Latest Headlines – Page 61
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Japan exits state of emergency cautiously
After lifting a mild state of emergency, which enabled smaller retailers to remain open, Japan is cautiously turning back to normal but the eyewear industry remains under pressure.
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ArticleTwo-speed restart in France after coronavirus crisis
Lens manufacturers are enjoying a strong recovery on the French market, while frame manufacturers are experiencing a slower restart as cash-strapped opticians delay reassortments.
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Cecop moves into North America
Cecop, the international buying group based in Madrid, has entered the Northern American market, acquiring 600 new retail members in the region through its takeover of the Combine Buying Group, an organization that provides various services to independent opticians. Based in New York, the American buying group previously belonged to ...
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Safilo completes the acquisition of Blenders and boosts its e-commerce business
Safilo has completed the acquisition of a 70 percent stake in the Californian company Blenders Eyewears, bringing in house a high-growth business and skills to further develop its e-commerce activity.
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ArticleItalia Independent lowers its forecasts until 2023
Italia Independent has revised downwards its business plan though 2023 due to the impact of the Covid-19 pandemic. It now expects to post sales of about €40 million in 2023 compared with a previous estimate of €42 million in the business plan approved in November 2019. The revenues are projected ...
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ArticleWGSN sees three major consumer groups emerging from the crisis
The coronavirus pandemic has accelerated societal changes and is forcing industries worldwide to adapt to the resulting changes in consumption, and WGSN has set out to predict what consumers will be looking for in the next couple of years.
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Macy’s’ credit rating downgraded to ‘BB’ by Fitch
Macy’s credit rating was cut by Fitch, as, like many other American department stores, the retailer suffered from coronavirus-related lockdowns. EssilorLuxottica’s unit Luxottica is present in Macy’s’ network with its LensCrafters and Sunglass Hut banners.
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ArticleEssilorLuxottica’s bonds generate huge demand
EssilorLuxottica experienced huge demand for its bonds from institutional investors, enabling it to increase the size of the placement and lower the annual interest rates it will pay. The company enjoys a strong balance sheet and has an ‘A’ credit rating from S&P and an ‘A2’ rating from Moody’s. The ...
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Luxottica joins forces with Padua university to manage Covid-19
Luxottica is intensiving measures to combat Covid-19. A new protocol, including blanket testing and sensors to maintain and monitor social distancing, is being implemented in Italy and will be extended to all of its facilities worldwide.
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Fielmann buys 10% stake in a provider of wearables, augmented reality solutions
Fielmann is further pushing its digital agenda thanks to an alliance with Ubimax, a provider of computing technologies and augmented reality solutions. Tightening its strategic partnership with Ubimax, it has purchased a 10 percent stake in the company through a capital increase. The acquistion was carried out by Fielmann ...
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Mido4u attracts over 10,000 visitors in a couple of month
The organizers of Mido launched Mido4u.com, a B2B digital platform set up to compensate for the cancellation of Mido’s 2020 edition because of the Covid-19 pandemic. But in over two months, it has attracted less than a fifth of the fair’s attendance.
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Facebook wants to become a shopping platform
In response to the current corona crisis with the worldwide closure of many physical shops, Facebook has started to integrate a shopping function into its main social network, as it has already been doing on Instagram. Mark Zuckerberg, founder and chief executive of Facebook, said in a livestreamed video on ...
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Zeiss claims a higher market position in eyeglass lenses
In reporting its results for the first half of its financial year, ended on March 31, Carl Zeiss said it expanded its position in the market for eyeglass lenses. Without breaking down the figures, it said that the Vision Care division saw growth during the period, but gave no details. ...
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Visa witnesses “massive” surge in e-commerce use
Confirming other studies showing that the Covid-19 pandemic and subsequent lockdowns have spurred online sales, the financial services company Visa said that it is seeing a “massive acceleration toward e-commerce adoption.”
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Blackfin expects it will take one year for the market to stabilize
The high-end Italian brand Blackfin expects the market will take a year to recover from the blow of the Covid-19 pandemic. Despite, the ongoing talk that the crisis will favor the digitalization of the economy, the company prefers to continue relying on human contact to serve its clients.
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Ferragamo enjoys strong recovery in China
The Italian fashion house Salvatore Ferragamo is experiencing a strong recovery in sales in China as the situation in the country returns to normality after the Covid-19 outbreak and subsequent lockdown, according to chief executive Micaela Le Divelec Lemmi. Marchon is the licensee of the brand for eyewear.
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Richemont enjoys strong demand in China but warns that Covid-19 impact may last
As China has become the bellwether on how fast an economy can recover from the Covid-19 crisis, Richemont pointed out that it is currently enjoying strong demand in the country. Nevertheless, it warned that the impact of the virus on the global economy may last a long time.
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French customers’ purchasing intentions remain unchanged despite Covid-19
A large majority of French customers still have the same purchasing intentions and related budget for eyeglasses and sunglasses, in spite of the coronavirus crisis. This is the main result of an opinion poll conducted last week by OpinionWay, commissioned by GIFO, the French optical industry association.
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The EU further extends deadline for Essilux-GrandVision probe
The European Commission has pushed back to Aug. 13 the deadline for completion of its in-depth anti-trust investigation into EssilorLuxottica’s planned takeover of GrandVision, according to a filing on its website.
