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EssilorLuxottica: Solid Start to the Year

EssilorLuxottica

EssilorLuxottica announced that consolidated revenue for the first quarter of 2023 reached Euro 6,151 million, representing a year-on-year increase of 8.6% at constant exchange rates compared to the first quarter of 2022 (+9.7% at current exchange rates).

Francesco Milleri, Chairman and CEO, and Paul du Saillant, Deputy CEO at EssilorLuxottica commented:

“We’re very pleased to start the year with another strong quarter, every region and channel contributing to our performance. What’s even more satisfying is the way in which we achieved it. Sustainability is at the heart of our strategy and our key focus in 2023. We continue to deliver on our “Eyes on the Planet” pillars while supporting the long-term growth of the industry.

We started the year with a commitment to setting science-based emission reduction targets in line with the SBTi criteria. We have also announced a new agreement with ERG for the supply of electricity produced from a repowered wind farm in Sicily – covering half of our energy needs in Italy. Our current and future investments in renewable energy will help propel us towards carbon neutrality in Europe this year and globally by 2025.”

North America

North America posted revenue of Euro 2,859 million, up 7.0% compared to the first quarter of 2022 (+11.4% at current exchange rates), visibly accelerating from the fourth quarter and on top of the best quarter of last year.

Professional Solutions was up high-single digit with all product categories contributing nicely. The consumer-facing lens brands, Varilux and Transitions, drove the results together with Shamir. On the frames side, the licensed brands delivered healthy growth, including luxury despite the tough comparison base of last year.

Direct to Consumer grew high-single digit due to the sound performance of the optical retail banners sustained by the robust demand of the insured customers. LensCrafters delivered low-single-digit comparable-store sales2 thanks to revived traffic and a strong in-store execution. The number of eye exams processed and converted was up, also thanks to the increased use of teleoptometry which grew threefold compared to last year. Comparable-store sales at Sunglass Hut were down mid-single digit as severe weather conditions caused traffic to plummet in the second half of the quarter. E-commerce was up low-single digit with EyeBuyDirect.com continuing to outperform the rest of the banners. EyeMed delivered another strong quarter at double-digit sales growth, now covering 72 million lives.

Click HERE for the complete press release.

CooperVision Seeks Proposals for 2023 Science and Technology Awards

CooperVision is now accepting submissions for its 2023 Science and Technology Awards program. The longstanding program enables researchers around the world to explore new dimensions in vision care, with the goal of translating innovative ideas into practical solutions.

“Our relentless drive to discover new ways to meet the current and future needs of eye care professionals and contact lens wearers is what keeps CooperVision at the forefront of product development,” said Francis Erard, CooperVision’s Vice President of Research & Development. “The Science and Technology Awards program extends the path to innovation outside of our own organization, providing opportunities to some of the brightest minds in the field to pursue research and make progress toward solving the vision challenges for which they are most passionate.”

Each year, CooperVision determines specific areas of focus for the Science and Technology Awards program. In 2023, submissions will be considered for the following subjects:

  • Understanding childhood myopia development, including pathogenesis, mechanisms, and risk factors
  • New methods to prevent the onset of myopia, including prophylactic technologies and novel proposals for glasses, contact lenses, interactive and combination therapies
  • Strategies to prevent the development of symptomatology in new contact lens wearers, with an emphasis on diagnosis and early intervention therapies, understanding biochemical changes in newly fitted wearers over time, and controlled release technologies for delivery of beneficial agents, as well as approaches to improve moisture retention
  • The impact of artificial intelligence (AI) on contact lens fitting and diagnosis, including applications for optometry and orthokeratology (ortho-k) with technologies such as ChatGPT, Bard, and more.

Since 2014, the CooperVision program has made grants totaling more than $2 million to investigate a wide variety of topics.

Proposals may span proof-of-concept through translational stages and are eligible for two types of awards. The CooperVision Seedling Award is intended for investigation of early-stage concepts for a one-year period, with a maximum grant of $100,000. The CooperVision Translational Research Award is a two-year grant for substantive projects with funding up to $400,000.

CooperVision Science and Technology Awards are open to any researcher with principal investigator (PI) status holding an OD, MD, PhD or equivalent degree. Applicants such as postdoctoral fellows with a waiver of PI status must submit appropriate documentation before funding can be disbursed.

Interested applicants must submit a letter of intent before June 23, 2023. Visit www.coopervision.com/about-us/science-and-technology-awards for more information.

Click HERE for the full press release.

OGS Welcomes Nikki Earich as Development Director, North America

Optometry Giving Sight (OGS) today announced the appointment of Nikki Earich to Development Director, North America. In her new role, Earich is responsible for developing and managing the organization’s fundraising initiatives, while building and strengthening partnerships with optometric practices, eye care professionals, and other key industry stakeholders.

After beginning her career in eye care working as an assistant at her father’s optometry practice, Earich partnered with her mother in 1995 to open the Eyeland of St. John’s, an optical shop in Highland Park, Ill. Soon after, Earich’s brother joined the family business and less than a year later, they opened a second location. In the following years, the company was acquired and came to be known as Spex, where Earich was responsible for all training operations as it expanded to 24 locations across Chicagoland. Since 2016, Earich has served as a staff development consultant for independent eye care professionals and other retail optical shops.

“OGS is truly optometry’s charity. We’re able to give the gift of sight only with the support and partnership of eye care professionals dedicated to the expansion of optometry around the world,” said Lois Schoenbrun, Executive Director, Optometry Giving Sight. “Nikki is one of our own. Her decades of history in optometry and her extensive nonprofit experience will be an invaluable asset as we continue our work to end preventable blindness and vision impairment due to uncorrected refractive error. We are excited to have Nikki on our team.”

Prior to joining OGS, Earich served as the Director of Development and Fundraising at The District 75 STEAM Foundation in Mundelein, Ill. During this time, Earich succeeded in raising funds and securing grants that ultimately enabled the foundation to award thousands of dollars to teachers and staff to create programs for students to further their professional development in the science, technology, engineering, arts, and math (STEAM) disciplines, and granted more than 100 scholarships to low-income families to attend STEAM camps and programs.

“It is exciting to make a full-time return to eye care in this capacity,” said Earich. “I have always been invested in changing lives with better vision and look forward to continuing to make an impact with OGS.”

Click HERE for the full press release.

GIGI Studios Presents TIME TO SHINE

The new GIGI Studios Spring/Summer 2023 designs feature sophisticated and uniquely stylish lines of the Vanguard collection. In optical eyewear, we find designs with finer contours and innovative constructions, such as LORENZA, which combines an acetate front with metal temples. Made of natural Italian acetate, German stainless steel and Japanese titanium.

Distributed by Mood Eyewear: www.moodeyewear.com

B + L Reports More Than 65 Million Units of Contact Lens, Eye Care and Lens Care Materials Recycled Through Recycling Programs

Bausch + Lomb

Bausch + Lomb announced its exclusive ONE by ONE and Biotrue® Eye Care Recycling programs have recycled a total of 65.8 million units, or 397,194 pounds, of used contact lenses, eye care and lens care materials, which is equivalent to the weight of three commercial-sized airplanes.

“Contact lenses, eye care and lens care materials are often not processed in standard recycling facilities due to their small size and the type of plastic used to manufacture them. As a result, they can potentially end up in landfills or waterways and contribute to plastic pollution,” said Amy Butler, vice president, Global Environment, Health, Safety and Sustainability, Bausch + Lomb.

The ONE by ONE Recycling program has collected more than 65 million units of used contact lenses, top foils and blister packs since its launch in 2016. The Biotrue® Eye Care Recycling program, the first and only eye care recycling program in the United States that launched in 2021, has collected more than 440,000 eye drop single dose units, lens cases and lens solution caps, as well as Biotrue® Hydration Boost lubricant eye drops multi-dose bottles.

Bausch + Lomb has a similar contact lens recycling program in Canada called Every Contact Counts. For more information visit www.bausch.ca/en-ca/every-contact-counts.

Click HERE for the full press release.

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