The latest news, analysis and data on corporate strategic initiatives, the latest mergers and acquisitions, IPOs, insolvencies and cooperations in the eyewear industry.
EssilorLuxottica wearables chief steps down
Rocco Basilico, Chief Wearables Officer at EssilorLuxottica, will be leaving the group at the start of next year, Reuters revealed on Monday. The information was confirmed to the press agency by EssilorLuxottica: “After six years supporting our smart eyewear journey, Rocco Basilico has decided to pursue his personal interests outside ...
MICROOLED smart eyewear business taken over by former CEO and founder
MICROOLED’s former CEO has taken over the company’s smart eyewear brands ActiveLook and Engo to focus exclusively on AR sports glasses, while the French microdisplay manufacturer refocuses on B2B markets including defense and medical equipment and raises more funds.
ZEISS leverages vision care synergies in smart eyewear, ophthalmology
ZEISS has announced the creation of a new strategic business unit called ZEISS Extended Reality which, combined with ZEISS Vision Care, will make up the group’s Consumer Markets segment. Established last month, ZEISS Extended Reality will unite in one division the different teams that have been working on extended reality ...
Inspecs takeover talks extended with current highest bid at £85m
Private equity seems to have an edge in the negotiations but Safilo is reviewing its options. The UK-based eyewear group has also announced a trading update that forecasts a 4 percent decline in annual revenue.
Paris Miki main stakeholder to delist the company through an MBO
The tender offer by the founding family fund values the company at approximately 33 billion yen (€182m). The plan is to restructure the retailer’s domestic and overseas businesses after a decade of revenue stagnation and low or negative profit margins.
Alcon Q3 CL sales grow 6%, sees STAAR deal as attractive but not essential
Alcon generated $707 million in contact lens sales in the third quarter ended Sept. 30, up by 6 percent compared to the year earlier, as growth was driven by product innovation and price increases, partially offset by declines in legacy products. At constant-currency rates, sales were up by 5 percent.
Lenskart’s 240x earnings valuation raises some eyebrows
Indian eyewear retailer Lenskart’s IPO was oversubscribed 1.70 times after the second trading day, with institutional investors including Singapore’s government and Norway’s pension fund participating in a €710 million offering that values the company at €6.8 billion.
Allsides set to open NY flagship as it expands capacity, fine-tunes scanner technology
Allsides, an Italian 3D scanner startup that is also active in the eyewear sector, is planning to open new scanning centers in the US, Europe and Asia in coming months and is working to fine-tune its technology, which is rooted in the application of artificial intelligence to images.
Investor pressures Inspecs for sum-of-the-parts deal
First Seagull, a Norwegian investor holding a 5.5 percent stake in Inspecs Group, is pressing the UK-based eyewear group to prioritize a sum-of-the-parts divestment of its business in a letter sent to the company’s board on Oct. 24. The move follows the announcement by Inspecs last week that it had ...
Aspiring smart-glasses producer raises $250m
The start-up known as Sesame, or Sesame AI, has raised $250 million in Series B funding, according to TechCrunch. The round was led by Spark Capital and Sequoia Capital, with undisclosed other investors taking part.