Luxottica news and archive

Luxottica H1 results flat before merger

Luxottica, the world’s largest eyewear manufacturer, reported 4.55 billion euros in revenue in the first half of 2018, with a marginal increase of 0.3 percent. Despite the flat results the company said it is pleased with the group’s performance: "The growth in the markets where we completed the new commercial strategy, including North America...

Report

Luxottica acquires lens manufacturer Barberini S.p.A

Luxottica Group has announced the acquisition of the Italian manufacturer of optical glass sun lenses, Barberini S.p.A. The transaction is valued at approximately 140 million euro (163 million US dollars). ”With the acquisition of Barberini we add another gem to our brands, a name that is well known throughout the industry and synonymous with...

Retail

Sunglass Hut to sell eyewear at outdoor stores Bass Pro and Cabela’s

Sunglass Hut will be the exclusive seller of sunglasses at the outdoor stores Bass Pro and Cabela’s. Bass Pro Outdoor World, owner of the two outdoor brands, has announced a partnership with the Luxottica Group, which owns Sunglass Hut and also designs, manufactures and distributes eyewear for brands like Prada, Chanel and Michael Kors. Sunglass...

Management

Luxottica's Q1 sales hit by bad weather in Europe

Luxottica closed the first quarter of 2018 with sales down by 0.8 percent at constant exchange rates and 10.7 percent at current exchange to 2,136 million euros (2,591 million dollars), which the company said were due to the temporary slowdown in Europe caused by a delayed sun season and the restructuring of the wholesale business in China. "The...

Fashion

Luxottica merges with lens maker to become world's largest eyewear company

Luxottica, the Italian eyewear giant that makes glasses for brands including Chanel, Burberry and Armani, is merging with French company Essilor, the world's leading lens maker, creating a group worth 50 billion euros with 140,000 employees. The merging company will be listed on the Paris stock exchange, meaning Luxottica will be delisted from...

Management

Luxottica expects strong adjusted net profit growth in FY17

In a preliminary results statement, Luxottica Group said that the company closed the fourth quarter of 2017 with sales up 4.3 percent at constant exchange down 2.3 percent at current exchange rates as a result of the strong appreciation of the euro against the group’s other primary currencies. The company added that the fourth quarter results...

Report

Francesco Milleri replaces Massimo Vian as the new CEO of Luxottica

Luxottica Group has announced that its chief executive officer for product and operations Massimo Vian has left the company three months before his term expires and the group will consolidate executive responsibilities in the hands of the Executive Chairman Leonardo Del Vecchio and the Deputy Chairman Francesco Milleri, who also assumes the...

ManagementFeatured

Despite weak Q3, Luxottica affirms full year outlook

Announcing its results for the third quarter of FY17, Luxottica said that its net sales increased 0.8 percent at constant exchange but declined 3.5 percent at current exchange rates as a result of the strong euro appreciation against the main currencies. In the first nine months of the year, revenues rose by 1.5 percent at constant exchange and...

Management

Luxottica reports 4.2 percent revenue growth in H1

The Luxottica Group said that net sales grew by 4.2 percent or 1.8 percent at constant exchange to 4,917 million euros (5,732 million dollars), in the first half of 2017, with sustained profitability for both divisions and record free cash flow generation. The adjusted net income of the group grew by 6.7 percent to 567 million euros (660 million...

Report

Luxottica finalises acquisition of 100 percent of Óticas Carol

The Italian group of high-end glasses has completed the acquisition of the Brazilian company, paying a total of 110 million euros for the totality of Óticas Carol’s capital. The Italian group, owner of brands such as Oakley and Ray-Ban, began the acquisition process of the Brazilian firm last January. The operation was closed last week. Óticas...

Management

LVMH tops Deloitte's Luxury Goods ranking

There’s no change in the top four companies in the latest Global Powers of Luxury Goods report conducted by audit and consulting firm Deloitte, which analyses the top 100 luxury companies in the world. Once again, the report ranked French conglomerate LVMH Moët Hennessy-Louis Vuitton, which includes luxury brands Louis Vuitton, Fendi, Marc...

Fashion Featured