All Synsam Group articles
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ArticleSynsam wraps up another double-digit growth fiscal year
Synsam Group has reported a 7.7 percent year-on-year increase in revenue to 1,479 million Swedish crowns (€132 m) for the last quarter of fiscal 2023, slowing down slightly from the previous quarter when sales rose by 9.9 percent. On an organic basis, excluding acquisitions, currency effects and franchised stores, quarterly ...
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ArticleSynsam improves margins, expands EyeView roll out
For the first time since the company went public in October 2021, Synsam Group fell short of reporting a double-digit increase in quarterly sales, however not by much as the group’s topline grew by 9.9 percent year-on-year to 1,450 million Swedish crowns (€127m) in Q3. While this confirms the company’s ...
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ArticleSynsam posts another record quarter
Synsam Group has reported another quarter of double-digit revenue growth as sales for the quarter ended June 30 reached a record 1,566 million Swedish kronor (€132 m), up by 12.0 percent compared with Q2 2022. This however marks a deceleration from the previous quarter when they grew by 19.0 percent ...
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ArticleSynsam frames production reshoring delivers 32% CO2 reduction (LCA)
In its annual sustainability report released a few weeks ago, leading Nordics retailer Synsam Group published an initial comparative life cycle analysis (LCA) between acetate frames produced in its newly opened Swedish factory and similar frames manufactured by its Asian suppliers. When it announced the construction of a 6,000 square-meter ...
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ArticleSynsam keeps growing but adjusts to tougher market
Reporting its results for the fourth quarter of 2022 and the full year, leading Nordic retailer Synsam Group said that its double-digit revenue hike resulted in market share gains in a challenging market environment. The company’s growth pace is however slowing down and profitability declined sharply year-on-year on strong network ...
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ArticleSynsam keeps double-digit sales’ growth pace but profit ratios decline
Reporting on its performance during the third quarter of 2022, the Synsam Group said that it increased its market share in a weak consumer market, with sales growing double-digits, and that it continued to invest for future growth, which led to a reduction in profit ratios. Total sales were up ...
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ArticleSynsam keeps up growth as Swedish factory comes online
Sales at the Synsam Group in the second quarter of 2022 increased by a reported 15.3 percent to 1,399 million Swedish crowns (€132.4m), a result the company highlighted was achieved in a competitive market for recruiting opticians, particularly in its home market of Sweden but also in Norway and Denmark. ...
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News briefsSynsam returns production to Sweden
Synsam has opened what it calls the first large-scale factory for eyewear frames in the Nordics. The Production and Innovation Center results from the group’s decision in 2020 to shift production from China back to Sweden. To achieve this objective it has refurbished the air flotilla’s Hangar 90 at Frösö ...
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ArticleEyewear companies stocks down by 17% in Q2
Contrary to other sectors such as energy, aerospace, defense or agriculture, which saw their stock value increase significantly in the last few months, the eyewear industry was not among the beneficiaries from the move of global money away from investments in Big Tech companies. Indeed, the 23 eyewear public companies ...
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ArticleSynsam maintains growth pace, ramps up Swedish factory
The Synsam Group has reported a 14.7 percent year-on-year sales increase for its first quarter in 2022, with total revenues reaching 1,186 million Swedish crowns (€111.8m). The retailer’s performance was in line with the 14.0 percent growth reported for the previous quarter. Q1 2022 sales were up by 12 percent ...
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ArticleEyewear industry stock prices down 13% in Q1
The first quarter of 2022 was the worst quarter for global equity markets since the first quarter of 2020 when the Covid-19 pandemic started spreading worldwide, leading to travel restrictions and lockdowns and prompting stock markets to collapse in March. Since the start of this year, the U.S. equity market ...
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ArticleSynsam posts all-time high annual sales and profits
Swedish-based retailer Synsam Group reported a 14.0 percent year-on-year increase for the last quarter of its financial year, with total revenues totaling SEK 1,245 million (€117.0m). Like-for-like growth for the period was 10.2 percent. Although the quarter saw a deceleration from the previous quarter’s 21.0 percent sales’ increase, the company ...
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ArticleTop 5 eyewear companies’ stock prices up 4.6 % in Q4
We are updating here our quarterly chart on the evolution of stock prices for the public companies in the eyewear market, including manufacturers, distributors or retailers of contact lenses, prescription lenses, eyeglasses and sunglasses. We are also publishing a ranking of these 22 companies based on their stock market value. ...
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News briefs
Synsam Group appoints CEO for its new factory
Ida Geiler is to become CEO of Synsam Group’s Production and Innovation Center on Jan. 3. Located on the island of Frösön, west of Östersund, the center is scheduled to complete construction in this spring. For the past year and a half Geiler has been project manager for Synsam’s Made ...
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News briefs
Synsam opens new flagship store
Synsam, the Swedish-based optical retail group opened on Dec. 22 a new flagship store in the center of Stockholm. The new shop, which is reportedly the largest in the Nordics, spreads over 900 square meters and reportedly offers customers the possibility to select their frame among a large selection of ...
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ArticleSynsam growth driven by subscription plans
Publishing its first quarterly results since its listing at the Nasdaq Stockholm stock exchange at the end of October, the Swedish-based retailer Synsam has announced significant sales increases across the board and profitability improvements. Double-digit hikes in both organic and like-for-like sales, the expansion of the group’s stores network footprint ...
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News briefs
EssilorLuxottica invests in Synsam too
EssilorLuxottica has become the second largest shareholder of Synsam, following the retailer’s Initial Public Offering (IPO) as the Nasdaq Stockholm stock exchange. EssilorLuxottica, which was not listed as a major investor in the Swedish company’s prospectus, purchased about 10 million shares, corresponding to a participation of 6.6 percent. The investment ...
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ArticleSynsam targets €690-€840 million valuation
Synsam, the leading optical retailer in the Nordics which recently declared its intention to go public, published its Introduction Public Offering (IPO) prospectus yesterday and announced that the first day of trading at the Nasdaq Stockholm stock exchange is scheduled for next Oct. 29. The complete document is available in ...
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ArticleSynsam builds new plant as it moves production to Sweden
Synsam plans to move eyeglass production from Asia to Sweden next year. The project involves the construction from scratch of a new factory that the company claims will focus on sustainable production. The facility is scheduled to be completed in autumn of 2021 in the town of Ockelbo. ...
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Article
Higher sales and profits for Synsam
The Synsam Group reached a turnover of 3,741 million Swedish kronor (€350.7m-$387.4m) last year, up from SEK 3,380 million in 2018. The adjusted operating profit amounted to SEK 984 million (€92.3m-$101.9m) a big increase from SEK 643 million in the previous year. In addition to the opening of new ...
