All Retail articles – Page 7
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News briefs
National Vision and Pair Eyewear expand partnership
National Vision, the third largest optical retail group in the US, is expanding its exclusive partnership with Pair Eyewear, a brand of customizable eyeglasses and sunglasses for children and adults. After a successful test at approximately 100 stores earlier this year, National Vision will expand Pair Eyewear’s distribution through “store ...
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News briefs
Newsweek ranks US optical retailers’ customer service
Zenni Optical and Warby Parker respectively top the e-commerce and brick-and-mortar eyewear retail category rankings.
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ArticleUS business propels Fielmann topline over €1bn in H1 while price mix effects bolster margin gains
Driven by its US acquisitions and price-mix improvements, Fielmann Group has reported a double-digit revenue increase and significant margin improvements in H1 2024.
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ArticleSynsam posts record earnings in Q2
Nordics optical retail leader group Synsam has posted record earnings on a return to double-digit revenue growth for Q2 2024, driven by fast-growing eyeglasses and contact lenses’ subscriptions.
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ArticleNational Vision downgrades outlook after mixed Q2, announces stores fleet review and new president
Following lower-than-expected results for Q2 2024 and a downgrade of its full-year outlook, National Vision has announced a series of initiatives aimed at driving future profitable growth.
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News briefs
Kits Eyecare launches private label smart eyewear brand
Kits Eyecare, the Canadian-based online optical retailer, has announced the launch of the Pangolin Smart Glasses Line, its own brand of smart eyewear. The “smart” element in Pangolin glasses is limited to voice interactions that for example allow wearers to chat with their favorite AI chat tool, listen to podcasts, ...
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ArticleMister Spex founder and CEO steps down, former Luxottica manager takes key role
Effective July 31, 2024, Dirk Graber, founder of German-based retail group Mister Spex, is stepping down from his role as CEO of the company after the supervisory board accepted his request to be relieved from his duties. The announcement, which comes only a few months after the departure of former ...
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News briefs
JINS opens a subsidiary in Vietnam, upgrades financial outlook
Japanese-based retail group JINS has announced the opening of a subsidiary in Vietnam, scheduled for November this year, with an initial capital of approximately 440 million Japanese yen (€2.5m). The branch will focus on the development of JINS retail business in the country. The group’s first Vietnamese store is scheduled ...
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News briefs
Magrabi on track to almost double Doctor M network this year
In an interview with Arab News, Souha Hasan, Vice President of mainstrean business at the MAGRABI Retail Group, explained that the company is on track to open 36 new stores of its lifestyle direct-to-customer brand Doctor M in the course of 2024. This would bring the banner’s retail footprint to ...
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News briefs
Nau! opens made-to-measure eyewear store in Milan
The Italian optical retailer Nau! said it has opened its first store in Milan featuring its personalized Nau!Me eyewear. The store is located in Corso Buenos Aires, a central Milan shopping district. Nau!Me eyewear is produced in the company’s factory in Castiglione Olona in northern Italy. Nau! claims that its ...
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ArticlePrivate equity fund about to invest in Lunettes Pour Tous
Quilvest Capital Partners, a global investment fund with over $7 billion in assets under management, is in advanced talks for the acquisition of a significant share in French-based optical retail group Lunettes Pour Tous, according to a recent article by L’Informé, a French independent business news website. This followed an ...
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News briefsCione reviews 2023, looks forward through 2027
Cione Óptica y Audiología held its general meeting in June, as Look Vision reports.The Spanish buying group said that its membership rose by 50 opticians last year, reaching a total of 1,100 points of sale in Spain and 120 in Portugal. According to surveys conducted by Opinat, member satisfaction with ...
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ArticleDouble-digit growth puts Specsavers above the £4 bn annual revenue mark
Publishing its annual business review for its fiscal year ended Feb. 29, 2024, Specsavers has reported group revenue of £4.01 billion, up by 10.3 percent year-on-year at constant exchange rates. This marks a strong improvement from the previous fiscal year when sales were up by 5.6 percent. The performance also ...
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ArticleBacked by new investor, Vision Group aims for more acquisitions
London-based alternative asset manager ICG has agreed to purchase a 49.4 percent stake in the leading Italian eyewear retailer Vision Group as part of a management buyout, acquiring the roughly 46 percent stake held by former private equity group backer Arcadia along with shares from other unnamed investors. ICG will ...
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News briefsZenni adds contacts lenses
Zenni Optical, the online eyewear retailer, has added contact lenses to its selection. So far it is selling contacts from CooperVision and Bausch + Lomb but promises more to come. Customers can make their purchases daily, bi-weekly or monthly. First-time customers for contacts will receive a discount of 20 percent ...
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News briefs
Revo opens pop-up store in a wine shop in Dubrovnik
US sunglasses brand Revo has announced the opening of a new pop-up store in Dubrovnik, Croatia, in partnership with Lekri Winery, a local winemaker. The pop-up store will be open from April to October, coinciding with the high tourism season in Dubrovnik. The brand said it was planning to partner ...
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News briefsWalmart Health and Virtual Care to close
Walmart is closing down Walmart Health, with its 51 centers in five US states, and Walmart Health Virtual Care, the online operation. The business was inaugurated five years ago, in 2019. “There is not a sustainable business model for us to continue,” the company says in its press release,” because ...
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News briefs
Eyewish has a new managing director
Danny van der Voorden has been appointed general manager of Eye Wish Opticiens, the Dutch retail chain of Michael Pachleitner Group (MPG). A seasoned executive, van der Voorden boasts almost 20 years of experience in the optical industry during which he held senior management positions at GrandVision, OptiTrade, Ace & ...
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ArticleFielmann banks on US business and vision care services for mid-term growth
The final annual results for fiscal 2023 released yesterday by Fielmann Group confirm all preliminary results announced in February, notably the double-digit increase in external sales and consolidated sales versus 2022 and a significant rebound in profitability (see table below). Please refer to our previous report for more details on ...
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ArticleNew owner for Nexeye retail group
Global investment firm KKR will become the new majority shareholder of Nexeye, the Dutch-based retail group operating the Hans Anders, Eyes + More and Direkt Optik chains, acquiring it from 3i, another investment fund that owned the company since 2017. The agreement is subject to regulatory approval, but it does ...
