Luxembourg and Charenton-le-Pont, France (October 1, 2018) – Delfin S.à.r.l (“Delfin”), the majority shareholder of Luxottica Group S.p.A. (“Luxottica”) and Essilor International (Compagnie Générale d’Optique) (“Essilor”), announced the successful completion of the combination of Essilor and Luxottica. The combined holding company named EssilorLuxottica is a global leader in the design, manufacture and distribution of ophthalmic lenses, prescription frames and sunglasses.
All conditions precedent to the closing of the transaction have been satisfied, including approval by Essilor shareholders in May 2017, the hive-down of substantially all Essilor activities to Essilor International SAS (a wholly-owned subsidiary of Essilor) in November 2017 and clearance from all antitrust authorities whose authorization was a condition precedent to the closing of the transaction.
Following the contribution by Delfin, the majority shareholder of Luxottica, of its 62.42% stake in Luxottica to Essilor on October 1, 2018, Essilor became the parent company of Luxottica and was renamed EssilorLuxottica.
As consideration for the contribution by Delfin of its stake in Luxottica to Essilor, Essilor issued 139,703,301 new ordinary shares through a capital increase without preferential subscription rights pursuant to a resolution approved by Essilor shareholders in May 2017.
Following the closing, EssilorLuxottica has a share capital made of 358,840,853 shares. Its main shareholders are Delfin (38.93% of capital with voting rights capped at 31%) and EssilorLuxottica employees (4.9%). The remaining 56.8% of the shares are being publicly held.
EssilorLuxottica will soon be launching a Mandatory Exchange Offer for the remaining issued and outstanding Luxottica shares. Following the Mandatory Exchange Offer, the interest held by Delfin would decrease to a minimum of 31% of the share capital of EssilorLuxottica depending on the acceptance rate of the Mandatory Exchange Offer1.
EssilorLuxottica draws the attention of its shareholders to the fact that the closing of the contribution and the results of the Mandatory Exchange Offer could trigger upwards or downwards threshold crossing notifications by certain of its shareholders pursuant to French law and/or EssilorLuxottica by-laws.
As from October 2, 2018, EssilorLuxottica shares will be traded on Euronext Paris, under the ticker symbol EL with the same ISIN code FR0000121667. They will be part of the CAC 40 and Euro Stoxx 50 indices.
EssilorLuxottica will launch in due course, in accordance with Italian law, a Mandatory Exchange Offer to acquire all remaining issued and outstanding shares of Luxottica not already owned by EssilorLuxottica with a view to eventually delisting Luxottica’s shares from trading.
For further information please see the specific notice on the Mandatory Exchange Offer which was published by EssilorLuxottica today under article 102 of the Italian Consolidated Financial Act.
During the first part of 2019, EssilorLuxottica will present its first combined annual results and is expecting to hold a Capital Markets Day for investors and analysts.
The 52nd edition of the International Optical Fair demonstrated its appeal on this rather dynamic global market with a satisfying turnover. Over four days, more than 37,000* professional visitors (56% of international) were able to admire the creativity of the 965 exhibitors in attendance, including 230 new companies exhibiting for the first time; and to enjoy all the features that help make SILMO Paris, the great professional trade fair, so unique and open to the world. “We are living up to our slogan, ‘so much more than just a fair,’” states Eric Lenoir, SILMO director. The event is a truly multifaceted instrument designed for all the facets of the sector: it optimises the array of exhibitors by additionally providing information, training and trend monitoring for a 360° view of our industry.” “It is marvellous to see all the creativity and energy in the aisles of the trade fair,” remarks Amélie Morel, Chairwoman of Silmo Paris.”
*Key figures of SILMO Paris 2018.
965 exhibitors including 77% foreign exhibitors
1 548 brands
230 new companies
80 000 sqm. of exhibition area
A review of the highlights of this 2018 edition.
A global new space, SILMO NEXT took a look at the future with THE SELECTION of Trendy Products, which appears in the digital magazine TRENDS by SILMO. Unveiling the style and design forecast for 2019, the publication is available for consultation at all times on the trade fair website (silmoparis.com).
The concurrent and complementary FUTUROLOGY forum presented the products, services and technologies of tomorrow, drawing connections between
well-established brands and start-ups to highlight four themes of the new markets: sports, well-being and health, entertainment, and 3D printing.
Technological companies such as Garmin, McLaren, Matérialise, Everysight, 5th Dimension, LightVision, Microoled, Atol, Cinemizer, and others presented their points of view, combining them with those of optics professionals to inspire future innovations to better rise to tomorrow’s challenges.
The international dimension of SILMO Paris has lead the organizers to welcome this year the International Opticians Association, or IOA, which honored for the first time, one personality who has contributed to the development and excellence of the optical profession. This award was given by Fiona Anderson, President of IOA and Elaine Grisdale, Director of Development of IOA, to Robert Grimard – Canadian Optician.
Since 2010, SILMO ACADEMY has been supporting ophthalmic optical professionals in their pursuit of excellence by proposing scientific workshops
and seminars through which they may perfect their knowledge and speak with experts from each field. The 9th edition of this scientific conference brought together more than a hundred opticians who learned about functional visual development with a training course on the theme “Vision and Growth, 0 to 20 years of age”, featuring a programme led by top scientists.
Following this day of discussion, the coordinators of the SILMO ACADEMY awarded a grant of 10,000 euros to Jan SKERSWETAT, from Departement of Vision and Hearing Science, Anglia Ruskin University, Cambridge. This grant encourages and acknowledges research in the field of vision. It offers
an opportunity for researchers to publish their work and gain exposure.
Alexandria, VA – October 3, 2018 – Vision Expo West’s 30th anniversary was a sweeping success, with the overall Show experiencing a nearly double digit increase in attendance compared to 2017. Pre-audited results show close to 13,000 eyecare professionals from across the world attended the event; with attendance increasing in nearly every category and substantial increases in attendance titles of Opticians and Optometrists, as well as in Independent OD and MD practices, multidisciplinary practices, chains/superstores and laboratories.
Of those in attendance, over 4,500 participated in the various education programs learning the latest in contact lens, business solutions, optical technology, retail strategies, clinical concepts and more. The buzz extended beyond the convention center with Vision Expo’s social channels garnering over 3.8 million impressions, an 11% increase from last year.
OptiCon @ Vision Expo, a dedicated program for Opticians and Contact Lens Technicians, had a successful debut at Vision Expo West, with almost 700 packages sold and a record turnout of attendees at the party and OptiCon Hub. Throughout Vision Expo West, a variety of other events and celebrations seamlessly combined networking with education on and off the Show Floor to provide attendees the opportunity to connect and collaborate. Heavy foot traffic was evident throughout the halls, including new Exhibit Hall neighborhoods, BLOCK and NEXT, featuring new exhibitors and standing room only fashion shows and panel discussions.
Exhibitors created unique experiences and memorable environments for attendees, starting at registration and extending throughout the Exhibit Hall. Winner of Best Brand Activation in the Best Booth Awards, Europa Eyewear/STATE Optical Co, created a 3D virtual experience giving attendees an inside-look at their manufacturing process. Costa took home the Best Booth Award for Most Creative Booth Design. The winners of this year’s Vision Choice Award, in which attendees can view and vote for the best product featured in the Product Gallery, included first place winner, Miraflex; second place winner, Lunette; and third place winner, Mó Eyewear.
Vision Expo East 2019 is around the corner, taking place from March 21–24 at the Javits Center in New York City, and Vision Expo West 2019 dates are set for September 18–21 back at the Sands. Plans to expand successful programs from this year’s Vision Expo West will provide the vision community the opportunity to learn and grow in their careers while guiding the industry forward.
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 firstname.lastname@example.org or at 703-740-1399.
For more information on The Vision Council’s industry research visit thevisioncouncil.org.
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.
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.
IOT is dedicated to innovation in optical technology. As a result, the company is in a constant state of growth and evolution. IOT’s change in brand identity is part of an overall strategy to better communicate its unique culture, values and approach to market. The new website and social media profiles were designed to help the company share optical knowledge as well as information about IOT products, services and the unique experience of partnering with IOT.
IOT was founded in Madrid, Spain in 2005 with a singular focus on free form digital lens design. Over the past 13 years it has become a global leader in optical technology including not only design, but also photochromic lenses, foundational ophthalmic lens research and consulting services that include wearer trials, lens processing, professional education and industry and consumer marketing.
Carolina Gago, General Manager of IOT explains the reason for the change: “IOT has evolved significantly since it was founded and we had the desire to better transmit who we are today and celebrate a new era. Our new corporate look represents our greatest commitment, which is give our customers the newest solutions they need to be successful and to completely customize those solutions to their businesses. Our new corporate look was also designed to take us into the future. We anticipate amazing things to come for the future of the ophthalmic lenses”.
The new logo retains the three letters I, O and T, which are now lowercase in thick typography and simple shapes to transmit strength and closeness. The line of the top of the logo is an incline, showing a vision of the future, and the line at the bottom is straight reflecting a solid base. The center of the O is a negative image of an eye with light entering it. This symbolizes both IOT’s core business, optical technology, and its openness to freely sharing knowledge and expertise with partners to help them create their own vision of success.The brighter blue color works in conjunction with the new shape to create a logo that is unique, modern and innovative, like IOT.
Daniel Crespo, President and CEO of IOT, says:” Our new corporate image embodies
the philosophy of the company. We put our partners at the center of our business, so we can work together as one team and create solutions that are completely customized to their businesses. It is our mission at IOT to offer our business partners the technology and services they need to manufacture the best lenses in the world.”