All Eyewear Intelligence articles in Volume 21 No. 13-14 – Page 2
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News briefs
Kaibosh to release vintage-style collection with Bergans
It all started with the Instagram account of Norway’s National Library, which posted a newspaper ad from the 1930s showing that Bergans of Norway once made eyewear. Someone at the company noted a resemblance to his wife’s pair of Kaibosh glasses. And so a collaboration was born. The Kaibosh x ...
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News briefs
Acuitis recycles fishing nets into sunglasses
Acuitis, the French chain of optical and hearing-aids’ shops, has released a small range of sunglasses in partnership with two companies based in the French Brittany region: the apparel brand Armor Lux and Fil & Fab, a start-up specializing in the recycling of fishing nets. After being collected and sorted, ...
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News briefsYoox, Armani lay out a new distribution model
Yoox Net-a-Porter (YNAP), the fashion online retailer owned by the Swiss luxury group Richemont, is creating with the Italian fashion group Giorgio Armani a new distribution model that will further the partnership between the two companies that have been working together for 20 years. Under the new agreement, which will ...
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ArticleCirillo Marcolin takes over presidency of Confindustria Moda
As planned, Cirillo Marcolin has taken over the rotating presidency of Confindustria Moda, the umbrella organization of the Italian fashion industry, replacing Claudio Marenzi. Confindustria Moda comprises Sistema Moda Italia (SMI), which groups the textile and apparel firms operating in the country; Assocalzaturifici, the shoemakers’ association; Assopellettieri, formerly called Aimpes, ...
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News briefs
Global bankruptcies may rise by 35% over 2 yrs
Global corporate bankruptcies are expected to rise by 35 percent in 2021 compared with 2019 because of the Covid-19 pandemic, representing an average annual compound growth of 16 percent in 2020 and 2021, an annual average similar to the one seen during the 2007-2009 crisis, according to a study from ...
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Article
Big drop in revenues drives Sun Hing in the red
Sun Hing, the Hong-Kong based eyewear company, registered a sharp drop in revenues for its financial year ended on March 31, with overall sales of 912.8 million HK dollars (€102.9m-$117.7m), down by 25.5 percent from HK$ 1,223.9 million a year earlier. Gross profit margin was down by 4.1 percentage points ...
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ArticleThe Russian eyewear market is recovering but the outlook remains bleak
After having slumped by 30 percent year-on-year in the first five months of 2020, based on data released by the research institute GfK, the Russian eyewear market is showing signs of recovery, although the pace varies from region to region and the outlook remains bleak, according to Victor Gordeychyuk, ...
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News briefsPrada appoints Christopher Bugg group communications director
Prada has appointed Christopher Bugg as communications director for the group and will report to Lorenzo Bertelli, the Italian fashion group’s head of marketing. Bugg joined the group in January 2020 as Prada’s marketing and communication director for Asia. Previously, he was the global digital communications director at Louis Vuitton ...
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ArticleEssilorLuxottica sues GrandVision over Covid-19 disclosure
EssilorLuxottica has initiated legal proceedings before a district court in Rotterdam to obtain information from GrandVision regarding the management of its business during the Covid-19 pandemic and the extent to which it has allegedly ”breached its obligations under the support agreement.” The Franco-Italian eyewear company, which made a €7.2 ...
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Article
Antares eyes distressed Italian fashion assets
Italian private equity and debt-management group Antares is launching a new fund targeting investments among the country’s small and mid-sized financially-struggling fashion companies, whose ranks have grown with the Covid-19 pandemic. Antares has already raised €50 million in fresh cash for its “luxury and lifestyle” turnaround fund, largely with Italian ...
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Article
JINS’ revenues down by 38 percent in Q3
Revenues were down by 37.8 percent year-on-year to 10,303 million yen (€84.2m-$96.2m) in the third quarter ended on May 31 for JINS, the Japanese-based low-cost optical retail chain. The company, which was able to maintain a good momentum in the previous quarter, was more severely hit in the third quarter ...
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ArticleUK industry unites around 100% Optical after Optrafair cancellation
The Federation of Manufacturing Opticians (FMO), together with the show organizer MA Exhibitions, have decided to cancel Optrafair 2020, which was due to take place Sept 19-21, at the National Exhibition Centre in Birmingham, England, due to the continued uncertainty surrounding events as a result of the Covid-19 pandemic. FMO ...
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News briefs
Kubota Vision tests myopia-preventing smart glasses
Kubota Vision, the American subsidiary of the Japanese-based Kubota Pharmaceutical Holdings, last month enrolled its first patient for a clinical study aimed at controlling the development of myopia. Two months ago, the company reported positive results on a first research where myopically defocused images were projected by electronic tabletop devices ...
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ArticleOnly a quarter of U.K. companies are ready for Brexit
Only 24 percent of U.K. business leaders believe that their businesses are fully ready for the end of the Brexit transition period, which concludes on Dec. 31, according to a survey by the Institute of Directors (IoD). According to the survey, 19 percent of respondents said that they are ...
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ArticleEU may ask Essilux to sell stores in GrandVision deal
The European Commission may ask EssilorLuxottica to sell stores in Italy and another EU country, either France or the Netherlands, to secure its planned 7.2 billion euro acquisition of GrandVision, according to the newspaper Financial Times. But the company has not yet committed to selling shops as it argues that ...
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ArticleInspecs takes over Norville’s manufacturing operations
(Update) Inspecs has bought the manufacturing operations of The Norville Group that was placed into administration after becoming insolvent. The assets were bought from the administrator, BDO LLP, for £2.4 million in cash (€2.6m-$3.0m). The acquisition includes £1.2 million (€1.3m-$1.5m) of freehold property for Norville’s Gloucester site and the remainder ...
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News briefs
Armani ready to ride out pandemic after 2019 revenue growth
Italian fashion house Giorgio Armani says it is in a strong position to ride out the Covid-19 pandemic, after reporting a return to revenue growth in 2019, a year earlier than anticipated. The company, whose brand logo can be found on everything from jeans, to shoes, eyeglasses and household furnishings ...
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News briefs
Germany increases funding for industrial research
Following lobbying by the German industry association Spectaris and other groups, the German government has agreed to increase by €50 million funds destined to corporate industrial research to a total of €300.6 million. The money is part of a stimulus package to mitigate the impact of the coronavirus pandemic. Spectaris’s ...
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ArticleThe EU extends deadline for Essilux-GrandVision probe to Aug. 20
Once again the the European Commission has pushed back the deadline for completion of its in-depth anti-trust investigation into EssilorLuxottica’s planned €7.2 billion takeover of GrandVision, according to a filing on its website. The deadline was postponed by a week, or five working days, to Aug. 20 from Aug. 13 ...
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ArticleVision Expo West cancelled due to Covid-19 uncertainty
The Vision Council and Reed Exhibitions, the organizers of Vision Expo, have decided to cancel Vision Expo West 2020, that was scheduled to be held in Las Vegas, Nevada, from Sept. 23 to 26 due to ongoing concern about the coronavirus pandemic. The decision comes after the governor of Nevada, ...
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