eyebizz International

Due to competition concerns, the EU Commission had approved the takeover of GrandVision by EssilorLuxottica only on condition that the company reduce its presence in numerous markets in Europe by selling branches. It complied, selling branches in Italy, Belgium and the Netherlands during December.

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Security preparations are in full swing for MIDO, which will be held at Fiera Milano Rho from 12 to 14 February 2022. Two months before the opening, the concept for the February show has been confirmed and visitors can now register.

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A host of exciting and innovative new products will be showcased at next year’s 100% Optical from 22-24 January when the UK’s biggest optical show returns in 2022. 200 exhibitors will be at the show at London’s ExCeL – some for the first time.

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At the beginning of October, CooperVision presented data from a clinical study on lenses with Diffusion Optics Technology from SightGlass Vision at the product launch in the Netherlands. Partner EssilorLuxottica, which will also launch the new myopia lenses, was also present.

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Kering Eyewear completed its acquisition of eyewear brand Lindberg at the end of September, in accordance with the terms announced in early July and following approval from antitrust authorities. The Danish label will be consolidated on Kering’s books from the fourth quarter of 2021.

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Safilo Group S.p.A.’s first-half 2021 results saw revenue growth of 7.7% at constant exchange rates and a 20.5% increase at the adjusted EBITDA level. This continued the solid revenue momentum seen in the first three months of the year.

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EssilorLuxottica is doing well in the first half of the year despite the ongoing pandemic. The group presented updated figures at the end of July: a 35% increase in operating profit compared to 2019, operating profit margin at 18.5% and free cash flow at a record €1.2 billion. Also newly presented: a company-wide concept for more sustainability.

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An extraordinary shareholders’ meeting of Safilo Group on July 30 approved a share capital increase within the limits of the maximum amount of 135 million euros. The purpose is to repay loans from 2020 and enable further investments.

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After mega deal now a mega fine: the French competition authority has fined several companies in the eyewear industry, including EssilorLuxottica, for unfairly controlling the prices that opticians could charge for their eyewear products or refusing to sell them online between 1999 and 2015. The group is now to pay 125 million euros, but intends to appeal.

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Kering Eyewear and the Lindberg family have signed an agreement to acquire 100 per cent of Lindberg’s share capital. The transaction is subject to clearance by the relevant competition authorities and is expected to close in the second half of 2021.

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Mission completed: EssilorLuxottica announced on the evening of 1 July the final closing of the acquisition of a 76.72 percent stake in GrandVision from HAL Optical Investments, a wholly owned subsidiary of HAL Holding, in accordance with the agreement signed with HAL almost a year ago.

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EssilorLuxottica can rejoice at the positive outcome of the arbitration, which it says “confirmed violations by GrandVision”. The group now has the option of terminating its takeover of the Dutch chain without having to pay the agreed settlement of 400 million euros – or renegotiate the purchase price.

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SILMO and its partners have been developing various event formats to complement the Paris show. The global pandemic now inspired them to create the “Specs and the City” concept: several smaller showrooms in one city, starting in August at several locations in Europe.

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With the approval of the Turkish authority, the last one has now been granted for the completion of the mega deal between EssilorLuxottica and GrandVision. The outcome of the acquisition is now subject only to the decision of ongoing arbitration proceedings between the groups.

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Milan, June 4, 2021. MIDO 2021| Digital Edition will open tomorrow, June 5th. Until Monday,  June 7th, 30 events, 60 guests and over 400 showcase pages that will seize the international business opportunities of the new “immersive” format. To open the event, the official greetings of the Mayor of Milan, Giuseppe Sala and the President…

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When the Digital Edition of Mido 2021 takes place from 5 to 7 June, it will not only be an unusual time for the Italian optics fair instead of the usual February dates. It is also a virtual premiere with a new 360° format that promises an innovative experience thanks to the new platform that debuts on 28 May.

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