Luxottica news and archive

Luxottica Alum and Finance Pro Team Up to Launch Inclusive Sunglasses Brand: Yunizon Eyewear

New York, NY–May X, 2020–Yunizon Eyewear, the pioneers behind Global Fit Technology, is proud to launch their core line of innovative, gender neutralsunglasses. Co-Founded by eyewear industry vet Kimberly Van Schoyck-Riojas and corporate finance expert Rebecca Lay,the brand is positioned to become atop global, all-inclusive brand. The first to...

Business

Versace and Luxottica renew eyewear license

Versace and Luxottica Group have jointly announced the early renewal of an exclusive license agreement for the development, production and worldwide distribution of sunglasses and prescription frames under the Versace brand. The company said in a statement that ten-year renewal is effective starting April 1, 2020 and is scheduled to expire on...

Business

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...

Business

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...

Featured

Business

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...

Business

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...

People

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...

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Business

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...

Business

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...

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Fashion

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...

Retail

Valentino and Luxottica sign 10 year eyewear deal

London - Luxottica and Valentino have announced an exclusive 10-year eyewear license agreement for the design, manufacture and worldwide distribution of Valentino eyewear. The first collection under the agreement will be on sale early next year with the company saying it’s all about “coolness and style”. Valentino CEO Stefano Sassi said of the...

People

Luxottica co-chief executive steps down

Italian eyewear maker Luxottica has confirmed that its co-chief executive officer Adil Mehboob-Khan has resigned and will be replaced by founder Leonardo Del Vecchio, as the board of directors approved a simplification of its structure. In a statement, Luxottica stated that Mehboob-Khan, who took the helm in October 2014, will be paid a...