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November 13, 2019November 13, 2019

BMW Enters in the Marcolin Group Brand Portfolio

Marcolin Group and BMW Group announced the signing of an exclusive worldwide licensing agreement for the design, production and distribution of sunglasses and eyeglass frames for BMW, BMW M and BMW M Motorsport labels. The agreement is valid for five years, effective from January 1, 2020 until December 2024.

Marcolin Group will craft eye-catching and contemporary styles, with an energetic soul, conceived not only for the fans and customers of the BMW brand. Modern and easy-to-wear shapes for the BMW masculine and unisex sunglasses and optical frames, enriched by smart details, evoke the authentic essence of the brand.

For those searching for high-performance eyewear, while paying accurate attention to meticulous handcrafted high-tech details, the BMW M sunglasses represent the perfect solution: top quality level in terms of materials and treatments, exclusive aesthetic and bold profiles.

Young and sporty accent designs embody the BMW M Motorsport eyewear collection. Lightness, strong colour-blocking combos and dynamic shapes identify the sun and optical styles of this line, created for the BMW M Motorsport community.

Beginning next year, the eyewear collections will be available worldwide through Marcolin Group’s distribution network and in the travel retail channel.

Massimo Renon, CEO Marcolin Group, affirmed: “We are very excited and proud to be entering this new partnership with BMW, one of the most powerful leaders in the automotive and motorcycle industry. BMW has a strong influence in fashion, with products that are exciting to luxury audiences globally. We believe that the BMW brand, with its solid worldwide presence and innovative fashion design, will fit perfectly within our portfolio. We are confident that this partnership will have great success”.

Click HERE for the full press release.

November 13, 2019November 13, 2019

Safilo Group: Q3 and First 9 Months of 2019 Trading Update

The Board of Directors of Safilo Group has reviewed and approved Q3 and first 9 months 2019 economic and financial key performance indicators.

Angelo Trocchia, Safilo Chief Executive Officer, commented: “In the third quarter of the year, we continued the improvement of our results, working with determination on those priorities aimed at enhancing our Group’s assets, in particular strengthening our commercial capabilities and enhancing our digital agenda, two areas in which our strategy is focused on the customer and on a continuous and ever closer connection with the final consumer. Meanwhile, we progressed also with actions to improve the efficiency of our production processes and overhead cost structures.

The quarter brought significant results, we renewed two strategic partnerships relating to the Boss and Hugo licenses and the supply agreement with Kering Eyewear, and we prepared for the launch of our new licenses David Beckham, Levi’s and Missoni. While we move into a complex business and industry context in which we plan for the medium and long term to build top and bottom line, the quarter is indeed a further confirmation of the quality of the work we undertook, both in terms of top line, with our core wholesale1 business improving by 2.8% at constant exchange rates, as well on the economic front, achieving an adjusted2 EBITDA of Euro 9.7 million. We look at the current year as a transition year for building the foundation to face the challenges and opportunities that lie ahead.”

Safilo closed the first 9 months of 2019 with the net sales of the Continuing Operations at €708.7 million, up 5.2% at current exchange rates and 2.7% at constant exchange rates. The performance was positively influenced by a 3.2% growth of the European market, and by the recovery of the main emerging markets, particularly significant in Asia Pacific which ended up 22.5%. Turnover was down 2.0% at constant exchange rates in North America.

The wholesale business increased by 6.4% at current exchange rates and by 3.7% at constant exchange rates, with Europe up 5.6%.

The North American business, on the other hand, recorded a 7.7% drop at constant exchange rates, mainly reflecting the consolidation of all the North American logistic activities in the new Denver warehouse, a start-up temporarily affecting the performance of Smith sport products.

The quarterly performance also confirmed the good growth of the Carrera and Polaroid brands and the positive trends of the main licensed brands.

Click HERE for the full press release.

November 12, 2019October 18, 2019

Bash: To Support Women at Any Moment

On trend for Fall/Winter 2019, Bash eyewear introduces an oversized geometric shape. Glossy gold-plated metal whose angles are highlighted by a delicate coloured line, adding dimension for those who seek a frame style that follows the latest fashion trends.

The temples are co-ordinates in an acetate wrap whose texture adds pattern to the overall design.
Photo: BA1023 NODO

Distributed by Lanctôt: www.rlanctot.com

November 12, 2019November 12, 2019

New Look Vision Reports Solid Q3 Results

New Look Vision Group reported financial results for the period ended September 28, 2019 (“Q3 2019”).

Q3 2019 Financial and Operational Highlights

• Revenues increased by 2.1% over last year to $74.4 million.

• Comparable store sales orders were up by 1.6% compared to the third quarter of last year, marking the 21st consecutive quarter of comparable store sales growth.

• Adjusted EBITDA attributed to shareholders reached $14.4 million, an increase of 3.3% over last year and 3.4% on a per diluted share basis to $0.92.

• Net earnings attributed to shareholders remained flat at $0.31 on a per diluted share basis.

• Adjusted net earnings attributed to shareholders increased to $6.9 million and on a per diluted share reached $0.44, an increase of 4.8% over the same quarter last year. The increase was driven by improved EBITDA.

• Cash flows related to operating activities reached $13.5 million, an increase of 42.3% over last year and increased 41.0% on a per diluted share basis to $0.86.

• The long-term debt was reduced by $5.1 million in the third quarter of 2019 through voluntary and contractual repayments, improving the net debt to adjusted EBITDA attributed to shareholders ratio to 2.56, compared to 2.88 in the same period last year.

• The quarterly dividend payment to shareholders of $0.15 per share was maintained.

Year-to-date Financial and Operating Results

• Year-to-date revenues and adjusted EBITDA attributed to shareholders reached a record $223.9 million and $41.6 million respectively, which represent increases of 1.8% and 2.1% respectively over last year. Comparable store sales orders year-to-date were up 1.9% over last year.

• The increase in the number of stores year-to-date reflects the acquisition of ten stores net of five scheduled store closures.

• Net earnings attributed to shareholders were $13.7 million or $0.88 per diluted share, compared to $11.1 million last year or $0.71 per diluted share.

• Adjusted net earnings attributed to shareholders increased to $18.2 million, $0.6 million over last year. Adjusted net earnings attributed to shareholders(a) reached $1.17 per diluted share, up 3.5% from $1.13 in 2018.

• Cash flows related to operating activities reached $36.3 million, an increase of 32.5% over last year and increased 32.6% on a per diluted share basis to $2.32.

President & CEO’s comments

Antoine Amiel, the President and CEO of New Look Vision, stated that: “The second half of the year is off to a solid start, as New Look Vision delivered its 21st consecutive quarter of comparable store sales growth, improved earnings and healthy cash flows. We continue to focus on achieving operational synergies and to explore profitable growth opportunities in the consolidating Canadian retail optical sector”.

Click HERE for the full press release.

November 9, 2019November 9, 2019

2019 Vision Institute Conference Marks Leadership Turnover, Celebration and a Dedication

The Vision Institute of Canada (VIC) kicked off its 3-day Annual Fall Conference and Trade Show Friday November 8^th, dedicated to the memory of Dr. Catherine Chiarelli, who passed away earlier this year following a courageous battle with cancer.

The conference provides 20 hours of Category A continuing education lectures.

This year’s conference marks the retirement of Dr. Paul Chris as Executive Director of VIC after 15 years. Following the key note address by comedian Rick Green, co-founder of the Red Green Show and member of the Order of Canada, Dr. Mira Acs, President of VIC Board of Directors, presented Dr. Chris with a painting by First Nation’s artist Leland Bell from the Wikwemikong Unceded First Nation on Manitoulin Island, Ontario.

Dr. ACS presents a special award to Dr. Chris. Click here to watch the video
Tony Jocko, Dr. Chris, Dr. Calder. Painting by Leland Bell
Click to view Video

Throughout Dr Chris’s tenure at VIC he has been a driving force for raising awareness about the issue of preventable vision loss that is occurring due to the epidemic of diabetes affecting Canada’s First Nation, Inuit and Metis people.

Dr. Chris was joined on stage by Tony Jocko of the Anishinabek Nation (Union of Ontario Indians), the recipient of the 2019 CAO Vision Champion award. Jocko, a Federal Health Policy Analyst, has been a dedicated advocate for improved access to quality vision care services for First Nations Communities and has worked collaboratively with VIC to bring much needed in-community vision care services to the children in First Nations elementary schools.

The appointment of new Executive Director of VIC, Frances MacCusworth, was announced. MacCusworth brings a wealth of experience with health professionals associations in fundraising drives, conference planning and sponsorship programs, with nearly 20 years of executive experience with the Ontario Occupational Health Nurses Association.

Dr. Acs confirmed to Optik that this year’s attendance included 346 Optometrists and 60 Optometric Assistants, surpassing 2018’s numbers.

Mark your calendar for the 2020 Conference: November 6–8 at the Markham Hilton Conference Centre.