|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||134.35 - 136.60|
|52 Week Range||95.50 - 136.70|
|Beta (3Y Monthly)||0.57|
|PE Ratio (TTM)||41.44|
|Earnings Date||Feb 27, 2019 - Mar 4, 2019|
|Forward Dividend & Yield||2.04 (1.52%)|
|1y Target Est||124.83|
The proposed deal would give SoftBank more than a 50 per cent stake in the company, but it was unclear if the group — which is WeWork’s largest backer — would repurchase all of its outstanding stock.
A grainy photograph inside the entrance of his first factory shows how far Leonardo Del Vecchio has come. It is of a portacabin deep in the Dolomites, where in 1961 Italy’s second-richest man founded a business that in the more than half century since has grown in to EssilorLuxottica, the world’s biggest maker of eyewear and lenses. As he approaches 85, Mr Del Vecchio’s appetite for the cut and thrust of business might have been expected to tail off.
Disclosure of Share Capital and Voting Rights Outstanding as of September 30, 2019 (Pursuant to Article L.233-8 II of the French Commercial Code and articles 221-1 and 223-16.
London, United Kingdom (September 25, 2019 – 7:00 pm CET) – EssilorLuxottica, a global leader in the design, manufacture and distribution of ophthalmic lenses, frames and sunglasses, hosted its 2019 Capital Markets Day in London today, presenting its strategic vision, integration progress and long-term financial guidelines. “This is a milestone moment for EssilorLuxottica because we have successfully mapped out our go-forward strategy and initiated the first concrete moves of the integration.
Today we'll evaluate EssilorLuxottica Société anonyme (EPA:EL) to determine whether it could have potential as an...
Disclosure of Share Capital and Voting Rights Outstanding as of August 31, 2019 (Pursuant to Article L.233-8 II of the French Commercial Code and articles 221-1 and 223-16 of.
When we invest, we're generally looking for stocks that outperform the market average. And while active stock picking...
Third Point, run by billionaire investor Daniel Loeb, is targeting EssilorLuxottica amid a power struggle inside the world's largest lenses and glasses manufacturer, following its formation last year through a 48 billion euro ($53 billion) merger of France's Essilor and Italy's Luxottica. Billed as a merger of equals, it degenerated into a battle over control between Luxottica's founder Leonardo Del Vecchio and Essilor's chief Hubert Sagnieres.
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...
(Bloomberg Opinion) -- It took three years, but Snap Inc. has finally worked out a wise pricing strategy for its Spectacles smartglasses, which incorporate an embedded camera to record short video clips.That’s not just because the new sticker price of $380 for the third generation of glasses, announced Tuesday, will let the social network milk a healthier gross margin from each pair than the previous two versions, which were were priced at $130 and $150 respectively. The higher price point could also counterintuitively help Snap sell Spectacles in more stores.It can be hard to persuade people to buy sunglasses they can’t try on, so an in-store presence is essential. Since Snap introduced Spectacles in 2016, the company has struggled to persuade eyewear distributors to stock them because of their cost, which competed with non-smartglass offerings. The low price also made it harder for the smartglass industry as a whole by making consumers accustomed to cheaper products.Consider EssilorLuxottica SA, the French-Italian firm that dominates the U.S. eyewear market — Jefferies analysts estimate its share of the global market is 30%. It owns Ray-Ban, Oakley, LensCrafters, Sunglass Hut, Persol, Sears Optical and many other brands. Although the company’s business is vertically integrated — it makes the lenses and frames and then sells them in its own stores — it doesn’t have a major smartglass offering.That might have created an opening for Snap to persuade the firm to stock its Spectacles, which are made by the Chinese contract manufacturer Goertek Inc. The problem was that they were sold more or less at cost, meaning there was little scope for the retailer to make a profit. What’s more, at $130, they undercut Ray-Ban’s own Wayfarer Classics, which cost $153, but with more functionality.. Those glasses helped EssilorLuxottica deliver a 63% gross profit margin last year. The Charenton-le-Pont, France-based firm would have cannibalized its own sales for no profit. By lifting the price to $380, Snap will not only do more to cover its own costs but make it more attractive for third parties to sell the glasses in their stores. And by making them limited edition, Snap is less likely to risk a repeat of the $40 million writedown for unsold inventory it had to take in 2017.Whether the glasses are priced attractively enough to draw consumers is a different issue. But getting the glasses into stores will only help bolster their revenue, which was “not material” to earnings in the second quarter. Snap CEO Evan Spiegel should have opted for a higher price from the outset.To contact the author of this story: Alex Webb at email@example.comTo contact the editor responsible for this story: Daniel Niemi at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Alex Webb is a Bloomberg Opinion columnist covering Europe's technology, media and communications industries. He previously covered Apple and other technology companies for Bloomberg News in San Francisco.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Disclosure of Share Capital and Voting Rights Outstanding as of July 31, 2019 (Pursuant to Article L.233-8 II of the French Commercial Code and articles 221-1 and 223-16.
Publication of the 2019 Interim Financial Report Charenton-le-Pont, France (July 31, 2019) - The Board of Directors of EssilorLuxottica met yesterday to approve the condensed.
(Bloomberg Opinion) -- You don’t need 20-20 vision to see who was the driving force behind EssilorLuxottica SA’s $8.1 billion agreed purchase of GrandVision NV. Leonardo Del Vecchio, the acquirer’s forceful chairman and biggest shareholder, said in the deal statement that the transaction was the realization of a long-held dream for him.Del Vecchio has already combined his Italian eye-frame designer Luxottica, home to the Ray-Ban brand and many others, with the French lens maker Essilor in a $53 billion merger. GrandVision adds a third element: An optical retail division that spans Europe, including the Vision Express chain. This gives the group even more control over the eye-care process, from manufacturing to contact with end customers. Analysts at Bloomberg Intelligence don’t, however, foresee any antitrust problems – after all, the first much bigger deal was waved through.That the GrandVision purchase was so personally dear to Del Vecchio perhaps bodes well for future harmony at EssilorLuxottica, which had been riven by tension between the 84-year-old Italian billionaire and Hubert Sagnieres, the Essilor boss and vice-chairman of the combined company. The two did reach a fragile truce back in May, but making an $8 billion purchase is certainly bold given that the original Essilor-Luxottica merger was only completed in October.The fact that the two sides have managed to patch things up to the extent they were able to negotiate this chunky deal is encouraging.EssilorLuxottica certainly seems to be Del Vecchio’s show now, perhaps inevitably given his control of a 32% stake. There are similarities with another Italian billionaire, Stefano Pessina, who built his Walgreens Boots Alliance Inc. empire through a series of deals in Europe and then the U.S. to control pharmaceutical distribution and retail.Del Vecchio and Sagnieres may have been motivated to make a move on GrandVision so quickly because of worries about potential rival interest from private equity, which is awash with cash and snapping up unloved companies. The Dutch target’s share price had languished before Bloomberg reported the deal talks earlier this month.As it is, a 33.1% premium to the closing price on July 16, the day before the talks were disclosed, looks palatable to both sides. GrandVision shares rose to 26.70 euros on Wednesday, just below the offer price of 28 euros (rising to 28.42 euros if the transaction doesn’t close within 12 months). Bernstein analysts estimate that the purchase would be 5%-6% accretive to earnings per share in 2019 and 2020, without synergies.Still, Del Vecchio and Sagnieres have a lot on their plate now. The bringing together of Essilor and Luxottica has only really just begun in earnest, in an effort to generate promised annual savings of 600 million euros. Unusually, they haven’t put a figure on the cost savings they might reap from GrandVision. More detail will come in time, perhaps at an investor day in September, but not calculating the potential benefits is disappointing.The greatest hazard is that hostilities between Del Vecchio and Sagnieres reignite. With plenty still riding on the original deal, and a chunky acquisition now in the mix, recruiting a single chief executive to oversee the integration is more important than ever. They’ll also need considerable diplomatic skills to navigate the diverse factions on the board.To contact the author of this story: Andrea Felsted at email@example.comTo contact the editor responsible for this story: James Boxell at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
EssilorLuxottica is buying Dutch opticians group GrandVision for up to 7.2 billion euros ($8 billion) in cash to take control of thousands of stores where it sells spectacles and lenses. The deal marks a new milestone for EssilorLuxottica, which was formed last year from the merger of French lens maker Essilor and Italian eyewear group Luxottica, but which has been hit by disputes over who should run the group. GrandVision, whose chains include Vision Express in Britain and For Eyes in the United States, would give EssilorLuxottica control of more than 7,000 outlets across the world where it already sells brands including Varilux lenses and Ray-Ban sunglasses.
Charenton-le-Pont, France (July 31, 2019 – 7:00am) - The Board of Directors of EssilorLuxottica met on July 30, 2019 to approve the condensed consolidated interim financial statements for the six months ended June 30, 2019. The Board of Directors has also approved the Unaudited Pro Forma1 condensed Consolidated Interim Financial Information, which has been prepared for illustrative purposes only. “We are pleased with the results of the first half which show growth for the Group in terms of sales and a steady pace of profitability.