Blog

April 13, 2022April 13, 2022

Luxottica Undertakes to Acquire 90.9% of Fedon to Enter Packaging, Eyeglass Cases Industry

Luxottica Group announced that it has entered into a preliminary sale and purchase agreement for the acquisition of a total of 1,727,141 shares of the company Giorgio Fedon & Figli S.p.A., listed on Euronext Growth Milan, the market organized and managed by Borsa Italiana S.p.A., representing 90.9% of the share capital of the Company. The transaction represents a step forward in EssilorLuxottica’s vertical integration strategy.

Thanks to cutting-edge technologies and dedicated innovations, the acquisition will allow to better fit the eyewear and spectacles with the cases and packaging to ensure maximum protection and integrity of the product.

Furthermore, EssilorLuxottica will also leverage on the Company to pursue its sustainability strategy, investing in the recyclability and circularity of the packaging materials produced by the Company.

It is expected that the Conditions Precedent may be fulfilled, and the Closing may take place by the end of June 2022.

In the event of completion of the transaction, Luxottica will hold a shareholding equal to 90.9% of the Issuer’s share capital and will be required to launch a mandatory tender offer on all outstanding shares of the Company (“MTO”), at the same price of Euro 17.03 per share.

The MTO is aimed at delisting the Company.

Click HERE for the full press release.

April 13, 2022May 24, 2022

Eschenbach Introduces New Acunis FL-41 Filters

Eschenbach Optik of America introduces its new Acunis FL-41 filters which are designed for patients with light sensitivity due to migraines, traumatic brain injury and other eye conditions. In contrast to conventional sunglass lenses which attenuate all light wavelengths evenly, the Acunis FL-41 lenses reduce the transmission of select light wavelengths responsible for glare.

Click HERE for the full press release.

April 11, 2022April 8, 2022

The Eye Shoppe: a Profile

By Shan Khan

The shift to online retailing has changed the game for many in the optical industry. While some consumers may find online buying suits their needs, its clearly not the best solution for everyone. By offering superior products, comprehensive care — and most importantly, education and information —The Eye Shoppe of downtown Oshawa aims to continue to satisfy its loyal customer base “in person” for years to come.

The Eye Shoppe has been a consistent presence in the heart of Oshawa’s downtown core for more than 30 years. It features a rare but highly effective business model, with the dispensary serving as a key component of a broader practice that includes onsite ophthalmologists and optometrists to support patient care. The cross-functional team of eyecare professionals collaborates closely to ensure that each patient receives the best possible outcome — a formula that keeps clients coming back.

Keeping Quality in Mind

Visitors to The Eye Shoppe are welcomed into a spacious, light-filled showroom that emits a casual, yet professional atmosphere. The store carries eyewear from a number of mainstream brands, Reva and Costa sunglasses, and original, alternative offerings from independent producers including Etnia Barcelona, Lafont, N49 and Faniel.

Similarly, the team maintains strong relationships with a number of lens representatives and labs, which are viewed as knowledgeable, supportive partners in the business of providing patients with the best possible vision correction solutions for their work and home environments.

Streamlined Experience

While the pandemic disrupted the shop’s traditional processes, it has also created opportunities to streamline and improve operations, Wael points out. The store’s location in a standalone building provides control over capacity limits, and customers seeking new frames are required to make an appointment to ensure numbers remain safely within public health guidelines. Use of technological advancements in measuring, such as the Essilor Visioffice, allows The Eye Shoppe optometry staff to take accurate patient measurements while maintaining a safe social distance.

Wael Yassein

As the industry continues to evolve and experience inevitable disruption, Wael proudly supports the Ontario Opticians Association as a single, unified voice for the industry. By emphasizing the value of personal interactions and professional expertise, he is confident that the bricks-and-mortar optical model can continue to thrive.

To read the full article, go to Optik Magazine, March-April 2022 issue!

April 8, 2022April 8, 2022

National Vision Awards $12,500 to 2021-2022 Scholarship Program Winners

National Vision, Inc. named the winners of its seventh annual scholarship program, awarding three optometry students the program’s largest scholarships to date. Applicants were asked to share their perspectives on the importance of affordable primary eye care in an evolving health care environment.

“We received more entries this year than ever before, which clearly shows that the next generation of optometrists share in our passion for primary care optometry,” said Alex Louw, chief medical officer, National Vision.

Juan Giraldo, Alicja Biniek, Aliya Shafi

The 2021-2022 scholarship program winners include:

First Place ($7,500): Juan Giraldo, University of Waterloo, School of Optometry and Vision Science, Class of 2022
Runner-Up ($2,500): Alicja Biniek, Illinois College of Optometry, Class of 2022
Runner-Up ($2,500): Aliya Shafi, University of Waterloo, The School of Optometry and Vision Science, Class of 2022

Giraldo was the first-ever repeat winner for the program, which is open to third- and fourth-year optometry students. This year’s prompt gave students the option to submit video or written essays addressing how they would be part of the solution to a problem millions of Americans face — not being able to afford an eye exam. All three winners offered unique, informed takes on their plans for making a difference as practicing optometrists.

Click HERE for the full press release.

April 8, 2022April 8, 2022

COS Reminds Athletes Importance of Protective Eyewear this Sports Eye Safety Month

With the NHL hockey playoff season underway, April also marks Sports Eye Safety Month, and the Canadian Ophthalmological Society (COS) is reminding all athletes and sports enthusiasts to protect their vision and help avoid any serious eye injuries that could affect their season. Despite eye injuries being common, 38% of Canadians said they rarely, or never, wear protective eyewear when participating in outdoor sports, according to a 2021 survey conducted by the Canadian Ophthalmological Society.

“Over the years, I’ve seen a fair number of sports-related eye injuries from lack of protective eyewear, especially in hockey due to direct puck strikes,” says Dr. Bryce Ford, an ophthalmologist for the Calgary Flames and a Clinical Associate Professor of Ophthalmology at the University of Calgary. “Accidents in sports are common, so wearing protective eyewear can help reduce injuries such as eyelid lacerations, corneal abrasions or more severe injuries such as retinal detachments which can cause complete vision loss.”

While sports injuries are common, certain sporting organizations and leagues are making strides in ensuring the safety of players. For instance, in 2013, the NHL enacted a rule that said unless a player had already played 25 games in the NHL without one, wearing a visor is mandatory. The Canadian Journal of Ophthalmology (CJO) published research in September 2020 on the effectiveness of widespread visor adoption by assessing eye injury rates during the 2010–2018 seasons. The research showed a strong decrease in the number of eye injuries and a moderate decrease in the number of missed games once the visor rule was in effect.

“The research highlights the success of visors and proves that eye protection actually works,” adds Dr. Ford. “These days, I see more eye injuries from visorless recreational hockey players, racquet sports, and other sports such as paintball.”

The Canadian Ophthalmological Society urges everyone participating in sports to wear protective eyewear appropriate for the sport or activity. Parents can also teach their children early on to help get them in the habit of wearing protective eyewear to avoid an injury or damage to their eyesight.

Click HERE for the full press release.