All Eyewear Intelligence articles in Volume 25 No. 15+16 – Page 2
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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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ArticleMeta reportedly in discussion to take a 5% stake in Essilux
On the day following the announcement of streetwear brand Supreme by EssilorLuxottica, both the Financial Times and the Wall Street Journal (WSJ) reported that Meta was in talks to acquire a 5 percent stake in the Italo-French eyewear group. The news sent EssilorLuxottica’s share price back up after a 4.5 ...
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News briefs
Johnson & Johnson sees 2% contact lens sales drop in Q2
Johnson & Johnson reported contact lens sales totaling $918 million in the second quarter of 2024, down by a reported 2.2 percent compared to the year earlier but 0.7 percent higher at constant currency rates. Sales growth on a constant-currency basis was driven by the continued strong performance of the ...
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ArticleEssilux mixes med-tech and streetwear in shopping basket
“As you understood, we love our origins a lot, based on frames and lenses, but the company is now taking a slightly different direction,” said Francesco Milleri, CEO of EssilorLuxottica at the group’s shareholders’ assembly in April, replying to a question related to the potential acquisition of Marcolin. This was ...
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ArticleA majority of stock listed eyewear companies saw their share value decline in Q2
Stock listed eyewear companies have seen their share value increase by 4.3 percent on a non-weighted average basis in the second quarter of 2024, improving slightly from the 1.6 percent increase observed in Q1. The industry average outperformed the MSCI World Index, which includes 1,500 companies worldwide and grew by ...
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News briefs
OBE designer workshop draws record participation
OBE, the German-based manufacturer of hinges, welcomed 25 industry participants from 15 companies to its annual eyewear designer workshop at its headquarters on July 11. The company said it was a record participation for the 27th edition of the event, which was complemented this year by a guest presentation by ...
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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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ArticleThe new reality of the Russian eyewear market
Over the last few years, the Russian eyewear market has experienced a rollercoaster ride, with occasional supply disruptions, price swings, growing dependence on China and a rise in the share of counterfeit goods and “grey imports.” The Russian eyewear market has nearly doubled between 2017 and 2021, a study by ...
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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 briefsZeiss opens a combined R&D center and factory in China
Zeiss Group opened a combined R&D center and factory on July 8 at Suzhou Industrial Park, near the delta of the Yangtze River. This is the first time in its 67 years of operation in the country that Zeiss has purchased land in China. There, the company has built a ...
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ArticleFielmann posts double-digit sales increase and higher profit ratios in H1
On the morning of its annual general meeting on July 11, Fielmann Group has reported strong preliminary results for the first half of the current fiscal year. External sales increased by 12 percent year-on-year to €1.1 billion in H1 2024, confirming the double-digit growth already reported for Q1. International ...
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News briefs
Read on appoints first distributor in Europe
Read on, a Swiss-based brand of ultralight readers, has signed a distribution partnership for Switzerland and Austria with Prolens, a supplier of contact lenses, care products and dry-eye solutions. Thanks to the agreement, Read on now has a warehouse in Europe, in addition to those in Switzerland and the US, ...
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ArticleBrazilian optical retail market value up 5% in 2023
The Brazilian optical retail market value grew by 4.9 percent year-on-year to 25.6 billion reais (€4.4bn) in 2023 according to the annual report by Abióptica. The data was calculated based on a survey by Cielo, a credit card service company, at optical stores. It does not include online sales. Founded ...
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News briefsVSP Vision's iCare buys Miami clinic
iCare Health Solutions has acquired Beraja Medical Group, a 35-year-old clinic in the city of Coral Gables, within Greater Miami. Beraja has three specialties: ophthalmology, surgical and non-surgical cosmetic procedures, and ocuplastic surgery (reconstruction of the eyelids, eyebrows, forehead and cheeks). The change will apparently be limited to ownership, as ...
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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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News briefsEU prosecutors allege customs fraud on Chinese imports
On June 25 and 26, expecting to find illegally imported eyewear from China, the European Public Prosecutor’s Office (EPPO) in Paris had 90 policemen conduct simultaneous searches of 17 sites in Belgium, France and the Netherlands, as we have learned from Acuité. It is unclear from the EPPO’s statement whether ...
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