Latest Headlines – Page 65
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Safilo continues to grow
The Safilo Group improved its profitability and continued its sales growth in the third quarter, beating market expectations by about €3 million, despite another case of problems with logistics. A few years after a delay in European deliveries due to the slow ramp-up of a new distribution center near its ...
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Safilo cuts 700 jobs in Italy
Safilo announced 700 job cuts at its Italian operations, to be completed next year as part of its efforts to downsize its manufacturing base with the forthcoming loss of three important LVMH-owned licenses: Dior, Fendi and Givenchy. The group claims that their eyewear is entirely made in-house.The three brands represent ...
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Worries about employment in Italy
On Nov. 15, the regional government of Veneto held the “estates general” of the local eyewear sector in the industrial cluster of Longarone, in the Belluno province of Italy, to discuss the challenges the sector is facing. The meeting was well attended, with the presence the heads of Safilo, Thélios, ...
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Marcolin evaluates a move into retailing
Safilo has stopped its loss-making retail activities, selling off its Solstice chain in the U.S., but the Marcolin Group has reportedly warmed to the idea of owning a retail activity, following the examples of Luxottica and De Rigo Vision. With the planned takeover of GrandVision by EssilorLuxottica, the verticalization of ...
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L’Amy goes high-tech
Transitions Optical had a big, immersive stand at the Silmo Paris fair in September to showcase its new Generation 8 line of “intelligent” photochromic lenses, which darken up to 30 percent faster than the previous generation. In a much humbler way, the L'Amy Group showcased a much faster photochromatic technology ...
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Essilux places €5 billion in bonds, issues shares to more employees
EssilorLuxottica has placed €5 billion worth of medium to long-term bonds with very low interest rates, meeting strong demand from investors. The proceeds are meant to enable the group to finance the planned acquisition of GrandVision and to refinance its debt.The demand exceeded €13 billion, prompting the group to increase ...
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Essilor is recognized as a Diversity Leader
Essilor has been awarded the title of “Diversity Leader 2020” by the Financial Times (FT). The French eyewear group ranked 62nd out of a total of 10,000 companies in the FT’s new annual ranking of diversity and inclusion in the workplace. The assessment covered the companies’ achievements in multiple types ...
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A Revo sunglass fetches $1,650 in an auction
The first pair of a limited edition of Moonwalker Zero G sunglasses – serial number 001 – produced by Revo has been sold at an auction for $1,650. The auction ended at 3:58 p.m. (Eastern Standard Time) on Nov. 24: the to-the-minute 50th anniversary of Apollo 12's blast-off from the ...
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Rudy Project sponsors American Magic, diversifies
Besides sponsoring many other sports events and numerous champions and teams in a wide range of sports, including cycling, running and skiing, Rudy Project is going to have special visibility as an official supplier of the New York Yacht Club American Magic, one of the U.S. challengers in the 36th ...
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Alcon performs better
Alcon reported total sales of $1.8 billion for the third quarter, up by 4 percent on a reported basis and by 6 percent on a constant-currency basis.The operating margin improved to a still negative rate of 1.0 percent from 16.0 percent and the core operating margin widened to 17.4 percent ...
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Everything ready for Opti 2020 in Munich
Next year's Opti show, to be held on Jan. 10-12 in Munich, will host over 600 exhibitors. It will once again occupy six halls, from C1 to C6, but visitors will for the first time be able to use the northwest and northeast entrances.Newcomers to the show include Brando Eyewear ...
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Vision Expo gets a makeover
In partnership with Reed Exhibitions, The Vision Council has “reimagined” its Vision Expo and will be raising the curtain on new ideas at Vision Expo East, scheduled to be held in the Javits Center of New York on March 26-29, 2020. The show will be updating its exhibition spaces and ...
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Germany remains the biggest importer in Europe
According to the latest report on European trade flows published by Spectaris, the German ophthalmic optics industry association, Germany was once again the European Union’s biggest importer of ophthalmic optics products in 2018, reaching a level of €1.43 billion. France remained in second place with an import value of €1.38 ...
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A $14 billion investment could eliminate poor vision globally by 2050
A new report by Essilor International – entitled “Eliminating Poor Vision in a Generation: What will it take to eliminate uncorrected refractive errors by 2050?” – suggests that the global issue of uncorrected refractive errors (poor vision) can be eliminated through a total investment of $14 billion over the next ...
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Better-than-expected revenues for EssilorLuxottica
EssilorLuxottica – alias Essilux – reported revenues for the third quarter that exceeded its guidance, and confirmed its objectives for 2019. They jumped by 8.4 percent to €4,310 million on a pro-forma basis, with growth of 5.2 percent in local currencies, which was above a previously set annual objective of ...
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Good quarter for GrandVision
Boosted by a growth of 4.6 percentage points from acquisitions, GrandVision's revenues for the third quarter jumped by 10.1 percent to €1,045 million, or by 9.7 percent in constant currencies. Comparable sales advanced by 4.0 percent from the year-ago quarter, while organic growth reached 5.1 percent. However, the Ebitda margin ...
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A good quarter overall for Hoya
Sales of eyeglass lenses grew by 4 percent on a comparable basis at Hoya Corporation in the second quarter of its financial year, ended on Sept. 30, driven by markets in Europe and Asia, but they were down slightly in terms of yen due to foreign currency translations. On the ...
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Direct Optic broadens its scope to hearing aids and pharmacies
Direct Optic, a French budget-priced optical retailer, is stepping up its expansion and is eyeing possible acquisitions. It is making a big push in the area of hearing aids and setting up counters in pharmacies, following a business model that is less in use in France than in other countries ...
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Kering Eyewear extends Gucci deal with Safilo
Safilo's share price made a big jump at the beginning of October, after a report indicating that Kering Eyewear was interested in taking over the company to give it the capacity to manufacture glasses under the Gucci brand and others in its portfolio. Denying the report, Kering Eyewear subsequently announced ...
