Latest Headlines – Page 77
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Krys Group outperforms in France
Apparently immune to the general depression of the French eyewear market, which went down by 1.4 percent in 2017 according to GfK, Krys Group has consolidated its retail leadership with an estimated market share of 14.6 percent, up by 0.5 point for the second consecutive year. The group has reportedly ...
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China should clear the Luxilor merger soon, but conditionally
Luxottica and Essilor have so far obtained clearance in 18 jurisdictions for their planned merger, including most recently the European Union, the U.S., Canada, Brazil and Singapore. Brazilian anti-trust authorities gave their unconditional approval last month, in spite of a challenge by Zeiss.China is the only country that still has ...
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Essilor performs in line with forecast
Essilor International grew by 3.2 percent organically in the first quarter of 2018, in line with the forecast previously formulated by the management, which confirmed a growth target of 4 percent for the full financial year, accompanied by a contribution from operations of 18.3 percent or more. ...
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Luxottica’s Q1 sales drop on currencies, weather, China
Luxottica posted a 10.7 percent decline in first-quarter revenues to €2,136 million, due to adverse currency rates, poor weather in Europe and the impact of the reorganization of its distribution network in China. Financial analysts were expecting sales of at least €2,170 million. At constant currency rates, sales were down ...
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Marcolin finished 2017 strongly
Addressing its bondholders, the Marcolin Group reported on a strong finish of its 2017 financial year. Sales jumped by 19.6 percent during the fourth quarter of the year, with a 25 percent jump in local currencies and double-digit growth in all the regions. Particularly strong performances were recorded by the ...
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Thélios inaugurates its Longarone plant
Thélios, the joint venture owned at 51 percent by LVMH and 49 percent by Marcolin, officially inaugurated on April 24 its head office and manufacturing facility, covering 8,000 square meters in Longarone, in the heart of the Belluno eyewear district. The plant, which has required an investment of about €20 ...
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Kering Eyewear brings Balenciaga in-house
Kering Eyewear is taking over from Marcolin the development, production and global distribution of sunglasses and prescription frames sold under Balenciaga brand name. The first Balenciaga collection under Kering Eyewear's supervision will be the spring 2019 one, which will be available in selected stores from January.This small fashion label, which ...
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Safilo trims production
Safilo has introduced temporary layoffs, financed by a governmental scheme called “cassa integrazione,” and imposed forced holidays on some its Italian staff as its Italian factories are working at 15 percent below capacity due to a slowdown in sales of its Christian Dior collection after a couple of years of ...
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Rodenstock reports record profitability
Strategic moves like the concentration of only two eyewear brands – Rodenstock and Porsche Design – allowed the German company to raise its operating income before amortization (Ebitda) by 8.8 percent to a record level of €82.3 million in the financial year ended last Dec. 31.Another factor was an increase ...
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J&J launches photochromic lenses
Johnson & Johnson has received clearance from the U.S. Food & Drug Administration (FDA) for the exclusive launch in the first half of 2019 of the world's first photochromic contact lens, which will using a dynamic photochromic filter based on Transitions Light Intelligence Technology. The new product, which will also ...
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Johnson & Johnson’s posts double-digit sales increase
Johnson & Johnson (J&J) has announced sales of $20.0 billion for the first quarter of 2018, which represent an increase of 12.6 percent as compared to the first quarter of 2017. Sales growth was experienced across all three of its sectors, which include consumer, medical devices - including vision care ...
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Alcon continues to record growth in both sales and income
Alcon posted sales of $1.8 billion in the first quarter of 2018, representing a 12 percent increase in dollars or a 7 percent increase in constant currencies, compared with the previous year's first quarter. Growth was recorded across all product categories. In surgical, sales growth was mainly driven by implantables ...
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Allergan outlines five different strategic options
During a first-quarter earnings conference call with investors, Allergan's chief executive, Brent Saunders, said that the company is “deep into the process” of its strategic review, which he outlined in a series of options. Allergan reported a revenue increase of 2.8 percent to $3.67 billion in the first quarter of ...
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Essilor and others want to help eradicate poor vision
Like other stakeholders inside and outside the eye care industry, Essilor International is engaging in a number of new initiatives intended to correct poor vision among low-income people around the world. Estimating that 2.5 billion people live with uncorrected poor vision, and that they could rise to 3.8 million if ...
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The big merger passes two big hurdles
The anti-trust authorities of the European Union and the U.S. gave their unconditional approval to the proposed combination of Essilor and Luxottica on the same day, March 1, leaving only the jurisdictions of Brazil and China to issue their verdict. The news led to an immediate increase in the share ...
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Essilor’s sales momentum is improving
While reporting on a strong end to the 2017 financial year, with an organic 5.1 percent increase in the fourth quarter, the management of Essilor International predicted that the group's sales will go up by around 4 percent in 2018, compared with last year's growth of 3.5 percent. The contribution ...
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Luxottica is bullish on profits but cautious about its sales
The group announced an increase of 11.3 percent in its net income to a record level of €1,038 million for the past year, benefiting from a boost of about €50 million from the Italian tax relief scheme on intellectual property known as “Patent Box.” The adjusted net profit grew by ...
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Safilo books a €251.6 million loss in 2017 following €192 million impairment
The change at the helm of Safilo (see Eyewear Intelligence Vol. 19 n. 2+3) has prompted a clean-up of the group's balance sheet, pushing its bottom line further into the red. The company booked a non-cash goodwill impairment charge of €192.0 million on its 2017 accounts as well as one-off ...
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Luxottica buys a Japanese factory
Luxottica has agreed to buy a 67 percent stake in a Japanese manufacturer, Fukui Megane, specialized in the production of titanium and solid gold eyewear frames. The acquisition will give the Italian group an industrial presence in the Fukui district of Japan, which is a international center of excellence in ...
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Bolon is in 1,500 doors in Europe
Using for the most part Essilor's own big sales network, Bolon, the medium-priced Chinese brand of optical frames and eyewear partly owned by the French group, is now available in 1,500 points of sale all over Europe since its launch in the region less than two years ago. It has ...
