Still trying to find the news feed ...
Still trying to find the news feed ...
Full Google Translation in 5 seconds. Even self detects the languish.
The release of this press release is reserved for Canada only and can not be sent to US news agencies or distributed in the United States.
Makes sense to me. New Look has a solid business plan and vision. Iris jumped the shark and was way behind never able to recover after its founder passed.
The combined entity will have an estimated annual turnover of more than $ 315 million for the network, an estimated annual consolidated turnover of more than $ 265 million and a network of more than 375 stores, reinforcing the position of Vision Group New Look as the largest retailer of optics in Canada and the eighth largest in North America. We will be the dominant player in Quebec, the Maritimes and British Columbia. This should lead to greater efficiency and lower operating costs in several areas of operation
Here it is in English;
http://www.marketwired.com/press-rel...ci-2224800.htm
Next move...Most likely will be acquired by Essilor.
Looks like it has already been done in total silence ....................................
Antoine Amiel
President
New Look Vision Group Inc
Antoine Amiel joined New Look Vision Group Inc. as Vice-Chairman of the Board of Directors in May 2012 at which time he was also appointed to the Board of Directors. He was appointed President in May 2015. He is an experienced international executive from the optical lens industry.
Between 2009 and 2012, Mr. Amiel held executive positions within Nikon-Essilor Co. Ltd.("Nikon-Essilor"), a Tokyo-based joint venture between Nikon Corporation and Essilor International which manufactures and distributes Nikon ophthalmic lenses worldwide. From 2005 to 2012, he was Executive Officer,Vice-President International Subsidiaries and CEO of Nikon Optical USA, Canada and United Kingdom.
From 2002 to 2005, Mr. Amiel was Managing Director (CEO) of Nikon Optical UK Ltd. From1999 to 2002, he was Nikon Essilor's Chief Financial Officer. Prior to his time with the joint venture he held several finance and marketing positions in Asia-Pacific and North America. Mr. Amiel has a master in Corporate Finance from the Université de Paris IX Dauphine.
Mr.Amiel is a member of the Board of directors and the Executive Committee of New Look Vision Group.
Source:
http://www.newlookvision.ca/en/board.aspx#close
Last edited by Chris Ryser; 07-07-2017 at 12:48 AM.
.......................which puts the corporation in first place after the merger with Luxottica in every sector of optical business.
From largest manufacturer to ------------------- largest retailer
I do know the competition bureau has been calling and emailing specific industry individuals (non Essilor) to seek their opinions and concerns on Essilor's business growth initiatives, specifically post merger proposed size of market share within Canada.
It will be interesting to see if the feds actually intervene. I doubt they will.
New Look Vision Group Inc. (formerly New Look Eyewear Inc.) is a Montreal-based, Canadian public company with its shares listed on the Toronto Stock Exchange (“BCI”).
It is a leading provider of eye care products and services in Eastern Canada. The company has three main retail optical banners: New Look Eyewear (www.newlook.ca), Vogue Optical (www.vogueoptical.com) and Greiche & Scaff (www.greiche-scaff.com). The Group's network consists of 212 corporately-owned eye care stores. Stores are located in Québec (122), Ontario (23), Nova Scotia (22), New Brunswick (22), Newfoundland and Labrador (14), Prince Edward Island (6), Saskatchewan (2), and British Columbia (1). The Company operates a lens processing laboratory and a distribution centre in Ville St-Laurent, Québec, and a lens processing laboratory in Charlottetown, Prince Edward Island.
The Company’s current priorities and development plans include the following objectives:
- To continue to explore generic growth and acquisitions opportunities in Québec, Ontario, the Atlantic Provinces and across Canada in order to take advantage of consolidation of the Canadian retail optical industry;
- To continue to leverage the three primary trade names: New Look, Greiche & Scaff and Vogue Optical, which have long and solid reputation in their respective markets;
- To share current practices between the three banners by benchmarking activities and identifying areas from which the group could maximize results and cash flows;
- To improve liquidity and the balance sheet through a planned program of annual repayment of acquisition debt used to acquire Vogue Optical and Greiche & Scaff;
- To increase our market position by an expansion and continual modernization of our state-of-the-art laboratories, aggressive marketing, availability of optometrists and well-trained personnel;
- To continue to improve the efficiency of our operations by significant investments in a new point-of-sales system; and
- To continue to improve our web-related platform for eye exam appointments, contact lens sales orders and greater information to the public through our internet window display and newsletter on eyewear fashion trends.
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