The Vision Council releases Tariff Impact Report: Potential Industry impact from Eyewear Tariffs

The Vision Council releases Tariff Impact Report: Potential Industry impact from Eyewear Tariffs

The Vision Council’s research team released a first-of-its-kind report in September, which attempts to gauge how potential U.S. tariffs on Chinese eyewear could impact consumer buying habits, intentions and spending.

Through a questionnaire to recent eyewear buyers (those who bought ophthalmic frames, prescription lenses, Plano lenses, over-the-counter reading glasses and contact lenses) The Vision Council evaluated willingness of consumers to spend 10 to 25 percent more for the eyewear and lenses they already purchased. Using import data from the U.S. Census Bureau, the research team calculated which eyewear purchases would be in danger if tariffs on Chinese eyewear are implemented. The report outlines topline estimates of unit and dollar purchases that could be lost if tariffs are implemented on Chinese eyewear.
The report delves into which U.S. consumer demographic groups will be least and most affected by price increases resulting from tariffs on Chinese eyewear—with a special focus on recent prescription eyeglass buyers—and examines which consumers will postpone or cancel eyewear purchases due to both rising general prices and inflation (resulting from general tariffs on all Chinese products), as well as rising optical prices specifically from tariffs on eyewear.
The report concludes by investigating the strategies that consumers will use (i.e. spend less money on future eyewear purchases, extend the use of their eyewear to postpone buying, search harder for the best value, purchase eyewear online, etc.) to combat rising eyewear prices resulting from the implementation of tariffs on Chinese eyewear.

To download the full report, please click here. To learn more about this report and other market research, please contact Greg Chavez, The Vision Council’s executive vice president of operations and membership, at gchavez@thevisioncouncil.org or at 703-740-1399.
For more information on The Vision Council’s industry research visit thevisioncouncil.org.

Luxexcel opens Customer Demonstration Lab in Atlanta, GA.

Luxexcel announced yesterday the opening of the new US-based Customer Demonstration Lab in Alpharetta, GA (greater Atlanta area). The facility will house a full Luxexcel VisionPlatform™ system and supports the Luxexcel customer base.

Luxexcel Customer Demonstration Lab
“After opening our North American Headquarters in January 2018, we are ready for the next step by expanding to a fully operational Customer Demonstration Lab in Alpharetta. The demo location will strengthen the company’s North American customer support and will give US-based labs a unique preview of the Luxexcel VisionPlatform™ technology and its integration into a typical lab environment” said Guido Groet, Chief Commercial Officer Luxexcel. The Customer Demonstration lab will provide the opportunity to show the VisionPlatform™ creating ophthalmic lenses and will run sample production for selected strategic partners. In October, the Customer Demonstration Lab will be fully operational.

Luxexcel VisionPlatform™
The Luxexcel technology combines hardware, consumables and design-software in one ophthalmic lens 3D printing solution called Luxexcel VisionPlatform™. Ophthalmic labs receive the complete platform, which includes a printer (VisionEngine™), resins (VisionClear™), support and software solutions (VisionMaster™), in return for a base plus click fee payment. In addition, Luxexcel offers a VisionMaster™ virtual solution for those labs not ready yet for a full VisionPlatform™ called VirtualEngine™. Lenses produced are ISO Focal Power compliant and compatible with today’s industry coatings and customary processes.The Luxexcel VisionPlatform™ can be integrated into today’s ophthalmic lab workflow. Luxexcel is exhibiting at Vision Expo West 2018, Las Vegas, September 27-29. To learn more about the company and its latest developments, please visit booth #LP9109.

Luxexcel breaks into the next phase

Luxexcel, the pioneer in 3D printing of ophthalmic lenses, announced today the appointment of Fabio Esposito as Chief Executive Officer to lead the company in its next growth phase. Fabio brings to the company a strong track record of transforming businesses from technology innovators to established players. Throughout his career, he successfully led the introduction of disruptive technologies to the market including Optical Systems and 3D Printing.

Hans Streng outgoing CEO Luxexcel: “After several years at the helm of Luxexcel, I am ready to enjoy more time with my family. I am proud to have been able to bring Luxexcel together with the management team and our dedicated employees to this level. With Fabio, I am convinced we have found the perfect CEO to lead Luxexcel through the next phase”.

Fabio Esposito, CEO Luxexcel: “I am excited to join the Luxexcel team in this pivotal phase of the company’s growth. Building on the success achieved under Hans’ leadership, the focus will now be ramping up commercialization and product development. We will continue to capitalize on the introduction of the VisionPlatform™ as well as expanding the team to grow Luxexcel to the next stage.”
Alongside the appointment of the new CEO, Luxexcel announced today that it has raised $13.9 million (€12 million) C-round funding led by Innovation Industries with the participation of its other existing investors. This funding allows Luxexcel to accelerate its growth while expanding towards the new world of smart prescription glasses.
Participating in this equity round are Innovation Industries (the Netherlands), SET Ventures (the Netherlands), Munich Venture Partners (Germany), PMV regional investment fund (Belgium) and KLA-Tencor Corporation (United States of America).

Nard Sintenie, Partner at Innovation industries: “We are impressed by both the progress Luxexcel has been making in developing this great technology as well as the traction the products are getting in the eyewear market. With the new CEO and this funding, Luxexcel will scale her business and the installed base of the VisionPlatform™.” With the strengthening of its management team, the support of its strong investor base and the scale-up of the business an exciting new phase for the company has started.

Transforming lives through the gift of vision

Transforming lives through the gift of vision

WestGroupe is a proud supporter of Optometry Giving Sight. The company offers in Canada a complete frames & lens package with the Superflex collection in partnership with Zeiss lenses. Together they have raised over $20,000 to date. From every package sold, WestGroupe and Zeiss donate a portion to Optometry Giving Sight. The funds raised benefit Optometry Giving Sight’s 47 projects in 24 countries for affordable and accessible eye care for the world’s most vulnerable populations.

Optometry Giving Sight is the only global fundraising initiative that specifically targets the prevention of blindness and impaired vision due to uncorrected refractive error – simply, the need for an exam and a pair of glasses. More than 600 million people around the world are blind or vision impaired because they do not have access to the eye examination glasses they need.

For more information about Optometry Giving Sight please visit www.givingsight.org