stripped-down” free trade agreement between the U.K. and the European Union to avoid the parties failing to strike a deal, which would lead to a so-called hard Brexit. “Better a stripped-down free ...
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ArticleAlcon’s Q2 vision care sales down 27% driven by contact lenses
In the second quarter of 2020, Alcon’s vision care division, which includes the contact lens and ocular health businesses, posted an 27 percent decrease in net sales to $596 million. At constant currency rates, the decline reached 25 percent and was primarily driven by lower demand and widespread closures, partially ...
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ArticleThai Optical Group to set up TOG Europe
Commenting on its second-quarter financial results, Thai Optical Group (TOG) announced that it will establish a new distribution center for Europe in Poland. According to the lens maker, the new structure is scheduled to be operational before the end of the year and will help to increase business opportunities in ...
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ArticleEssilux launches EssilorLuxottica 360 in the U.S. as group speeds up integration
Essilor and Luxottica, respectively the lens and frame subsidiaries of EssilorLuxottica, and Luxottica’s managed vision care unit EyeMed, created EssilorLuxottica 360, a new joint program that they claim will drive growth for independent eyecare professionals (ECPs) across the U.S. This is a concrete sign of further integration within the Franco-Italian ...
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ArticleEyewear market is strong on the Russian south
Sales on the Russian eyewear market are yet to recover to the pre-crisis level, but in some regions, the picture is better than in the others. For instance, the demand for eyewear in the Russian south, primarily in Krasnodar Krai, is higher than usual at this time of the year, ...
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ArticleABG, SPARC picked to buy Brooks Brothers for $325 million
The iconic American apparel group Brooks Brothers has selected Authentic Brands Group (ABG) and its partially owned retail unit SPARC as the winning bidders of a competitive sale process after they increased their offer to $325 million for the vast majority of the company’s global business operations as a going ...
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ArticleNew Look Vision enjoys brisk trade since re-start
New Look Vision, Canada’s largest optical retailer, posted a 64.9 percent decrease in revenues to 27.4 million Canadian dollars (€17.5m-$20.5m) in the second quarter, resulting principally from the Covid-19 related interruption, as well as scheduled store closures offset by revenue from newly acquired stores. By the end of the quarter, ...
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ArticleNational Vision returned to growth in June
National Vision’s second quarter net revenues fell to $260.0 million from $429.5 million a year earlier as comparable store sales contracted by a reported 44.7 percent and by 36.5 percent on an adjusted basis. Comparable store sales dropped by 83.9 percent in April and by 56.6 percent in May, but ...
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ArticleBausch Health to spin off its eye health unit
Bausch Health intends to spin off its eye health business into an independent publicly traded entity. It will be an integrated, pure play eye-health company built on the Bausch + Lomb brand. The timing of the spinoff is tied to certain conditions and approvals, including the reorganization of the reporting ...
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ArticleEssilorLuxottica has secured trade data held by GrandVision
EssilorLuxottica has secured information stored on servers managed by GrandVision in connection with legal proceedings involving the two companies. The Dutch eyewear retailer said that the measure was handled by an unamed independent third party. A backup of the information will be held by the third party until there is ...
