Latest Headlines – Page 60
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ArticleFielmann’s first-half sales drop to €611 million
Fielmann’s first-half sales declined to 3.1 million glasses from 4.1 million a year earlier, while consolidated revenues dropped to a preliminary estimate of €611 million from €758.2 million due to the impact of the Covid-19 pandemic. External sales, including value-added tax and inventory, slipped to €710 million from €884.4 million. ...
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ArticleHow are retailers managing excess stock in Covid-19 times?
Managing stock has always been a tricky part of any business. But it becomes even more so when demand evaporates overnight as occurred with the outbreak of the Covid-19 pandemic and the subsequent lockdowns worldwide, prompting manufacturers and retailers to be nimble and explore various different solutions.
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ArticleCovid-19 spurs rent renegotiations, partnerships
Retailers from Europe to the U.S. have sought rent relief as they reel from Covid-19 shutdowns and reopen stores faced with higher costs to meet health and safety requirements and uncertain sales prospects. Although some landlords have taken a hard line, many are trying to help keep retail tenants afloat ...
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ArticleOne thing is growing faster than online fashion sales: digital CMR
The Covid-19 pandemic has truly changed the rules of the fashion retail game, accelerating some trends that were already developing and leading to completely new scenarios that are testing the strengths of even the strongest brands. Digitilization is a major force in this scenario, but it is not growing fastest ...
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ArticleEssilorLuxottica sees first signs of recovery
EssilorLuxottica is seeing the “first signs of recovery” as lockdowns introduced worldwide to slow down the spread of the Covid-19 pandemic are lifted. In a prepared message delivered to shareholders at the company’s annual general meeting, the executive chairman Leonardo Del Vecchio and executive vice-chairman Hubert Sagnières indicate that the ...
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DaTE trade show plans to go ahead in September
The small Italian trade show DaTE, which in the past few years has been held in the second half of September in Florence, confirmed its intention to hold this year’s edition despite the Covid-19 health crisis. Mido, which is DaTE’s partner, is currently working on the event, but the decision ...
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Italian components group Margot looks to grow
Margot, an Italian group that makes metallic components for luxury leather goods, shoes and eyewear that is controlled by the private equity Mandarin Capital Partners, is looking to expand with an acquisition in the third or fourth quarter of this year, says Andrea Tuccio, a partner with Mandarin. The aim ...
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French customers maintain their eyewear purchase intentions
Six weeks after the lockdown restrictions were lifted in France, a new opinion poll of French customers by Opinion Way for Gifo, the national eyewear industry association, broadly confirmed the trends observed in the initial survey about a month ago. Less than 3 percent of the 1,537 respondents said they ...
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ArticleCovid-19 keeps Silmo on its toes
The organizers of Silmo Paris have announced that, in spite of the uncertainties caused by the Covid-19 pandemic, about 700 exhibitors representing 80 percent of the exhibition space have already confirmed their participation in the next edition, scheduled for Oct. 2-5. Last year, the French show hosted 970 exhibitors and ...
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ArticleItalian eyewear exports seen down 25% in 2020
Exports of Italian eyewear are expected to fall by 25 percent, or nearly €1 billion, this year after dropping an estimated 41 percent, or over €850 million, in the first half and are forecast to drop by 7 percent, or some €130 million, in the second part of the year ...
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ArticleRinascente launches its online store
Italian upmarket retailer Rinascente, one of the major department store chains in the country, made its e-commerce debut with a dedicated website. The online store features 15,000 products from 650 brands in all product categories, spanning fashion, accessories (including Italian and international footwear and eyewear brands), beauty, food and design. ...
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ArticleRodenstock completes a €75 million capital increase
Rodenstock has obtained funds from its shareholders to finance its development while its business is recovering faster than expected from the coronavirus crisis.
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ArticleItaly considering a €50 voucher to buy eyeglasses, contact lenses
The Italian government is expected to examine a proposal put forward by the non-profit organization Commissione Difesa Vista (CDV) to distribute by the end of the year to Italian taxpayers a €50 voucher to buy eyeglasses or contact lenses. CDV promotes vision and eye health and was founded by trade ...
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ArticleGrandVision sales in reopened stores drop by 13% early June
GrandVision is enjoying a recovery in sales as its stores reopen, but the company has noted that consumers are continuing with e-commerce purchases, especially for contact lenses.
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Two large Italian retailers obtain government-guaranteed loans
The Italian retailers OVS and Rinascente have obtained government-guaranteed loans as part of the so-called liquidity decree to support large companies affected by the Covid-19 pandemic. The measure applies to firms with more than 5,000 employees in Italy and annual revenues above €1.5 billion. Economy Minister Roberto Gualtieri agreed to ...
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Safilo’s credit rating downgraded to B3 by Moody’s
Like many other companies, Safilo is seeing its credit rating cut because of the impact of the coronavirus. But, the eyewear manufacturer was already weakened prior to the health crisis by the loss of the Dior license and a further downgrade is a possibility.
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L’Amy gets protection from creditors
L’Amy, one of the oldest eyewear manufacturers in France, has requested and obtained bankruptcy protection from its creditors. Philippe Jeannerot, the court-appointed receiver, said it is waiting for the presentation of a restructuring program, but he denied a report that its shareholders may be looking for a new investor in ...
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Hapter may set up a direct-to-client channel in countries not covered by its network
Hapter, the high-end Italian manufacturer that retails it products at €400-500 a pair, is considering the possibility of setting up a direct-to-client sales channel in countries not covered by its network of agents and distributors.
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CooperVision sees Q3 sales fall after 17% decline in Q2
CooperVision (CVI)’s sales in the second quarter ended on April 30 fell by 17 percent to $402.2 million, as the business highlighted “unprecedented” challenges tied to Covid-19 and the management warned that third-quarter sales could contract by 15 to 20 percent. The parent company CooperCompanies withdrew its full-year guidance due ...
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ArticleMarcolin Q1 sales drop by 28% on Covid-19 impact
In the first quarter of 2020, Marcolin’s revenues fell by 28.0 percent to €93.5 million due to the impact of the Covid-19 pandemic. At constant currency rates, the decline reached 28.6 percent. In January and February, the company was moderately affected by the shutdown of its Chinese suppliers, which are ...
