Vuarnet’s new Cable Car Pantos is the latest addition to the brand’s popular Cable Car Collection. Elegant curves and clean design lines define this well-balanced and compact frame, ideal for those looking for a smaller frame profile. Like all Vuarnet sunglasses, the Cable Car Panthos features mineral lenses that offer the very best optical clarity, maximum protection, extreme durability and deliver the ultimate in visual comfort.
Distributed by Vuarnet : www.vuarnet.com/ca
Padua/Santiago de Chile – Safilo Group announces an exclusive distribution partnership agreement for Chile with Valente Eyewear & Trade, leading local operator of long standing tradition, proven capability and industry trust.
Product centric, brand driven and design inspired, Safilo dates its craftsmanship tradition back to 1878, and today offers more than 30 leading brands across all consumer segments – exciting and fast-growing Mass/Cool with Polaroid and Havaianas; Lifestyle Carrera, Tommy Hilfiger, Kate Spade, Marc Jacobs; Sports and Outdoor Smith; Premium Boss and Max Mara; Fashion/Luxury Dior, Jimmy Choo, Fendi, Givenchy; and highest-end Atelier Elie Saab, Oxydo; and Specialist Safilo.
“We are committed to broaden the market offer in Chile with our globally leading eyewear brands of trend setting design and technical product sophistication. We see an opportunity in Chile for international eyewear brand building and further development of eyewear retailing across all our segments,” says Luisa Delgado, CEO of Safilo. “We are delighted to welcome Valente Eyewear & Trade to our global Partner Network. With their proven 30-year industry track record and capability, they are uniquely positioned to offer for us to local retailers the best industry standards of customer service, in store communication and merchandising, and to lead local consumer engagement with specific focus on our own core brands.”
“We are proud to have the opportunity to partner with Safilo to build their brands in Chile. We will focus on targeted distribution, highest levels of local service, and local consumer communication. Safilo is recognized worldwide for the industry leading design and quality of its eyewear, and high distribution standards. It is an honour for us to work with Safilo for the long- term development of that business model in our country,” say Álvaro and Maria Valente, owners of Valente Eyewear & Trading.
The Chilean market is a further addition to Safilo’s Latin America Division (LA), established in late 2013 in the context of its 2020 Strategic Plan. LA encompasses subsidiaries in Brazil and Mexico, a Miami based regional office with a global Showroom, and partner markets across key LA countries, namely Argentina since last year, and now Chile. The region’s development has been spearheaded by strong Brand PR & communication supporting a commercial strategy of qualitative distribution, in store communication and merchandising, and open trade terms based on performance, that have resonated in building partnerships of trust with retail customers across Latin America.
Click HERE for full press release.
Silmo International partners are extending their reach into promising new markets once again. Following Silmo Istanbul and Silmo Sydney, the brand is set to make its debut in Bangkok.
Organized by IMPACT Exhibition Management Co., Ltd., the first edition of Silmo Bangkok is scheduled for 20-22 June 2018 in IMPACT Exhibition and Convention Center, located in Bangkok, Thailand’s exciting capital city.
Silmo Bangkok aims to become the gathering trade platform in Thailand and will host brands and companies from across the optical and eyewear sector including frames, lenses, materials, equipment and business services.
With strong economic development, a growing middle-class population and a youthful and fashionable population, Silmo Bangkok is poised to be the gateway to ASEAN, tapping into a vibrant and growing eyewear market.
Click HERE for the full press release.
New Look Vision Group reports the results for the second quarter and the year-to-date period ended July 1, 2017, their quarterly dividend and comments on the outlook of the business.
The second quarter was a solid quarter with respect to revenue growth from both comparable and recently acquired stores. The quarter ended successfully as New Look Vision entered into a definitive agreement to acquire all of the issued and outstanding shares of IRIS, The Visual Group. The acquisition is expected to close on or about October 1, 2017.
Second quarter results
New Look Vision reported record revenues of $55.4 million and adjusted EBITDA of $10.9 million for the second quarter ended July 1, 2017, representing increases of 9.7% and 5.2% respectively over last year. The increases were mainly due to the net addition of 15 stores in the last twelve months as well as same store sales growth of 4.6% over last year.
Adjusted net earnings attributed to shareholders, defined as net earnings adjusted to remove the impact of acquisition-related costs, equity-based compensation, and other non-comparable costs, for the second quarter were flat at $4.6 million compared to last year.
Adjusted net earnings per share for the quarter compared to the second quarter of 2016 were also flat at $0.33 per share. Net earnings attributed to shareholders were $2.6 million, compared to $4.1 million last year, the decrease being mainly due to higher acquisition costs, equity-based compensation, and other non-comparable costs.
Cash flow from operating activities before income taxes paid and changes in working capital items was $9.1 million or $0.66 per share in the second quarter of 2017, down from $9.8 million or $0.71 per share last year. However, when adjusted for acquisition related costs and other non-comparable costs, adjusted cash flows from operating activities are $10.8 million or $0.78 per share, an increase of $499 thousand, or 4.9% over last year. Income tax instalments paid in the second quarter of 2017 were $0.7 million compared to $1.5 million for 2016.
Year-to-date results
Year-to-date revenues and adjusted EBITDA reached a record of $106.4 million and $18.8 million respectively, which represent increases of 11.9% and 6.5% respectively over last year. Net earnings attributed to shareholders were $3.9 million ($0.28 per share) compared to $5.9 million last year ($0.43 per share). Net earnings adjusted to remove the impact of acquisition-related costs, equity-based compensation, and other non-comparable costs were $7.0 million, or $143 thousand over last year. Adjusted net earnings per share (diluted) remained flat at $0.50 in comparison to last year, despite additional depreciation and amortization and additional shares issued since the beginning of the second quarter of 2016. Comparable store sales year-to-date were up 3.3% over last year.
Cash flow from operating activities before income taxes paid and changes in working capital were $16.2 million or $1.17 per share in the year-to-date period compared to $16.5 million or $1.19 per share last year, the decrease being mainly attributable to increased acquisition-related costs and other non-comparable costs. Whereas, adjusted cash flows from operating activities were $18.6 million or $1.34 per share, an increase of $1.2 million, or 7.1% over last year. In the first six months of 2017, New Look Vision made total tax payments of $2.4 million compared to $4.2 million in 2016, including prior period adjustments and current year instalments.
Click HERE for the full report.
How to translate seduction into optical frames? It is that question that Vinyl Factory designers asked themselves.
Crowned with materials that look just like gems, the Imbruglia model is their answer!
Distributed by Optiman Inc.: www.optimaninc.com
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