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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. -
Group Vision Plans Simplicity That Makes You Smile
1 Group Vision Plans Simplicity that makes you smile. Last updated 09/2018 On our quest to keep benefits outstanding and simple, we are also looking for easy ways for our brokers to enhance their business too. That’s why we offer a variety of uncomplicated vision plans. Vision plans that are effortless, highly valued and an easy way to enhance your client’s benefits package. They are quick to set up, take little administrative time and are painless to manage. So if you aren’t taking advantage of this simple way to expand your clientele, we think you should be. 01 Table of Contents 02 Why Dental Select 03 National Provider Access 04 Vision Health and Wellness 05 Financial Strength 06 Nationwide Availability 07 Dental Coverage 08 Online and On the Go Group Vision Plans 10 Vis-6 Vision Plan 11 Vis-8 Vision Plan 12 Vis-12 Vision Plan 13 Vis-21 Vision Plan 14 Vision Plan Comparison 15 Vision Plan Notes 16 Participation Requirements Vision Plan Forms 17 New Group Checklist 18 All Group Application 20 Employee Enrollment Form 22 Employee Change Form 27 Group EFT Authorization Form 28 Key Terms 29 FAQs 02 Why Dental Select? We know your clients will take notice of major retail brands like LensCrafters, Pearle Vision, JCPenney, Sears Optical, and Target Optical. Yeah, we’ve got all those. Plus, with the ability to order glasses and contacts online, your clients will easily see our commitment to service and simplicity. Day in and day out, our Dental Select family works hard to bring uncluttered, personable experiences and preferred benefits. -
Stacking up the Top 50 Optical Retailers COVER TOPIC
34 Stacking Up the Top 50 Optical Retailers COVER TOPIC Updated on 5/15/2019 VM’s Ranking Underscores Expansion Among the 10 Leading Players MARGE AXELRAD / SENIOR VP, EDITORIAL DIRECTOR AND MARK TOSH / SENIOR EDITOR U.S. Vision Care Market Mass (in millions) Merchants’ NEW YORK—New attitudes among consumers to- Top 50 Share Top 10 Share Share ward purchasing in general and the rise of digital $14,364.0* $12,561.7* $3,501.5* exploration and purchasing may have upended the general retail marketplace last year with many store closures and reorgs. But as the U.S. economy 40.2% 35.2% 9.8% held its own, the optical industry’s total sales rose just slightly and remained stable. It was new and continued private equity-driven investments in optical and optometric retail and solid organic sales growth from value-sector opti- Total 2018 Market: $35,725** cal retailers that reflected a higher dollar volume * VM Estimate ** Vision care products and services sold at optical retail locations. Source: VisionWatch | The Vision Council among the 50 U.S. Optical Retailers in Vision Mon- Data is from 12ME Dec. 2018 Continued on page 44 VM’s Top 50 Sales Concentration Grows Top 50 Retailers’ Sales (in millions) NEW YORK—There was a higher concentration of sales among the 2019 VM Top Mass Top 10 Share Merchants’ $12,561.7* 50 U.S. Optical Retailers, which assesses estimates of 12 months of calendar sales 24.4% Share 87.5% for the year ending Dec. 2018. The Top 10 optical retailers collectively comprise $3,501.5* 87.5 percent of the Top 50 U.S. -
A Large Vision Network Means There's Always a Provider In
Vision Plans Network Options A large vision network means there’s always a provider in sight. UnitedHealthcare knows how important it is to find a provider you can trust who meets your lifestyle, eye care and eyewear needs. With our large national eye care network, Spectera Eyecare Networks, you can choose to get more personalized care from a private practice. Or, take advantage of the convenience retail chains offer with evening and weekend hours. Either way, we’re focused on providing you with a better eye care experience. Well-known practices and brands in our large national network include: • 20/20 Vision Center • Eye Boutique • 3 Guys Optical • EyeCare Associates • AccurateOptical • Eye Express • All About Eyes • eyecarecenter Making it easier for you • Allegany Eyecare • Eyeglass World to find a provider. • America’s Best • EyeMart Express To find the provider who best • Bard Optical • Eyetique meets your needs, login to • BJ’s Optical • For Eyes myuhcvision.com or call • Boscov’s Optical • General Vision Services 1-800-638-3120. • Clarkson Eyecare • H. Rubin Vision Centers Some providers or locations may not participate in your plan. • Co/Op Optical • Henry Ford OptimEyes • Cohen’s Fashion Optical • Horizon Eye Care • Costco Optical • Houston Eye Associates • Crown Vision Center • JC Penney Optical • Dr. Travel Family Eye Care • Midwest Vision Centers CONTINUED • MyEyeDr. • Standard Optical • National Optometry • Stanton Optical • National Vision • Sterling Optical • Nationwide Vision • SVS Vision • NUCROWN • Target Optical (not available for • Optical Shop at Meijer all members) • Optyx • Texas State Optical • Ossip Optometry • The Eye Gallery • Pearle Vision • The Hour Glass • Rosin Eyecare • Thoma & Sutton Optical • RX Optical • Today’s Vision • Sam’s Club • Virginia Eye Institute • Schaeffer Eye Centers • Vision4Less • Sears Optical (not available for • Visionmart Express all members) • Visionworks • See Inc. -
Eyewear Collection - Fall/Winter 2016
EYEWEAR COLLECTION - FALL/WINTER 2016 EYEWEAR COLLECTION - FALL/WINTER 2016 Representing Ralph Lauren’s iconic heritage as a designer and recognized throughout the world, Polo Ralph Lauren reflects a celebrated vision of classic yet spirited American style for men and women. Timeless and authentic, Polo Ralph Lauren is the enduring symbol of modern-day American lifestyle: easy, energetic, young and cool. “I called the line Polo because it had a sensibility that was sporty and international—tweedy and sophisticated. It had an imagery that represented the lifestyle of the ties and the clothes.” –Ralph Lauren POLO INDEX FALL/WINTER 2016 MEN STYLES WOMEN STYLES OPTICAL OPTICAL PH 1168 10 PH 2164 22 PH 2163 11 PH 2165 23 PH 2166 12 PH 2167 23 PH 2168 12 PH 2169 13 SUN PH 4117 26 SUN PH 4118 26 PH 3105 16 PH 4116 17 PH 4119 18 PH 4120 18 POLO KIDS OPTICAL PP 8037 100 PP 8525 100 PP 8526 101 6 POLO INDEX CORE COLLECTION MEN STYLES MEN STYLES OPTICAL PH 1067 30 PH 4095 72 PH 1083 30 PH 4098 72 PH 1117 31 PH 4099 73 PH 1142 31 PH 4102 74 PH 1143 32 PH 4106 74 PH 1144 32 PH 4107 75 PH 1145 33 PH 4108 75 PH 1147 33 PH 4109 76 PH 1148 34 PH 4110 77 PH 1150 34 PH 4113 78 PH 1152 35 PH 4115 78 PH 1153J 35 PH 1157 36 PH 1160 37 PH 1161 37 PH 1162 38 WOMEN STYLES PH 1163 38 PH 1164 39 OPTICAL PH 1165 40 PH 1166 82 PH 1167 41 PH 2127 83 PH 2039 41 PH 2128 83 PH 2046 42 PH 2131 84 PH 2047 42 PH 2135 84 PH 2057 43 PH 2138 85 PH 2058 43 PH 2147 85 PH 2065 44 PH 2148 86 PH 2083 44 PH 2156 86 PH 2085 45 PH 2159 87 PH 2104 45 PH 2160 87 PH 2115 46 RL 6058 88 -
Senate Bill 216 Jason Singh, OD Pearle Vision, Luxottica Retail North America Proponent Testimony April 27, 2016
Senate Bill 216 Jason Singh, OD Pearle Vision, Luxottica Retail North America Proponent Testimony April 27, 2016 Chairman Peterson, Vice Chairman Beagle, Ranking Member Tavares and members of the Senate Ways and Means Committee, thank you for the opportunity to provide testimony in support of Senate Bill 216. My name is Dr. Jason Singh and I am the Vice President of Vision Care for Pearle Vision. Pearle Vision is a part of Luxottica Retail North America. We operate 118 retail optical stores here in Ohio under the LensCrafters, Pearle Vision, Sears Optical and Target Optical brands. We employ 3200 Ohioans, including 400 Ohio licensed dispensing and apprentice opticians. Luxottica’s North American retail offices in Mason, Ohio coordinate over 4,500 stores across the United States. In addition, we operate OneSight, a public charity founded in Cincinnati. OneSight’s vision is to eradicate the global vision care crisis for the 1.1 Billion people around the world who need vision correction and lack the access to it. We accomplish this by mobilizing eye care professionals, industry experts, and volunteers in the U.S. and around the world. In 27 years, we have given the gift of sight to over 9 million people. On behalf of Pearle Vision, Luxottica Retail North America and the patients we serve, I urge your support of Senate Bill 216. SB 216 is an important bill that will make immediate impact for Ohio residents. Statistics show 2/3 Ohio residents require vision correction. Economic barriers, like the sales tax, make it less likely for patients to obtain the care and medical products they need to realize their full potential. -
Visioncare Plan
visioncare plan What to expect from your vision plan: Your eyesight is nothing to take for granted. It’s how we see a loved one’s face clearly or a beautiful sunset. But your sight can begin to deteriorate over a long period of time without your knowing there is a problem. No claims to file! As with any other important asset – like your home or car – wouldn’t you feel Just show your more at ease if you knew your routine eye care was covered by a company with VisionCare Plan decades experience helping people like you? With CompBenefits’ VisionCare ID card Plan, you can take advantage of coverage you need for eye examinations and eyeglasses or contacts. You can also choose to take advantage of VisionCare Plan’s deep discount for LASIK surgery. And you won’t have to hunt hard to find a doctor close to your home or work. The VisionCare Plan network includes some 14,000 ophthalmologist and optometrist locations – one third of all private practitioners in the country. Yet, it doesn’t mean you can’t see an out-of-network doctor because VisionCare Plan offers benefits in-network or out-of-network. It’s your choice. You’ll find what you need @ www.mycompbenefits.com CompBenefits has made understanding and accessing your VisionCare Plan benefits simple. Just take a few moments to register at www.mycompbenefits.com. SSVCP Orange County Sheriff’s Office Open your eyes to high-quality vision care! The average family spends close to $600 each year on routine eye health care. -
Luxottica Admitted to the Cooperative Compliance Scheme with the Italian Revenue Agency
Luxottica admitted to the Cooperative Compliance scheme with the Italian Revenue Agency Milan, 29 December 2020 – Luxottica was admitted by the Italian Revenue Agency to the Cooperative Compliance scheme under legislative decree no. 128/2015. The aim of the Cooperative Compliance scheme, in accordance with current legislation to prevent tax risk and permit a further increase in the level of certainty regarding important fiscal matters, is to strengthen the relationship of trust and transparency between Luxottica and the Italian Revenue Agency. The admission to the scheme was preceded by an assessment performed by the Revenue Agency examining the full adequacy of Tax Governance and the Tax Control Framework adopted by Luxottica for the detection, measurement, management, and control of potential tax risk. Adherence to this regime is part of a wider Luxottica strategy aimed at the preventative management of risk based on transparency with financial administrations at a global level for the benefit of all stakeholders. Contacts: Oriana Pagano Group Corporate Media Relations Manager Email: [email protected] Luxottica Group S.p.A. About Luxottica Group Luxottica is a leader in the design, manufacture and distribution of fashion, luxury and sports eyewear. Its portfolio includes proprietary brands such as Ray-Ban, Oakley, Costa, Vogue Eyewear, Persol, Oliver Peoples and Alain Mikli, as well as licensed brands including Giorgio Armani, Burberry, Bulgari, Chanel, Coach, Dolce&Gabbana, Ferrari, Michael Kors, Prada, Ralph Lauren, Tiffany & Co., Valentino and Versace. The Group’s global wholesale distribution network covers more than 150 countries and is complemented by an extensive retail network of approximately 9,000 stores, with LensCrafters and Pearle Vision in North America, OPSM, LensCrafters and Spectacle Hut in Asia -Pacific, GMO and Óticas Carol in Latin America, Salmoiraghi & Viganò in Italy and Sunglass Hut worldwide. -
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. -
Directory of Participating Optical Panelists
DIRECTORY OF PARTICIPATING OPTICAL PANELISTS September 2019 WWW.UFTWF.ORG Table of Contents GENERAL INFORMATION ...................................... 2 PARTICIPATING PANELISTS ................................. 7 NEW YORK .............................................................. 7 Manhattan ......................................................... 7 Staten Island ..................................................... 11 Bronx ................................................................. 12 Queens .............................................................. 15 Brooklyn ............................................................ 21 Nassau .............................................................. 28 Suffolk ............................................................... 32 Westchester, Hudson Valley & Upstate NY ........................................................ 34 NEW JERSEY .......................................................... 38 CONNECTICUT ....................................................... 42 FLORIDA .................................................................. 42 SUPPLEMENTAL LISTINGS ................................... 46 A complete listing of providers throughout the U.S. is available on our website: www.uftwf.org 1 General Information DESCRIPTION OF BENEFITS (A complete description is available in our Red Apple or on our website at: www.uftwf.org) PLAN OVERVIEW PARTICIPATING OPTICAL CENTERS Members can use the optical plan once every two (2) years by bringing a validated certificate to any of -
Professional Providers Near You
Professional Providers Near You Please note: not all providers offer all services. Please confirm what services are offered with the provider. COHEN'S FASHION OPTICAL LENSCRAFTERS 330 W 42ND ST MANHATTAN MALL NEW YORK, NY 10036 901 AVE OF AMERICAS STE 205MAILBOX 104 (212)594-2831 NEW YORK, NY 10001 0.2 Miles (212)967-4166 0.4 Miles COHENS FASHION OPTICAL LENSCRAFTERS 1450 BROADWAY SIXTH AVE AND 26TH ST NEW YORK, NY 10018 776 SIXTH AVE (212)719-1391 NEW YORK, NY 10001 0.3 Miles (212)481-2001 0.7 Miles PENN OPTICAL GROUP LENSCRAFTERS 450 SEVENTH AVESTE 207 530 BUILDING NEW YORK, NY 10123 542 FIFTH AVE (212)279-4826 NEW YORK, NY 10036 0.3 Miles (212)302-4882 0.7 Miles MACYS VISION EXPRESS LENSCRAFTERS 151 W 34TH ST 44TH ST AND LEXINGTON AVE NEW YORK, NY 10001 425 LEXINGTON AVE (212)494-7300 NEW YORK, NY 10017 0.4 Miles (212)922-2929 1.0 Miles EUROPEAN OPTICAL CORP LENSCRAFTERS 33 W 32ND ST 6 E 23RD ST NEW YORK, NY 10001 NEW YORK, NY 10010 (212)971-0911 (212)982-7850 0.6 Miles 1.0 Miles SIGHT IMPROVEMENT CTR INC LENSCRAFTERS 25 W 43RD STSTE 316 1804 BROADWAY NEW YORK, NY 10036 NEW YORK, NY 10019 (212)921-1888 (212)262-1502 0.6 Miles 1.0 Miles WESTSIDE VISION ASSOCIATES LENSCRAFTERS 156 W 28TH STREET CORNER OF 5TH AVE & 20TH NEW YORK, NY 10001 150 FIFTH AVE (212)244-5536 NEW YORK, NY 10011 0.6 Miles (212)352-1460 1.1 Miles SUNY COLLEGE OF OPTOMETRY LENSCRAFTERS 33 W 42ND ST 777 THIRD AVE NEW YORK, NY 10036 777 THIRD AVE (212)938-4001 NEW YORK, NY 10017 0.6 Miles (212)527-2363 1.1 Miles EYES ON MADISON LENSCRAFTERS 197 MADISON AVENUE 510 SIXTH -
Essilor and Delfin Successfully Complete the Combination of Essilor and Luxottica by Creating Essilorluxottica, a Global Leader in the Eyecare and Eyewear Industry
Essilor and Delfin successfully complete the combination of Essilor and Luxottica by creating EssilorLuxottica, a global leader in the eyecare and eyewear industry ● EssilorLuxottica brings together two pioneering and complementary global players to address the world’s growing vision care needs and the changing lifestyles of consumers ● The new entity represents a growth platform ideally positioned to seize future opportunities with pro forma combined revenues in excess of Euro 16 billion, nearly 150,000 employees and an unmatched global footprint Luxembourg and Charenton-le-Pont, France (October 1, 2018 – 7:00 pm) - Delfin S.à.r.l (“Delfin”), the majority shareholder of Luxottica Group S.p.A. (“Luxottica”) and Essilor International (Compagnie Générale d’Optique) (“Essilor”), today 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. Combination complete 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.