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EssilorLuxottica Challenges Decision of French Competition Authority (FCA)

EssilorLuxottica

EssilorLuxottica acknowledges that the French competition authority (FCA) has published a decision concerning Essilor International.

Related to an investigation opened in 2014, a Euro 81 million penalty is imposed on Essilor International (out of which Euro 15 million is to be borne jointly by its parent company EssilorLuxottica) for discrimination of online players and protection of brick & mortar retailers, in connection with the distribution of certain specific prescription lenses.

EssilorLuxottica firmly believes in its practices legality and in the relevancy of distributing specific segments of prescription products under conditions that enable us to ensure that consumers can get the best vision correction that is required by their individual vision needs.

The Company also restates that its practices were fully compliant with the competitive and regulatory contexts of the concerned period, and that they benefitted not only its customers and partners but also the whole industry.

EssilorLuxottica strongly disagrees with the FCA’s decision and will appeal it. The Company is confident that it will successfully demonstrate that the decision is ungrounded.

Click HERE for the full press release.

Marcolin: Positive Performance in First 9 Months of 2022

Marcolin’s Board of Directors approved on November 3rd the economic and financial results as of September 30, 2022.

In the first nine months of 2022, net sales rose by 21.0% based on current exchange rates compared to the same period of 2021 (increase of 13.9% at constant exchange rates), amounting to €409.7 million.

Compared to the same period of the previous year, sales increased in all geographical areas(figures at current exchange rates), notably in EMEA (+22.2%) and the Americas (+19.6%), which together account for more than 90% of net sales.

Adjusted EBITDA amounted to €50.5 million (equal to 12.3% of net sales), up compared to €42.0 million in the previous year. The trend in the adjusted EBITDA marginwas equally positive, standing at 12.3% of net sales.

These results were achieved thanks to an excellent sales mix, both in terms of brands and distribution channels, and the continuous effort on production and distribution efficiency, despite the increase in inflation which mainly impacted transportation and electricity costs.

Click HERE for the full press release.

Eye Care Event Hosted at Parliament Hill for National Eye Care Strategy

EssilorLuxottica

OneSight EssilorLuxottica Foundation and EssilorLuxottica recently hosted an event with 14 other eye care-related organizations on Parliament Hill to meet with key policymakers to discuss upcoming optical legislation, known as Bill C-284, intended to enact a National Eye Care Strategy.

Rick Gadd, President of EssilorLuxottica Canada and Essilor Instruments North America, and Kris Kelm, Head of OneSight EssilorLuxottica Foundation for Canada, hosted a group of NGOs and professional associations from across the industry, who met with members of parliament and senators to share about the current eye care ecosystem in Canada and the needs of its population. The key elements of these discussions revolved around access to eye care, awareness building, pathologies, and also the growing public health issue that myopia progression is becoming. The discussions were in direct support of the efforts to create a  National Eye Care Strategy.

Representatives from NGOs Operation Eyesight Universal, CNIB, Fighting Blindness Canada, Canadian Council of the Blind, the optometry departments of the universities of Waterloo and Montreal, the University of Ottawa ophthalmology department, Humanware, tech companies Lightx Innovation and Diagnos, The Northwest Company, the Ontario Opticians Association, the Canadian Association of Optometry, and the Opticians Association of Canada were also in attendance.

Rick Gadd, President of EssilorLuxottica Canada and Essilor Instruments North America:

“As a world leader in vision care, it is EssilorLuxottica’s responsibility to play a leading role in the industry. With cutting-edge innovation and resources to help eyecare professionals provide the highest quality of care and impact the lives of adults and children, we are proud to offer optometrists a full range of tools and resources to better serve Canadians. We are grateful to MP Judy Sgro for introducing bill C-284 and giving us the opportunity to create this event that allowed a broad spectrum of stakeholders to meet with Parliament to discuss the optical industry, the important innovations created now by doctors and researchers, and the public need.”

Since 2019, the Foundation team and its partners have performed school vision care pilots across Canada. Through these pilot programs:

  1. More than 26,000 underserved children were provided with vision screenings or eye exams across Ontario, Quebec, Manitoba, and British Columbia
  2. 40% of children screened were identified as potentially needing vision correction
  3. Of the children who were examined by an optometrist, more than 27% required prescription glasses
  4. During a one-week clinic at Ahkwesahsne Mohawk School in Cornwall, Ontario, 148 children and seniors were examined by an optometrist
  5. 100 of these patients required glasses, representing a need rate of 67.5%

Kris Kelm, Head of OneSight EssilorLuxottica Foundation for Canada:

“As the philanthropic arm of our corporation, OneSight EssilorLuxottica Foundation is committed to our mission to eradicate uncorrected poor vision in a generation. Sight does so much more than help us see clearly. It helps us perform better in school, connect more deeply with one another, and develop our full potential in life. We’re creating a world where a lack of access to vision care is no longer a barrier to human achievement and possibility. And we won’t stop until the world can see.”

The National Eye Care Strategy will “raise awareness of the impact of vision loss and blindness, improve eye health care and support, and fund innovative research to advance new therapies for vision loss.”

CooperVision Adds SynergEyes to Expand Specialty Contact Lens Adoption in North America

Deepening its commitment to expand specialty contact lens adoption in North America and worldwide, CooperVision has added SynergEyes to its CooperVision Specialty EyeCare business unit. The Carlsbad, Calif.-based company is widely known for hybrid lens technologies and brands, which span the treatment of irregular cornea, presbyopia, and astigmatism.

This development broadens CooperVision’s already extensive range of products and services. The addition creates a complete portfolio for the treatment of keratoconus and irregular cornea in North America and beyond, plus substantial opportunities to advance care for other common ocular conditions.

“Eye care practitioners are searching for ways to differentiate themselves, with a growing number embracing specialty contact lenses for their clinical and business advantages. Combining these two specialty segment experts provides a full range of options which delivers a continuum of care for keratoconus,” said Juan Carlos Aragón, OD, President, CooperVision Specialty EyeCare.

Since the first generation of SynergEyes hybrid lenses came to market in 2005, the company has continued to improve the multifaceted technologies required for success. Its brands include Duette®, UltraHealth®, and SynergEyes® iD Single Vision and Multifocal EDOF, as well as SynergEyes VS™ scleral lenses.

Over the next few years, manufacturing of SynergEyes products and materials will transition to CooperVision Specialty EyeCare’s recently opened production center in Gilbert, Ariz. GP Specialists, whom CooperVision acquired in 2021, has shared plans to move into that facility in 2023.

SynergEyes customers should continue to work with their current representatives. Terms of the transaction were not disclosed.

Click HERE for the full press release.

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