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Tag: luxottica

  • Essilor Luxottica and Meta Unveil Affordable AI Glasses for the Masses

    Essilor Luxottica and Meta Unveil Affordable AI Glasses for the Masses

    Renowned eyewear manufacturer, Essilor Luxottica, has entered into a collaboration with Mark Zuckerberg’s Meta for the creation of a more affordable range of AI glasses, targeting price-conscious customers. This move follows the successful release of AI glasses under the Ray-Ban and Oakley brands, with the Ray-Ban line becoming the top-selling AI glasses on the market.

    Creating Affordable AI Glasses

    The Essilor Luxottica range, priced from just $299, promises to bring the company’s innovation in smart eyewear to a wider audience, offering consumers around the globe enhanced and more integrated experiences. The CEO of Essilor Luxottica, Francesco Milleri, expressed his excitement at this cutting-edge development in the realm of smart eyewear. He asserted the launch provides an opportunity for budget-conscious consumers to experience the transformative effect of wearable tech in their daily lives.

    According to Milleri, Essilor Luxottica’s range of “iconic brands” have been instrumental in boosting the adoption of their products in the market. The company, a result of the 2018 merger of lens manufacturer Essilor and frames producer Luxottica, boasts a remarkable portfolio that includes global brands such as Ray-Ban, Oakley, and Oliver Peoples. In addition, they produce glasses for luxury brands like Chanel, Prada, Coach, and Armani.

    The Future of Eyewear

    Meta CEO Mark Zuckerberg was enthusiastic about the partnership with EssilorLuxottica, highlighting the aim to integrate potent AI into eyewear frames that consumers will want to wear. Zuckerberg suggested that glasses could become a primary medium for individuals to access personal superintelligence, and with the new Meta Glasses, this possibility could become a reality for a much broader audience.

    The new collection will initially offer three styles, coupled with a variety of lens options. Currently, the range is available online for customers in the US, Canada, and a select number of European countries, with plans to extend further into additional markets later in the year.

    Questions & Answers

    What is the pricing for the new Essilor Luxottica AI glasses?
    The AI glasses will start retailing from $299.

    Who is Essilor Luxottica partnered with for this new venture?
    Essilor Luxottica is partnering with Mark Zuckerberg’s Meta for the production of these glasses.

    Where are the new AI glasses currently available?
    They are available online for customers in the US, Canada, and select European countries.

  • Prada hires former Luxottica chief Andrea Guerra as new CEO

    Prada hires former Luxottica chief Andrea Guerra as new CEO

    Patrizio Bertelli, the current CEO of the premium brand, will be chosen chairman at the annual shareholder meeting next spring. He will succeed Paolo Zannoni, who will be proposed for the position of executive vice chairman of the group and chairman of Prada Holding, the parent firm.

    Current Co-CEO Miuccia Prada, age 73, will continue to serve as creative director of the Miu Miu and Prada brands, the latter with Belgian designer Raf Simons, and as a board member.

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  • Luxottica and CDFG/Sunrise launch new Miu Miu colour

    Luxottica and CDFG/Sunrise launch new Miu Miu colour

    Italian eyewear firm Luxottica Group has entered its second partnership with China Duty Free Group and Sunrise Duty Free to offer the latest Miu Miu sunglasses collection. The travel retail exclusive has opened in selected airports and other Chinese travel retail stores, trading a reinterpreted version of Miu Miu’s Noir collection. Pop-up sites and personalised backwalls have been prominently installed in the selected locations amplified by customised brand furniture and trained staff.

    “It is a privilege to partner with China Duty Free Group and Sunrise Duty Free on a second China travel retail exclusive color from Miu Miu,” said Luxottica’s travel retail director Enrico Destro. “Both retailers bring our brands to the heart of the Chinese travelling consumer, presenting the opportunity to collaborate on projects to truly capture Chinese spending power and sophisticated appetite for luxury brands, as well as respond to these consumers increasing demand for unique and exclusive products.”

    “At CDFG, our sunglasses category is growing in sophistication very quickly,” added China Duty Free Group’s fashion department director Lee Meili. “We see a large growth opportunity for the category and we will continue on our path to bring newness and exclusivity to our offer … This exclusive Miu Miu color was specially selected with Chinese travellers in mind, and has been presented in a very compelling launch package.”

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  • Luxottica sales hit by China restructure

    Luxottica sales hit by China restructure

    Luxottica announced a decrease in first-quarter sales for fiscal 2018, hurt by a slump in European revenues due to bad weather, and distribution restructuring in China.

    The maker and distributor of luxury eyewear said first-quarter revenue plummeted 10.7 percent to 2.13 billion euros, compared with 2.39 billion euros in the same period the previous year. With the effect of currency swings, sales were down 0.8 percent.

    For the three months ended March 31, the Italian firm’s wholesale channel recorded an 11.1 percent to 830 million euros, or 4.2 percent at constant exchange rates, hurt by bad weather in Europe, which delayed orders by several weeks.

    For the quarter, retail sales were down 10.4 percent to 1.3 billion euros, but grew 1.3 percent at constant exchange rates, while comparable-store sales decreased 0.6 percent, said the firm.

    By region, Asia-Pacific sales declined 9.3 percent to 279 million euros, representing 13 percent of total sales for the quarter.

    The dive was driven by China’s negative performance, as Luxottica continues to restructure its distribution channel, taking it to a more direct-to-consumer model.

    The overall China downfall was offset by Australia, Japan and India, as well as travel retail, benefitting from stellar retail performances at Sunglass Hut at OPSM in Australia and LensCrafters and Ray-Ban stores in China.

    By comparison sales in North America were down 13 percent to 1.19 billion euros, accounting for 56 percent of total revenues; Europe retail sales decreased 5.5 percent to 489 million euros, after twelve consecutive quarters of growth; and sales in Latin America decreased 9.8 percent to 131 million euros.

    Looking ahead, the Italian company confirmed its full-year guidance and remains in the process of merging with French lens maker Essilor. The merger has been cleared by antitrust authorities in 18 separate countries but awaits approval from China still.

    Luxottica is licensed to make eyewear frames for luxury fashion brands such Armani, Michael Kors and Prada, and is the owner and maker of sunglass brands Ray-Ban, Oakley and Oliver Peoples.

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  • Oakley China will start with Nanjing store

    Oakley China will start with Nanjing store

    Oakley China has its first dedicated store, in Xinjiekou’s Deji Plaza, Nanjing.

    The Nanjing store follows the opening in Shanghai of a one-of-a-kind store for the group, being half Oakley and half Ray-Ban. “This Nanjing store is the first Oakley-only store in China, and it not only glasses focused.”

    It also offers the brand’s speciality activewear for such outdoor sports as skiing, cycling and running, and is situated beside other sporting giants Evisu, Nike and Puma, and is across from Adidas.

    Owned by Luxottica, Oakley works not only with Ray-Ban in China but with LensCrafters, another US retailer of prescription eyewear.

    Attending the official opening were Oakley president of retail for greater China Alessandro Donadelli, and LensCrafters, Ray-Ban and Oakley GM for greater China Carl James.

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  • Watchdog grants Essilor and Luxottica merger

    Watchdog grants Essilor and Luxottica merger

    The Commerce Commission has granted clearance for Essilor International (Compagnie Générale d’Optique) S.A. and Luxottica Group S.p.A to merge their business activities in New Zealand.

    The proposed global merger brings together a supplier of prescription lenses (Essilor) with a supplier of prescription frames and sunglasses (Luxottica). The parties have sought clearance from a number of regulators in different countries including New Zealand.

    Commerce Commission Chairman Dr Mark Berry said the watchdog is satisfied that the acquisition is unlikely to substantially lessen competition in New Zealand markets.

    “Competition is strong and we believe the merged entity will be sufficiently constrained by the presence of existing competitors with the ability to expand at all levels of the supply chain and in all relevant markets.”

    In reaching its decision, the government agency said it considered the impact on New Zealand markets for the import and supply of unfinished prescription lenses, the wholesale supply of finished prescription lenses and frames, and the retail supply of prescription lenses and frames, contact lenses and non-prescription sunglasses.

    In New Zealand, Essilor is principally active in the wholesale supply of finished prescription lenses to optical retailers. Essilor is also active in the retail market to a limited extent via its online store. Meanwhile Luxottica is a global manufacturer and wholesale supplier of prescription frames and sunglasses. In New Zealand, Luxottica’s activities are limited to the wholesale supply of prescription frames and sunglasses, and the retail of optical products and services (via its OPSM, Sunglass Hut, and Oakley stores).

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  • Essilor and Luxottica to create global eyewear powerhouse

    Essilor and Luxottica to create global eyewear powerhouse

    France’s Essilor and Italy’s Luxottica have agreed to terms of a 46 billion euro (US$49 billion) merger, creating a global eyewear powerhouse with annual sales of  more than 15 billion euros.

    Essilor and Luxottica said they will be focusing on boosting sales in Asia and Latin America as well as building their eCommerce presence.

    Essilor is the world’s largest lens maker and Luxottica the world’s largest frame maker and vendor which owns extensive retail chains, such as Sunglass Hut, Australia’s OPSM and brands including Ray-Ban, Oakley and Persol.

    “Finally, two products which are naturally complementary – frames and lenses – will be designed, manufactured and distributed under the same roof,” said Luxottica’s founder Leonardo Del Vecchio, 81, in a statement.

    The two companies are battling slowing growth internationally, but believe there is massive potential in the market with an estimated 2.5 billion of the world’s population suffering from uncorrected eyesight issues.

    Once complete, the merger of the two companies could add as much as 600 million euros to their combined bottom line.

    The new entity will be headquartered and listed in Paris and have a staff of more than 140,000 across the globe.

    It will be jointly headed by Del Vecchio and Essilor CEO and chairman Hubert Sagnieres. Del Vecchio will be CEO and executive chairman and Sagnieres, 61, executive vice-chairman and deputy CEO – but the pair will have equal powers.

    “We have and share the same values, we have and share the same vision, we have and share the same interest in the product…,” Sagnieres said in a conference call to discuss the merger. “If we really want to provide consumers with the best product, Leonardo and I will have to co-manage.”

    “This marriage will take place and will work,” Del Vecchio added.

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  • DFS and Luxottica seek differentiation with Ray-Ban concept in Hong Kong

    DFS and Luxottica seek differentiation with Ray-Ban concept in Hong Kong

    Luxottica says the opening of its Ray-Ban shop-in-shop at Hong Kong International is part of a strategy to differentiate the sunglasses offer in travel retail.

    The company worked with DFS Group to open the first of its kind shop-in-shop in Asian travel retail at the airport’s Midfield Concourse.

    The 15sq m concept features the largest range of Ray-Ban products at any airport in Asia, the companies said. There are dedicated areas for different segments in the Ray-Ban range, including Icons, Tech and Lifestyle, as well as a section for Ray-Ban Kids.

    Shoppers are also being given the opportunity to experience the benefits of polarised lenses through Ray-Ban’s Polarised Tester technology.

    “Ray-Ban has the brand equity, range and product innovation to sustain a dedicated shop-in-shop,” said Luxottica Head of Global Channels Francis Gros. “At a major global hub airport like Hong Kong, with a large multi-site retail footprint, it’s important to differentiate the sunglasses offer, and our new Ray-Ban shop-in-shop is part of this strategy.

    “DFS constantly strives to offer shoppers something exceptional and new and they have been very supportive of our vision to make travel retail the expert channel for sunglasses.”

    DFS Group Director Merchandising for Sunglasses, Fashion Jewelry, and Watches Jason Blejwas commented: “Sunglasses continues to be a strong category for DFS and we are committed to bringing our customers the products they love in an engaging and enticing environment.”
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  • Luxottica groups with JD.com

    Luxottica groups with JD.com

    JD.com says it is going to associate with eyewear producer Luxottica to retail a variety of sun shades bearing a few of the best-known international luxurious manufacturers.

    Clients of the Chinese language web site will be capable of buy sun shades from manufacturers together with Ray-Ban, Oakley and Vogue. A lot of the merchandise might be out there by means of JD.com’s direct gross sales channel, enabling Luxottica to leverage JD.com’s nationwide logistics community that includes commonplace same- and next-day supply.

    “Chinese language shoppers more and more depend on JD.com for handy and dependable entry to high-quality luxurious items throughout a variety of merchandise, from clothes and niknaks, to cosmetics,” stated Lijun Xin, VP.

    “We’re delighted to be partnering with Luxottica, the clear international chief in luxurious eyewear, to broaden our providing on this market that’s quickly rising amongst Chinese language shoppers.

    “Partnerships with main luxurious producers resembling Luxottica underline the belief that our international companions have in JD.com, not solely to drive gross sales, but in addition to offer shoppers assured genuine merchandise and the absolute best model expertise.”

    JD.com operates seven achievement facilities and 143 warehouses in 43 cities throughout China, with 3539 supply stations and pickup stations in 1961 counties and districts.