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.

Prevent Blindness, Vision Ireland and the TAD Foundation to Host 2nd Annual New York Golf Classic on May 20

CHICAGO—Prevent Blindness, a nonprofit eye health and safety organization, Vision Ireland, a nonprofit national sight loss agency, and the TAD Foundation, dedicated to increasing employment for the blind and low vision community, have announced that the 2nd Annual New York Golf Classic will be held at the Wykagyl Country Club in New Rochelle, N.Y., on Monday, May 20, 2024. Wykagyl is challenging for the expert golfer yet playable and enjoyable for the novice, and it is ranked one of the top 100 golf courses in the U.S., according to the announcement.

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.”