Latest Headlines – Page 83
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Luxottica prepares its 4th revolution with digital stores
Luxottica is preparing its fourth revolution with the widespread use of digital technology in its own and third party stores. The group's previous milestones in its development strategy were the attribution of the Armani license in 1988, the purchase of LensCrafters in 1995 and the acquisition of the Ray-Ban brand ...
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LensCrafters maintains one-hour service for single-vision glasses
Luxottica is pursuing its efforts to reduce the size of LensCrafters locations in the U.S. by removing in-store laboratories and servicing the points of sale from central laboratories. But tests have shown that, while LensCrafters can shift the bulk of lens orders to the central laboratories, single-vision customers remain attached ...
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Safilo starts to recover from its logistic disruption
The Safilo Group's revenues fell by 9.8 percent to €315.3 million in the second quarter and by 15.1 percent to €552.6 million for the first half of the year, mainly due to delayed shipments from its distribution center in Padua, whose upgrade has taken longer than expected. They were also ...
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GrandVision’s profits dip due to new French legislation
GrandVision missed earnings forecasts for its second quarter, largely due to the implementation of French legislation that has imposed ceilings on health insurance reimbursements. The company's adjusted core profits dropped by 6.4 percent to €140 million, well below a consensus estimate by financial analysts of €155 million.Moving forward, the management ...
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Optical counters in Italian supermarkets
The number of optical retail counters in the supermarkets affiliated with Coop Alleanza 3.0 is set to grow from 21 to 33 at the end of this year, and to 70 by the end of 2018. Italy's leading voluntary group has already struck agreements with major suppliers including Essilor and ...
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A new board for Italy’s eyewear association
Giovanni Vitaloni has been elected as the new president of Anfao, the Italian eyewear industry association, taking the place of Cirillo Marcolin for the next four years. He is also taking over the chairmanship of Mido, the international trade show in Milan, which he was overseeing as a vice president ...
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New Look Vision acquires Iris
The New Look Vision Group has agreed to acquire all of the issued and outstanding shares of Iris, Le Group Visuel (1990). Iris will operate as a stand-alone business unit within the New Look Vision Group. The acquisition is to reinforce New Look Vision's position as the largest Canadian optical ...
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J & J posts double digit sales growth
Johnson & Johnson (J&J)'s Vision Care division saw U.S. sales increase by 63.6 percent in the second quarter versus the second quarter last year. International sales increased by 48.7 percent to $650 million. The figure includes the impact of the recent purchase of Abbott Medical Optics, which contributed 5.1 percent ...
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Alcon’s contact lens sales grow for the fifth consecutive quarter
Novartis reported sales for its Alcon eye care business of $1.5 billion in the second quarter, up by 3 percent versus the same period a year earlier. Surgical sales grew by 3 percent, driven by the strong increase of cataract consumables and the return to growth globally of intraocular lenses. ...
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Google redesigns Glass for workers
Google is releasing a re-engineered version of Glass specifically designed for use in the workplace. Workers in logistics, manufacturing, healthcare or other fields may find it useful to be equipped with a wearable device for information and other resources while their hands are busy. Google halted sales of Glass Explorer, ...
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Afflelou and Optic 2000 plan to sell glasses in pharmacies
The optical retail market in France was virtually flat last year at around €6.7 billion, according to the French trade magazine Bien Vu, and for the first time in many years, the number of optical stores declined by 0.1 percent. However, with 12,739 points of sale at the end of ...
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Optic 2000 adjusts strategy in a tough French market
The French voluntary group reported last week an increase of 1.8 percent in retail sales to €905 million including VAT for its eponymous Optic 2000 banner in 2016, which consolidated its leadership in a stagnant French optical market by reaching a share of 13.5 percent, according to an estimate by ...
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Big drop in Safilo’s quarterly sales
Safilo's revenues slumped by 21.3 percent to €237.3 million in the first quarter due to delayed shipments from its logistics center in Padua, whose upgrade is taking longer than expected, and the end of the company's important licensing agreement with Gucci. At constant currency rates, revenues were off by 22.8 ...
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S&P confirms Safilo’s ‘B+’ rating
The U.S. rating agency Standard & Poor's confirmed its “B+” credit rating for Safilo, with a stable outlook. S&P subsequently withdrew the rating at Safilo's request. Safilo explained that the decision was motivated by cost containment and streamlining and that it will continue to be assessed by S&P's peer, Moody's. ...
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Safilo risks losing another important license
After the early termination of the Gucci license last year and LVMH's decision to pick Marcolin as its new eyewear partner, Safilo faces the risk of losing the Kate Spade license, its largest eyewear brand in North America. On May 8, Coach, the American leathergoods company, said that it had ...
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Higher sales but lower margins for De Rigo
De Rigo's consolidated sales rose by 2.6 percent in 2016 to €413.6 million, with a 2.4 percent increase in constant currencies. The company's operating earnings before amortization (Ebitda) declined by 6.3 percent to €29.8 million, representing an Ebitda margin of 7.2 percent, due to a sales decline on a comparable ...
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Marcolin forms a joint venture in the Middle East
The Marcolin Group announced a new joint venture in the Middle East with its former exclusive distributor in the region, the Rivoli Group, which is one of the largest retailers of luxury products in the Middle East. Marcolin will have a controlling stake of 51 percent in the joint venture, ...
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Kering Eyewear’s “made in” label is challenged
Kering Eyewear is the target of a lawsuit brought by a U.S.-based retailer and wholesaler specializing in luxury eyewear, Selima Optique, with four stores in the New York area and one in Paris, which is questioning the origin of its products. Inviting others to join in the complaint, filed on ...
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New moves in the Essilor-Luxottica merger
The merger of the two giants of the ophthalmic optic industry is proceeding as planned, moving toward its completion by the end of the year provided it is endorsed by anti-trust authorities. An overwhelming majority of Essilor International's shareholders approved the terms of the transaction at their general assembly last ...
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Hoya Lens’ profits decline
The profitability of Hoya Corporation's eyeglass lens business declined in the fourth quarter of its latest financial year, ended on March 31. The management attributed this to price pressure in the market due to the acquisition of smaller chains by larger chains as well as the partial success of certain ...
