Botswana Said to Near Agreement on Size of Its De Beers Stake
Ongoing talks between the nation’s government and Global Diamond Consortium are likely to see Botswana boost its stake in De Beers by 10 percent.
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.
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?
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.
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.
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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.
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.
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.
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.
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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.
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.
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.
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.
The News in Brief
Rolex and Gold Were for US and Not Trump, Swiss Trade Chief Says
The goods delivered last November by a business delegation seeking relief from Trump’s onerous tariffs became a matter of national controversy in Switzerland.
Galderma to Acquire ZO Skin Health for $1.5 Billion
The Swiss firm agreed to purchase the medical-grade skincare company from private equity firm Blackstone and the founding Obagi family to expand its US portfolio.
Report: Beauty Ingredients Among Highest Risk for Human Rights Abuses
A new analysis of eight widely used cosmetics ingredients by Verisk Maplecroft found widespread exposure to child and forced labour risks, with palm oil, cocoa and shea nuts among the most problematic commodities.
Joe Corré’s Light House Club Launches Pop-Up Spaces for Emerging Designers
Independent creatives can apply to utilise pop-up spaces at Light House to sell merchandise and meet with clientele.
Givaudan Sales Beat Expectations on Fine Fragrance Strength
A surge in sales of scents for luxury perfumes and a continued recovery in flavours drove the Swiss firm’s organic sales growth clearly beyond market expectations in the third quarter, lifting its shares on Tuesday.
Mike Ashley’s Frasers Boosts Position in Burberry
Frasers Group Plc now possesses over 7 percent of the British label’s voting rights, placing it on track to be the brand’s biggest investor.
Isamaya Ffrench Has Departed Namesake Brand
The makeup artist has not been involved with Isamaya Beauty for over a year, sources told The Business of Beauty.