De Beers Makes Sweeping Cuts to Its Elite Diamond-Buying Club
The diamond company produced less than 22 million carats last year, down from almost 35 million in 2022.
eyewear
Latest News & Analysis
Luxury
EssilorLuxottica Sales Recover As Second Virus Wave Looms
The maker of Oakley and Ray-Ban showed signs of recovery. But a second coronavirus wave threatens another heavy blow to results.
EssilorLuxottica Sales Recover As Second Virus Wave Looms
The maker of Oakley and Ray-Ban showed signs of recovery. But a second coronavirus wave threatens another heavy blow to results.
Retail
Eyewear Brands Cash In on Our Screen-Time Overdose
With everyone working from home, brands and retailers have seen sales for blue light-blocking 'screen readers' surge. Has the pandemic helped the category find its feet?
Eyewear Brands Cash In on Our Screen-Time Overdose
With everyone working from home, brands and retailers have seen sales for blue light-blocking 'screen readers' surge. Has the pandemic helped the category find its feet?
Retail
Safilo's Sales Hit After Losing LVMH Brands
The Italian eyewear company said the exit of Fendi, Dior and Givenchy could result in a $220 million dent in sales.
Safilo's Sales Hit After Losing LVMH Brands
The Italian eyewear company said the exit of Fendi, Dior and Givenchy could result in a $220 million dent in sales.
Financial Markets
Safilo Acquires Californian Sunglasses Brand
The eyewear company has agreed to purchase 70 percent of Blenders Eyewear, in a deal estimated to be worth $90 million.
Safilo Acquires Californian Sunglasses Brand
The eyewear company has agreed to purchase 70 percent of Blenders Eyewear, in a deal estimated to be worth $90 million.
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News & Analysis
EssilorLuxottica Looks to Further Deals After GrandVision Purchase
After recently diffusing internal leadership rivalries and acquiring Grandvision for $8 billion, the Franco-Italian eyewear group is setting its sights on Asia, Africa and Latin America for expansion.
EssilorLuxottica Looks to Further Deals After GrandVision Purchase
After recently diffusing internal leadership rivalries and acquiring Grandvision for $8 billion, the Franco-Italian eyewear group is setting its sights on Asia, Africa and Latin America for expansion.
Luxury
Safilo Books €227 Million Write-Down in Wake of Dior Eyewear Loss
Safilo said earlier this month it would lose its license at the end of 2020 to use the Dior brand, which accounted for 14 percent of sales in the first half and which will likely go instead to LVMH's eyewear partner Marcolin.
Safilo Books €227 Million Write-Down in Wake of Dior Eyewear Loss
Safilo said earlier this month it would lose its license at the end of 2020 to use the Dior brand, which accounted for 14 percent of sales in the first half and which will likely go instead to LVMH's eyewear partner Marcolin.
News & Analysis
Ray-Ban Maker EssilorLuxottica Agrees to Buy GrandVision for $8 Billion
The deal was announced as the Franco-Italian eyewear company reported first-half earnings that beat analysts’ estimates.
Ray-Ban Maker EssilorLuxottica Agrees to Buy GrandVision for $8 Billion
The deal was announced as the Franco-Italian eyewear company reported first-half earnings that beat analysts’ estimates.
News & Analysis
Report: Ray-Ban Maker EssilorLuxottica Nearing Deal to Buy GrandVision
The Franco-Italian company and GrandVision’s controlling shareholder, HAL, could reach an agreement as early as this week, according to sources familiar with the matter.
Report: Ray-Ban Maker EssilorLuxottica Nearing Deal to Buy GrandVision
The Franco-Italian company and GrandVision’s controlling shareholder, HAL, could reach an agreement as early as this week, according to sources familiar with the matter.
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Sustainability
The Battle for Eyewear Behemoth EssilorLuxottica
This week, everyone will be talking about the fight for control of EssilorLuxottica, the apparel industry's sustainability mission at the Copenhagen Fashion Summit and the latest technologies on display at VivaTech. Read our BoF Professional Cheat Sheet.
The Battle for Eyewear Behemoth EssilorLuxottica
This week, everyone will be talking about the fight for control of EssilorLuxottica, the apparel industry's sustainability mission at the Copenhagen Fashion Summit and the latest technologies on display at VivaTech. Read our BoF Professional Cheat Sheet.
News & Analysis
The Latest Clash Between France and Italy Is Over Sunglasses
Shares in EssilorLuxottica, the world’s largest eyewear company, have slumped 22 percent since the two brands merged.
The Latest Clash Between France and Italy Is Over Sunglasses
Shares in EssilorLuxottica, the world’s largest eyewear company, have slumped 22 percent since the two brands merged.
News & Analysis
The Renegade Eyewear Brand Breaking All the Rules
Despite avoiding advertising, influencers and discount deals, British direct-to-consumer eyewear brand Cubitts has opened seven stores in five years and is in it for the long haul.
The Renegade Eyewear Brand Breaking All the Rules
Despite avoiding advertising, influencers and discount deals, British direct-to-consumer eyewear brand Cubitts has opened seven stores in five years and is in it for the long haul.
News & Analysis
Ace & Tate Plots European Expansion
With estimated 2018 revenues of $40 million, the Dutch direct-to-consumer eyewear brand is looking towards the UK and Germany to further its growth.
Ace & Tate Plots European Expansion
With estimated 2018 revenues of $40 million, the Dutch direct-to-consumer eyewear brand is looking towards the UK and Germany to further its growth.
The News in Brief
L’Oréal India in Talks to Acquire Beauty Company Innovist
L’Oréal is in advanced talks to acquire a majority stake in Bare Anatomy parent Innovist sources told The Economic Times India.
Zegna Chairman Says War Has Clouded Visibility of Demand in Middle East
The Italian fashion house cautioned the war is reducing visibility on demand in the Middle East, which accounts for 7 percent of its sales, though all stores are currently open in the region.
Glossier Appoints New CMO
Nicole Solorzano, who joins from Ouai, is the Millennial beauty brand’s latest hire.
Macy’s CEO Points to E-Shaped Economy, Signalling Consumer Shift
The mention of a forked economy by the head of America’s largest department store signals a heightened wariness that middle-income Americans will continue to spend at the same pace.
France’s Bid to Suspend Shein’s Marketplace Rejected by Appeals Court
The decision from Paris’ Court of Appeal marked a win for the fast-fashion giant after a scandal over sex dolls resembling children for sale on its site.
Coty Announces Board Revamp
The embattled Covergirl owner has appointed five new independent directors amidst a wider leadership and company shakeup.
Zimmermann Names Roberto Eggs CEO
The Moncler Group executive will succeed longtime CEO Chris Olliver, who is staying on as executive chairman.