Kering Eyewear Sales Grow in First Quarter, Group’s Revenue Declines Sharply

PARIS—Kering Eyewear, part of the global luxury group Kering, has reported revenue of €463 million in the first quarter of 2024, up 8 percent on a comparable basis. Overall, revenue from the Kering Eyewear and Corporate segment amounted to €536 million, up 24 percent as reported and up 9 percent on a comparable basis, the company announced. However, Kering Group’s revenue for the first quarter of 2024 was down 11 percent as reported and down 10 percent on a comparable basis to €4.5 billion, the company reported. The revenue drop includes a negative currency effect of 3 percent and a positive scope effect of 2 percent, resulting from the consolidation of Creed.

EyeCare Partners Announces Refinancing Transactions, Secures New Money Investment

ST. LOUIS—EyeCare Partners LLC, a provider of clinically integrated eyecare, announced it has closed a private debt exchange with holders of a majority of its existing term loans. In addition, the company plans to launch a public debt exchange offer to remaining lenders, which is expected to further benefit the company through incremental debt discount capture and debt service flexibility. The completed transaction provides significant liquidity benefit through a combination of $275 million of new money, meaningful cash-to-paid-in-kind interest conversion and discount capture, according to the announcement.

What’s Driving Private Equity & Practice Transitions?

As 2024 gets underway, investors remain optimistic about opportunities in the vision care space. The U.S. population continues to grow and age, creating a robust environment for optometry and optometric practices, according to industry experts. They note that a rising need for eyecare and eye health services, fueled by growth in the population of patients aged 65 years and older, continues to make the landscape a stable and attractive target for those who are looking to invest, or to grow their career.

Experts Explain AI’s Growing Impact on Optical at VM Summit

NEW YORK—The 17th annual Vision Monday Leadership Summit began with a greeting by James DeMatteis, publisher of Vision Monday and 20/20 Magazine, and Anne Cooper, editorial director of Vision Monday and 20/20 Magazine. DeMatteis kicked off the VM Summit saying, “When we originally chose the topic: ‘What’s Your AI Acuity-Sharpening a Vision for the Future,’ in April 2023, we knew that AI was already a very hot topic, but I don’t think anyone could have predicted how quickly AI has thrust itself into the forefront of so many different facets of our businesses and our lives.”

Registration Opens for THE Myopia Meeting Vancouver, Scheduled for June 9

VANCOUVER—Registration has opened for THE Myopia Meeting’s first in-person meeting of the year, scheduled for Vancouver, Canada, on Sunday, June 9, 2024. The live, in-person meeting will feature four hours of COPE-approved CE presented by world-renowned experts in the field. Additionally, periodic clinical reviews will cover the latest diagnostic and monitoring technologies along with the newest treatments to slow the progression of myopia. Break times and lunch will provide peer-to-peer networking opportunities among eyecare professionals who are either starting their myopia management practice or growing an existing one. Registration is available online here.