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Essilorluxottica 28 May 2019 Update to Credit Analysis Following Affirmation of A2
CORPORATES CREDIT OPINION EssilorLuxottica 28 May 2019 Update to credit analysis following affirmation of A2 Update Summary Following the mandatory tender offer, whereby EssilorLuxottica (the company or the group) acquired 93.3% of Luxottica's shares, the company subsequently launched a sellout and squeeze-out of the remaining shares for a combination of stock issuances and a cash consideration of about €640 million. As of March 5, 2019, EssilorLuxottica controlled all the RATINGS share capital of Luxottica, whose shares have been delisted from the Italian stock exchange. EssilorLuxottica Domicile France EssilorLuxottica's A2 rating continues to reflect (1) its position as the global leader in Long Term Rating A2 corrective lenses and eyewear market by a large margin to its competitors, illustrating the Type LT Issuer Rating - Fgn group's strong innovation capabilities and brand portfolio; (2) the group's wide offering Curr within its product category and its vertical integration, which allow it to cater to a variety Outlook Stable of customers and develop strong relationships with opticians; (3) a very solid track record Please see the ratings section at the end of this report of steady growth and resilient operating performance; and (4) the group's strong financial for more information. The ratings and outlook shown profile, underpinned by a healthy free cash flow (FCF) generation. reflect information as of the publication date. EssilorLuxottica's rating also factors in (1) the group's concentration of sales generated by its corrective lenses and frames business, as well as its relative concentration in the US market; Contacts (2) the still subdued economic environment in some of the group's key markets, which can Knut Slatten +33.1.5330.1077 weigh on lenses' renewal rates or result in some trading down by consumers; (3) the risk of a VP-Senior Analyst competitor making a breakthrough innovation; and (4) a degree of uncertainty around future [email protected] financial policies and the group's appetite for future external growth. -
Dental and Vision Savings
Dental Powered by Aetna Dental Access® 15-50% Save 15 to 50% on dental care, in most instances** Enjoy a Bright Smile at a Lower Cost What Dental Does for You ▶ Save on dental services such as cleanings, X-rays, ▶ Use the discounts as often as needed crowns, root canals and fillings at over 238,000* available dental practice locations nationwide ▶ Use the Dental Price Transparency tool in the New Benefits app to know exactly what procedures cost ▶ Need specialty dental care? Save on orthodontics and before going to the dentist periodontics, too! How your Dental Discounts Compare to Insurance Insurance isn’t the only option when you need dental care. Your dental discounts provide valuable savings for you and your family, with no limit on the number of times you can use them. Dental powered by Aetna Typical Insurance Coverage Dental Access® After hitting your maximum I reached my annual with co-pays and deductibles, Save 15% to 50% off cleanings, maximum, but I need to get additional services or procedures x-rays, fillings, root canals, and a filling. will not be covered for the rest of crowns as often as needed. the plan year. Dependents may be covered My son needs braces, but I’m Save 15% to 50% off orthodontic for an additional cost, but not sure how we can afford services, with dependents orthodontists are not always that right now. covered at no additional cost. covered. Save 15% to 50% off surgical Ouch! I broke my tooth and Surgeries are not covered until procedures with no waiting need surgery. -
BLANE FRIEST, Individually and on ) ) Behalf of a Class of Similarly Situated Individuals, ) ) Civil Action No
Case 2:16-cv-03327-SDW-LDW Document 18 Filed 12/16/16 Page 1 of 24 PageID: 463 NOT FOR PUBLICATION UNITED STATES DISTRICT COURT FOR THE DISTRICT OF NEW JERSEY ___________________________________ ) BLANE FRIEST, individually and on ) ) behalf of a class of similarly situated individuals, ) ) Civil Action No. 2:16-cv-03327-SDW-LDW Plaintiff, ) ) v. ) ) OPINION LUXOTTICA GROUP S.P.A.; ) LUXOTTICA USA, LLC; LUXOTTICA ) RETAIL NORTH AMERICA, INC.; THE ) UNITED STATES SHOE CORP. t/a ) December 16, 2016 LENSCRAFTERS; JOHN DOES 1-5; and ABC CORPS 6-10, ) Defendants. ___________________________________ WIGENTON, District Judge. ) Before this Court is the Motion to Dismiss, pursuant to Federal Rule of Civil Procedure ) 12(b)(6), of Defendants Luxottica Group S.p.A.; Luxottica USA, LLC; Luxottica Retail North America, Inc.; and The United States Shoe Corp. t/a LensCrafters (“LensCrafters”) (collectively “Defendants”). This Court has jurisdiction over this matter pursuant to 28 U.S.C. § 1332. Venue is proper in this District pursuant to 28 U.S.C. § 1391(b). This Court, having considered the parties’ submissions, decides this matter without oral argument pursuant to Federal Rule of Civil Procedure 78. For the reasons stated below, Defendants’ Motion is GRANTED. I. FACTUAL HISTORY Defendants are four companies, one of which, LensCrafters, operates 888 retail prescription eyewear stores throughout the United States, including thirty in New Jersey. (Compl. 1 Case 2:16-cv-03327-SDW-LDW Document 18 Filed 12/16/16 Page 2 of 24 PageID: 464 ¶¶ 12-16.)1 Plaintiff, Blane Friest (“Plaintiff”), a New Jersey resident, purchased prescription eyeglasses from Defendant LensCrafters at an unspecified location on approximately December 22, 2014. -
DISCOUNTS & Savings to Help You and Your Family on Your Path to Wellness
for HMFP members DISCOUNTS & savings To help you and your family on your path to wellness These savings programs are not insurance products. Rather, they are discounts for programs and services designed to help keep members healthy and active. All programs subject to change without advance notice. • Visionworks: Get a free pair of prescription eyeglasses with Vision your covered routine eye exam.1 Also, save 40% on frames. • Vision discounts at popular locations: Save 35% on frames when you buy a complete pair of glasses. Save 20% on any frame or lens options purchased separately, or save 20% on other lens add- ons and services. Locations include: Target Optical, JC Penney Optical, Pearle Vision, Lenscrafters, In Style Optical and other EyeMed access network optical providers.2 • Harvard Vanguard Medical Associates: Save 40% on frames and 20% on prescription sunglasses. • Laser vision correction: Save up to 50% on procedures from Davis Vision, QualSight LASIK and US Laser Network locations in MA, ME, NH and CT. • Amplifon Hearing Health Care: Save on hearing services and save Hearing up to 50% on hearing aids. Plus, one year of follow-up services is included with purchase. Locations nationwide. • Flynn Associates: Save up to $200 per hearing aid, and get free quarterly cleanings, adjustments and more. • Speech-Language and Hearing Associates of Greater Boston, PC: Save up to $200 on each hearing aid purchase. Healthy • DASH for HealthTM: Save 50% on a six-month subscription for Eating this online program to help improve eating and exercise habits. • Eat Right Now: Save 25% on a subscription to this mindful eating app that combines neuroscience and mindfulness to reduce your craving-related eating by 40%. -
LUXOTTICA BUY the Short-Sighted Shouldn’T Panic PRESENT PRICE: €10.70 TARGET PRICE: €13.50 INITIATION of COVERAGE
European Equity Research Italy – Household Goods and Textiles Madrid, June 12, 2003 LUXOTTICA BUY The Short-sighted Shouldn’t Panic PRESENT PRICE: €10.70 TARGET PRICE: €13.50 INITIATION OF COVERAGE Carlo Scomazzoni Nathalie Longuet-Saleur Tousette Yvonne Edwards (34) 91-701-9432 (33) 1-5353-7435 (49) 69-91507-357 [email protected] [email protected] [email protected] Luxottica is the world’s leading manufacturer and Basic Figures, June 11, 2003 retailer of mid- and premium-priced sunglasses and Reuters / Bloomberg codes: LUX.MI / LUX IM prescription frames, with a turnover of €3bn. 73% of Market capitalisation (€ mn): 4,825 sales are made in the US, where the company controls Number of shares (mn): 452.1 the two leading retail chains in their respective Average daily volume (€ mn): 3.1 52-week range (€): 20.20-9.25 segments: LensCrafters and Sunglass Hut International. Free float (%): 25.0 Ray-Ban is Luxottica’s most important proprietary 2003E ROE (%): 18.4 brand, while licensed brands include Chanel, Versace, 2003E P/BV (x): 3.1 Bvlgari and other luxury brands. 2002-04F PEG: Neg Source: Reuters and SCH Bolsa estimates and forecasts. The eyewear market has grown steadily over the past Estimates and Fundamental Ratios 10-to-15 years, as glasses have gradually come to be 2001 2002 2003E 2004F considered fashion accessories. Luxottica has been able Net profit (€ mn): 316.4 372.1 283.4 308.1 to outpace market growth thanks to its fully-integrated % change: 23.9 17.6 -23.8 8.7 business model and well executed acquisitions. -
Crain's New York Business
CRAINSNEW YORK BUSINESS Oscar turns grouchy on New York P. 7 | VCs sink their teeth into food P. 8 | What singles signify for lower Manhattan P. 13 NEW YORK BUSINESS® OCTOBER 10 - 16, 2016 | PRICE $3.00 How CEO John Foley steered exercise-bike company Peloton to a seven-figure growth rate and $43 million in revenue. PLUS: The 49 other hottest companies in New York Page 17 VOL. XXXII, NO. 41 WWW.CRAINSNEWYORK.COM NEWSPAPER P001_CN_20161010.indd 1 10/7/16 8:13 PM WE HEAR YOU, MARIO. With Express Funding, get your card payments in your Chase checking account the next business day. Chase.com/ExpressFunding All businesses are subject to credit approval. Next business day funding is available to eligible Chase merchant services clients who deposit into a single Chase business checking account. Visa®, MasterCard® and Discover® credit and debit transactions are eligible. Additional terms, conditions and restrictions apply. Merchant services are provided by Paymentech, LLC (“Chase”), a subsidiary of JPMorgan Chase Bank, N.A. Real business owners compensated for use of their actual statements. Deposit products offered by JPMorgan Chase Bank, N.A. Member FDIC ©2016 JPMorgan Chase & Co. Untitled-11 1 8/30/2016 12:13:11 PM OCTOBER 10 - 16, 2016 CRAINSNEW YORK BUSINESS FROM THE NEWSROOM | JEREMY SMERD IN THIS ISSUE Call the commissioner 4 AGENDA WITH ALL THE NEW MANDATES New York City businesses must 6 IN CASE YOU MISSED IT Central Park comply with, it’s no wonder Mayor Bill de Blasio has had to 7 HEALTH CARE Conservancy CEO on rich expand government to police them. -
The National Association of School Nurses Teams up with Lenscrafters to Help Students Get a Head Start This School Year Through Proper Eye Care
The National Association of School Nurses Teams Up with LensCrafters to Help Students Get a Head Start this School Year through Proper Eye Care Silver Spring, MD (September 2, 2015) – Poor vision can impact a child’s achievement at school, as well as their mental and social development; in fact, it is estimated that 80 percent of a child’s learning comes through the eyes.i Therefore, it is critical that children receive proper eye care to help ensure they are learning in the classroom and staying as healthy as possible. To encourage good health and learning this school year, the National Association of School Nurses (NASN) is partnering with LensCrafters to educate parents and families about the importance of vision screening and regular eye exams. Children who are experiencing vision problems may not actually realize they are having issues. However, parents can be on the lookout for unexpected signs of eye problems, such as: Appearance of the eyes: different sized pupils, red eyes or swollen eyelids Behavior in school: excessive blinking, stumbling or daydreaming Complaints: headaches, dizziness, nausea or double vision Parents who are concerned about their child’s vision health should speak with a qualified healthcare professional, like their school nurse or an eye doctor. In schools, nurses play a vital role in conducting evidence-based vision screenings. “As nurses on the front-lines of childhood healthcare, we are often the first medical professional to identify a vision care need and can help alert parents to the issue, refer them for a comprehensive eye examination and assist in finding resources, if needed,” said Beth Mattey, President of the National Association of School Nurses. -
Consent Solicitation: Approval of the Transfer of the Notes from Luxottica to Essilorluxottica
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES, OR TO ANY PERSON LOCATED OR RESIDENT IN, ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS DOCUMENT Consent solicitation: approval of the transfer of the Notes from Luxottica to EssilorLuxottica Charenton-le-Pont, France (November 26, 2019 – 6:00 pm) – Further to the press release dated 24 October 2019, Luxottica Group S.p.A. (“Luxottica”) and EssilorLuxottica S.A. (“EssilorLuxottica”) announce that in relation to the Euro 500,000,000 2.625 per cent. fixed rate notes due 10 February 2024 (ISIN: XS1030851791) issued by Luxottica in 2014 (the "Notes"), the meeting of the holders of the Notes today approved the transfer of the Notes from Luxottica to EssilorLuxottica, the release of the guarantors under the Notes, and certain modifications to the conditions of the Notes, all as further described in the Consent Solicitation Memorandum dated 24 October 2019, a copy of which is available under the “Consent solicitation” section on Luxottica’s website at http://www.luxottica.com/en/investors/consent-solicitation. Luxottica and EssilorLuxottica draw the attention of the holders of the Notes that as described in the Consent Solicitation Memorandum, the transfer will be effective as from the Implementation Date. ### EssilorLuxottica EssilorLuxottica is a global leader in the design, manufacture and distribution of ophthalmic lenses, frames and sunglasses. Formed in 2018, its mission is to help people around the world to see more, be more and live life to its fullest by addressing their evolving vision needs and personal style aspirations. -
Teamcare Eyemed - Vision Care Why It Will Cost You More with the Trustee Chosen Teamster Provider
Teamcare EyeMed - Vision Care why it will cost you more with the trustee chosen Teamster Provider Teamsters Mandatory $15.63 a month Vision Plan is no benefit. 1. Luxottica and EyeMed Monopoly from Italy brought to you by Teamcare “A consumer-level frame costs significantly less than $10 to manufacture. The rest is operations, licensing and profit. Think about that the next time you pick up an average $150 frame. These aren’t markedly different or superior to the $30 glasses available from reputable online dealers — and those include lenses, probably the same ones you were just about to pay $200 for in the store.” A key to the industry-standard overpricing is the fact that a single corporation — Luxottica, the world’s largest eyewear firm — owns many retail eyewear chains and many popular eyewear brands. Based in Milan, Italy, Luxottica owns and operates LensCrafters, Sears Optical, Target Optical, Pearle Vision, Sunglass Hut, Ilori, and other chains in the United States, along with yet more chains throughout Asia, Europe, Africa, India, the Antipodes and the Middle East. Luxottica owns Ray-Ban, Oakley, Oliver Peoples, Vogue, and other brands, and makes glasses under license for over a dozen designer labels including Versace, Prada, Bulgari, DKNY, Burberry, Ralph Lauren, Dolce & Gabbana, Donna Karan, Tiffany, and more. As if that isn’t enough, Luxottica is also the parent company of a vision-care benefits program, EyeMed. Eyewear prices in brick-and-mortar stores stay artificially high, Mitchell says, due to “the lack of real competition, inasmuch as Luxottica owns massive manufacturing, licensing, retailing and insurance interests” — albeit EyeMed is “not so much insurance as a marketing ploy to get people to buy from their stores at a discount and to force the remaining independent stores to buy Luxottica controlled frames. -
Bright Health VSP Vision Care Provider Directory
Bright Health VSP Vision Care Provider Directory This directory is current as of 09/06/2018. Bright Advantage Special Care (HMO SNP) H2288-003 This directory is for the service areas (counties) of: Kings, Queens, New York This directory provides a list of the Bright Health Plan current VSP Vision Care network providers. To access the most up-to-date Bright Health VSP Vision Care provider directory, you can visit BrightHealthPlan.com/Medicare or please call our Member Services at (844) 202-4030, 8am-8pm, local time, 7 days a week, Oct. 1 – Mar. 31; Monday-Friday Apr 1 – Sept. 30, TTY: 711. If you would prefer us to send you information in a language other than English or in another format (e.g., braille, large print or audio tape), please call Member Services. Y0127_MULTI-MA-DIR-2659_C H2288003 Bright Health VSP Vision Care Provider Directory Current as of 09/06/2018. Table of Contents Introduction……………………………………………………………...3 Service areas for Bright Health Plans…………….………………….3 How to find Bright Health Plan VSP Vision Care provider…..…....3 List of network VSP Vision Care providers………………………....4+ Y0127_MULTI-MA-DIR-2659_C H2288003 Introduction This directory provides a list of Bright Health Plan’s network of vision providers. To get detailed information about your healthcare coverage, please see your Evidence of Coverage. You can find a list of in-network vision providers online at BrightHealthPlan.com/Medicare. As a Bright Health Medicare Advantage plan member, you may go to any of the network providers listed in this directory. To make an appointment, just call your chosen in-network provider’s office and let them know you’re a member of Bright Health. -
Les Champions De La Lunetterie
A perte de vueBernard A perte GABRIEL-ROBEZ de vue Les Champions de la A perte de Lunetterie vue Les Fleurons de l’Europe De l’AIN et du JURA Et de Distributeurs-Fabricants Sous-traitants MOREZ Marques et licences La Capitale Mars 2019 Les Champions de la lunetterie 1 Les Champions de la lunetterie 2 Les Champions de la lunetterie Bernard GABRIELGABRIEL----ROBEZROBEZ Les Champions De la Lunetterie Les Fleurons de l’Europe De l’AIN et du JURA Morez la capitale Distributeurs-Fabricants Sous-traitants Marques et Licences 3 Les Champions de la lunetterie DU MÊME AUTEUR Structures d’Autrefois du Groupe Alcatel Business Systems, Illkirch 2002 -Association Mémoires- (interne à Alcatel) Morez, Vallée des Entrepreneurs- Une saga des dynasties industrielles du canton. (2009) Imprimerie UNI-EST, Geispolsheim, 2009 -ISBN 978-2-7466-1214-3 Les Secrets de la Molune ) (2012) (Saga d’une famille jurassienne au XIX° siècle) Mon Petit Editeur, 14 rue des Volontaires 75008 Paris IDDN.FR.010.011-7366.000.R.P.2012.030.31500 4 Les Champions de la lunetterie 5 Les Champions de la lunetterie A Odette, A ma famille et mes alliés, A Jérôme Colin, Président du Syndicat Des lunetiers du Haut-Jura Aux lunetiers de France De l’Ain et du Jura Et de Morez A France Optique ma référence A Benoit Clément opticien à l’Esplanade StrasBourg 6 Les Champions de la lunetterie SOMMAIRE Sommaire(7) Préface (9) Introduction (12) LES MAJORS DANS LE MONDE (21) Essilor Luxottica (27) Luxottica (29) Essilor (65) Groupe Logo (78) LVMH et la financière Agache (88) Safilo et Hal Investments -
Vision Extras NEW from Aetna Visionsm Preferred—Exclusive Member-Only Savings on Vision Care and Services
Vision Extras NEW from Aetna VisionSM Preferred—Exclusive member-only savings on vision care and services At Aetna, we believe our members deserve special savings. So, we’ve added exclusive member-only discounts and rebates on vision care services at no additional cost. These special offers may be combined with Aetna Vision Preferred insurance benefits to help our members maximize their savings. aetnavision.com 57.03.483.1 (3/20) Accessing Special Offers Is Easy Members can visit the special offers page at aetnavision.com to get instructions on how to redeem the available offers. Our current listing of special offers* includes: • Up to $25 rebate on Transitions® lenses • $25 off a complete pair of glasses or • $25 off a purchase at LensCrafters® prescription sunglasses at Pearle Vision • $20 off any purchase or $50 off purchase of • Up to $20 off at ContactsDirect.com $200 or more at Sunglass Hut • 15% off retail prices or 5% off promotional • Save an additional $25 when using vision prices on LASIK or PRK from U.S. Laser network insurance at Target Optical® • And more! See the savings Special offers are included with all Aetna Vision Preferred plans. There are no added fees. Only added value. Here’s a sample that shows how a member can save even more on out-of-pocket costs using their Aetna Vision Preferred vision benefit with our exclusive member-only offers*: Without an Aetna With an Aetna Vision Preferred Plan Vision Preferred Enhanced plan Comprehensive Exam with Dilation $118 $0 Eyeglass Frame $185 $36 Single Vision Lenses $89 $0 Standard Polycarbonate Lens $64 $40 Photochromic Plastic Lenses (Transitions) $116 $75 Premium Anti-reflective Coating (Crizal Alize) $120 $68 Apply Special Offer $25 off Glasses N/A -$25 at Pearle VisionSAMPLE or Target Optical Apply Special Offer $25 Transitions rebate N/A -$25 Totals $692 $169 In this sample purchase, the member saves $523.