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Marchon To Launch New ETRO EYEWEAR Collection PDF
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Thursday, 16 October 2014

Etro EyewearMarchon Eyewear has announced the launch of the new ETRO EYEWEAR collection, beginning in September 2015.

Etro and Marchon signed an exclusive licensing agreement to design, manufacture and distribute the sun and ophthalmic collections ETRO EYEWEAR. The partnership aims to further increase the already significant position of Etro in the accessories world.

"It's a significant debut that represents for us a new challenge, and that gives us new energy. It comes from the need of completeness: The creation of an eyewear line is a further step in our creative and stylistic path, which contributes to the strengthening of our brand identity and heritage," stated Jacopo Etro, Creative Director of the Etro Accessories collections.

Claudio Gottardi, Marchon Eyewear President and CEO, commented: "The global licensing agreement with Etro represents Marchon’s strategic goals to expand our portfolio with compelling European luxury brands. The team at our Italian Design and Product Development Center will work in collaboration with Etro’s designers to interpret and translate the strong identity of the fashion house, including the iconic paisley motif, in order to conceive sophisticated eyewear collections featuring the high quality of ‘Made in Italy’ manufacturing.”

The ETRO EYEWEAR collection, 100% Made in Italy as every Etro collection, will be available starting September 2015 in Etro boutiques, renowned department stores, and select optical and specialty stores worldwide.

Second Chief Resigns at Luxottica and Shares Dive PDF
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Tuesday, 14 October 2014

After less than two months on the job, Luxottica CEO Enrico Cavatorta has reportedly resigned over disagreements with the company's founder and chairman Leonardo Del Vecchio.

Early last month Luxottica announced an evolution to a co-CEO leadership structure with distinct and complementary responsibilities. At the meeting Andrea Guerra announced leaving Luxottica as Group CEO after a 10-year period of organizational consolidation and managerial growth. Enrico Cavatorta, who was at the time General Manager and CFO of the Group, was appointed CEO of Corporate Functions. He was also named as Interim CEO of Markets, pending the appointment of a permanent executive to this position. 

Today, Luxottica announced the appointment of Massimo Vian, current Chief Operations Officer, with the mandate of co-CEO for Operations and Product. The Chairman Leonardo Del Vecchio takes on the executive responsibilities ad interim while the co-CEO of Markets selection process is being finalized.

As a consequence of these events the share price of Luxottica dived almost 10% on Monday.

Vision-Ease Lens Acquired By Private Equity Firm PDF
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Thursday, 02 October 2014

Vision-Ease Lens has announced its acquisition by Wind Point Partners, a Chicago-based private equity investment firm. Details of the deal were not disclosed.

Vision-Ease Lens is a leading, global manufacturer of branded ophthalmic lenses, including clear, photochromic and polarized lenses in polycarbonate, hard resin, glass and high-index materials. Its products are sold wholesale and through independent and retail eye care locations worldwide.

"This recapitalization with Wind Point Partners will enable our long-term growth in some key areas, while continuing our excellence in day-to-day operations," said Doug Hepper, president and CEO of Vision-Ease Lens. "The leadership team is investing alongside Wind Point to expand our business capabilities within and adjacent to our core competencies. We will also be able to devote more resources to global growth."

Wind Point Partners is a leading private equity firm investing with experienced management in well-positioned companies that have strong growth potential.

"Vision-Ease Lens is a strong investment for our firm because of its long-standing stability and position as a market leader in value-added ophthalmic lenses, as well as the breadth of its products and strong brand reputation," said Nathan Brown, a managing director at Wind Point Partners. "We will contribute Wind Point’s expertise and resources to build on these core strengths with increased internal investment and acquisitions."

Safilo Expands Its Presence in Middle East PDF
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Wednesday, 01 October 2014

Safilo Group strengthens its presence in the Middle East markets with the opening of a locally incorporated company, fully owned by Safilo, in Dubai, UAE. The newly opened showroom and office in Dubai will serve all customers of the United Arab Emirates, Kuwait, Bahrain, Qatar, Oman and Saudi Arabia, and function as Safilo’s Headquarter of the new Middle East and Africa region.

The new Safilo Middle East Free Zone Establishment (FZE) is opening at the Dubai Airport Free Zone (DAFZ), ranked amongst the top free zones in the Middle East and in the world, this Saturday September 20th, 2014, in a ceremony attended by His Excellency the Ambassador of Italy Mr. Giorgio Starace, DAFZ Vice GM Mr. Nasser Al Madani and Safilo Group CEO Mrs. Luisa Delgado. It includes 200m² of Italian designed showroom and offices, to showcase the full collections of all the 24 brands in Safilo’s prestigious international brand portfolio.

Through its new direct presence, Safilo will be able to fully leverage the exceptional luxury retail opportunity that the Middle East region offers to its highest quality brand portfolio, to deepen its partnership with its key customers building mutual trust based on a long term commitment, and to gain closer local consumer understanding.

The Middle East represents one of the top two Global Retail Destinations (according to CBRE) behind London, and ahead of New York.

Allergan to Hold Special Meeting PDF
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Thursday, 18 September 2014

Allergan, Inc. announced that it has reached an agreement with Pershing Square Capital Management, L.P. ("Pershing Square") and Valeant Pharmaceuticals ("Valeant") under which Allergan will hold the Special Meeting of Stockholders (the "Special Meeting") on the originally scheduled date of December 18, 2014, without restriction, and Pershing Square and Valeant will dismiss their pending litigation before the Delaware Court of Chancery. In connection, Allergan has established an October 30, 2014 record date for stockholders entitled to vote at the Special Meeting.

Given the Special Meeting will be held on the same date Allergan already announced, this recent announcement eliminates the distraction and cost of unnecessary litigation over the Company's bylaws and underscores the Allergan Board of Directors' long-standing commitment to providing stockholders with a forum to express their opinion on the value proposition offered by Valeant. Allergan continues to believe that stockholders should have the opportunity to make decisions regarding their investment in the Company based on compliant, full and fair disclosures, and to ensure that any stockholders voting on corporate matters acquired their shares in accordance with the law. If Allergan's motion is granted, the injunction would prevent Valeant, Pershing Square, and William A. Ackman from voting their shares at any meeting of stockholders. 

Safilo To Launch Product School in 2015 PDF
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Friday, 12 September 2014

Safilo Product SchoolSafilo is set to launch its Product School offering 3 year Apprenticeships to up to 10 young professionals every year, starting from 2015.

On the occasion of its institutional 80th anniversary, Safilo recalls the importance of its product creation, design, development, and manufacturing capabilities, and its historical reputation of offering the very best of Italian tradition through eyewear apprenticeships dating back as far as 1878. High quality eyewear craftsmanship at the heart of modern globally integrated quality business management is core to Safilo's strategy aimed at long term sustainable profitable growth. Safilo announces, therefore, the establishment of the "Safilo Product School" to give young apprentices starting their professional lives the opportunity to build foundational mastery across all Product functions, and then begin Safilo's career path to form the new generations of Eyewear Product Directors.

Entry into the program based on selection is open to talents coming from technical institutes or universities, and builds on international apprenticeship best practice combining on-the-job learning and job rotation including an international assignment in Safilo's worldwide operations, coaching by experienced Safilo managers and experts, and regular classroom training.

The focus is on Product Creation, i.e. from design to product development, from prototyping to manufacturing, materials, quality, pricing, and product concept selling. Safilo's values – quality, durability, and timeless design – together with its unique technological innovation, that changed the history of the eyewear industry and that have been present from the very beginning in the collection of glasses bearing the company's name, will be the basis on which the courses will be built.

Additionally, the program also covers the development of managerial skills and behavioral competencies, inspired by the company's way of doing business guided by the its Values and Principles, as just renewed for its 80th Anniversary.

The formal training will be administered in collaboration with national and international partners, i.e. Universities, Technical and Optical Product Certification Institutes, and Safilo's customer and supplier network, supplemented by its own global management team. The School will enhance the legacy of Safilo's Calalzo di Cadore site, the company's first establishment that today hosts more than three thousand pieces of eyewear belonging to the company's museum, and a unique worldwide archive of over 250,000 pairs of eyewear from the late 19th century to today. Safilo's heritage in product creation and development dates back to 1878, when the very first production site was established, and afterwards was acquired (in 1934) to become the modern Safilo in today's incorporation.

The Safilo Product School counts on the support of its prestigious License partners, who will play an active role in qualifying the apprentices at the end of the program. One special award has already been confirmed, sponsored by Dior, the prestigious French Maison of highest selective standards, and long standing partner of Safilo.

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