Blog

November 25, 2016April 24, 2018

Global Optics Offers New Membership Level for Acquired Labs

Global Optics, an optical lens distributor based in Wisconsin, is now opening its doors to associate member labs to benefit from Global’s logistics expertise, including those in Canada.

The company, now co-owned by eight non-aligned independent wholesale laboratories, was originally formed in 1971 to consolidate the purchasing power with multi-national lens suppliers. Global’s mission has been steadfast in its support of independent wholesale labs even through the challenges of its various owners being acquired by major multi-national lens companies including Essilor and Hoya.

While the original mission was to supply their owner-members, a new “Associate Member” level allows acquired labs to continue to purchase lenses from the company.

In the past, when a lab member was acquired by a lens manufacturer, they were no longer able to purchase from Global, and were required to divest their interests.

Barbara Vitchus, President of Global Optics, told VuePoint that Global’s investment in logistics systems, including a fully computerized 34,000 sq. ft. state-of-the art distribution center and its 1million piece lens inventory of over 150,000 individual products, will ensure its competitive advantage regardless of ongoing consolidation within the industry.

Global is also expanding its product offering through distribution agreements with overseas lens companies including Thai Optical Group, which supply Tribid lenses, a line of safety glasses and, soon to come, lab processing materials.

All though the company is not actively pursuing a Canadian strategy, Vitchus indicated, “we’ve had Canadian members before, and there’s no reason why we wouldn’t do that again.” Currently GlobalOptics processes over 30,000 lenses per day to over 200 locations.

November 25, 2016April 24, 2018

WOODONE Inaugurates New Wood Production Facility

WooDone strengthens its position in the eyewear industry and confirms the uniqueness of the brand and its products by inaugurating the new Wood Production facility near its headquarters in Varna (Bolzano). A single hub – 2,000 sq.m and an overall investment of 2 million Euros – strongly desired by the company for its wonderful Made in South Tyrol production.

The project is based on continuing research in production technologies and treatments. These values have been transferred to the concept for the headquarters by designing pleasant rooms fitted with modern equipment, where space is used for the entire production cycle of all the lines in the WooDone family.

The premise with views of the Dolomites is where all the WooDone collections will be produced: Wood, Nature, and Dolomites by WooDone – “handmade in South Tyrol” made from a single piece of certified wood from Alto Adige – the MyWoodi styles, and the Robin Wood bowties.

The WooDone family is strengthening its market position while remaining true to its area of origin, skillfully blending traditional values and creative innovation.

With 30 people on its payroll, 20 of whom dedicated to the production of more than 25,000 units per year, the company’s products are sold in more than 3,500 stores around the world today; sales totaled approximately 4 million Euros, 75% of which generated by exports.

Click HERE to read full press release.

November 23, 2016May 20, 2026

HAYDN: Avant-Garde Sunglasses

MCM (Modern Creation Munich) presents a new Eyewear Collection which celebrates the brand’s luxurious, non-conformist and innovative spirit. These unisex sunglasses –MCM636S – HAYDN- feature unique round frames in acetate. The model is embellished with a bold double bridge in metal, the design of which is inspired by the geometric shape of a cut diamond. Meanwhile, luxurious gold decorations adorn the front section and temples, which also feature the MCM logo.

Distributed by Marchon: www.marchon.com

November 23, 2016April 24, 2018

MODERN OPTICAL INTERNATIONAL Supports Local University Food Pantry

Roselle, IL – Value eyewear leader Modern Optical International sponsored a food drive in early November to support Libby’s Place, an on-campus food bank at nearby Aurora University in Aurora, Illinois. This is the second consecutive year that Modern Optical employees and their families chose Libby’s Place as its “Modern Gives Back” Charity. Founded in August 2015, Libby’s Place was established following a homelessness initiative meeting on campus. Students, staff, and members of the community realized that homelessness and food insecurity are issues some students face every day.

To help stock the shelves of Libby’s Place, Modern Optical employees donated over 800 items ranging from cereal, noodles, and canned goods to hygiene items such as toothpaste and soap. Several employees made gift card and monetary donations.

Kris Johnson, Director of Student Leadership at Aurora University, expressed her gratitude in a recent letter, “I cannot begin to thank you for the generous donation of food and toiletry items… We have had a significant increase in the number of students using the food pantry this year and your donation came at an optimal time as we were getting low on supplies… Essentially, Modern Optical International has not only helped to feed their stomachs, but also their hearts and souls as well. For the students to be able to live in an environment where they know other people care for them is absolutely priceless. We will be forever grateful for your kindness.”

To read full press release, click HERE.

November 23, 2016April 24, 2018

Essilor Expands in China

Charenton-le-Pont, France – Essilor has formed a new partnership by taking a 50% stake in Photosynthesis Group, a Hong Kong-based company that markets sunglasses and corrective lenses under a range of banners including MJS. It primarily operates through a network of franchised shopping mall stores in China and has begun expanding abroad in Southeast Asia. The partnership will help to drive faster growth in the Chinese optical industry, while enabling Essilor to broaden its footprint in the promising sunwear segment.

Separately, Essilor has also agreed to purchase a 55% equity interest in Jiangsu Creasky Optical, an ophthalmic lens manufacturer and distributor based in Danyang, China. Jiangsu Creasky Optical employs more than 300 people and primarily serves the domestic market. Its acquisition, which is subject to regulatory approval, is designed to expand Essilor’s offering in the Chinese mid-range segment.

Together, these two partnerships attest to Essilor’s strong acquisitions dynamic in 2016, which is expected to result in a scope effect of around 4% for the year. On a like-for-like basis, revenue growth is now projected to end the year at around 3.5%, reflecting the temporary slowdown in the ophthalmic optical market in the United States – the Company’s largest market – and several other leading geographies, as well as the October revenue performance. The solid growth anticipated therefore in full-year revenue at constant exchange rates reflects the strengthening of the Company’s positions across the global marketplace.

Lastly, contribution from operations1 is now expected to stand at around 18.5% of revenue, primarily due to the slower than expected like-for-like growth and the dilution from the sustained acquisitions dynamic.

In 2017 and the years ahead, Essilor will pursue its mission to improving visual health by strategically expanding in prescription lenses, sunwear and online sales. It remains confident in its ability to seize the wide variety of growth opportunities offered by the optical market, where demand is being driven by durable, robust fundamentals.

1 Contribution from operations corresponds to revenue less cost of sales and operating expenses.

Click HERE to read the full press release.