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Safilo Announces Deal to Sell US Retail Business

The transaction is expected to close in the third quarter.

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PADUA, ITALY – Safilo Group announced that it has reached an agreement to sell the U.S. retail chain Solstice to Fairway LLC, formed by a group of investors active in the U.S. and in the European eyewear retail business.

Financial terms of the deal were not disclosed.

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The transaction is expected to be completed in the third quarter of 2019.

The sale of Solstice “confirms the group’s efforts to focus on its core wholesale business, and thereby marks a further key step in Safilo’s strategy of recovering a sustainable economic profile,” according to a press release.

Safilo announced in April that it received expressions of interest to purchase its Solstice and planned to proceed with a sale.

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Solstice was acquired by Safilo in 2002, when the retailer had six stores. Today it has 73 stores, of which 28 are outlets.

Safilo makes sunglasses, optical frames, sports eyewear and other products. It has subsidiaries in 40 countries, along with more than 50 distribution partners in key markets.

Since launching in 2014, INVISION has won 23 international journalism awards for its publication and website. Contact INVISION's editors at editor@invisionmag.com.

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Optical Retailer to Add 25 Stores, Expand Into 4 New States

It’s entering the Florida, Maryland, Pennsylvania and Wyoming markets.

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DALLAS –Dallas-based optical retailer Eyemart Express announced that it plans to have 25 new locations operating by the end up 2019.

The company currently owns and operates 206 stores in 38 states, according to a press release. It’s expanding into four additional states: Florida, Maryland, Pennsylvania and Wyoming.

“The drive behind our aggressive growth strategy is to make prescription eyewear accessible and convenient for more communities,” said Michael Bender, Eyemart Express CEO. “Seeing clearly should not be a burden or an excessive expense for any family. We work hard to make all our locations an affordable one-stop shop for all eyewear needs.”

Eyemart Express carries more than 2,000 frames for prescription glasses and sunglasses, ranging from exclusive private label brands to well-known brands such as Converse, Longchamp, Calvin Klein, Ray-Ban and Nike. Stores also feature onsite labs so 90 percent of glasses can be ordered and received on the same day.

“Eyemart Express’ growth helps entire communities as well. Job creation is an important factor in determining new store locations — we examine where Eyemart Express can make the biggest contribution to local economies with career opportunities,” said Bender.

More than 300 jobs will be created for hourly wage earners as a result of the optical retailer’s expansion.

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Warby Parker Rolls Out 5 Extended Sizes

They range from ‘extra narrow’ to ‘extra wide.’

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Eyewear  retailer Warby Parker is launching an “extended sizes” collection to help more consumers benefit from its products.

It features “five proportional sizes, ranging from ‘extra narrow’ to ‘extra wide’ and even including low bridge options,” the Observer reports.

Twenty-seven styles are available in seven best-selling frames.

To leverage augmented reality, the company utilized Apple’s ARKit and TrueDepth camera to create software that evaluates proper fit, according to the Observer.

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Warby Parker co-founder Dave Gilboa was quoted saying, “We started getting feedback from our customers saying, ‘I love these styles, but you don’t have anything that fits me’ or ‘you only offer one frame that fits me.’”

Chain Store Age reports that Warby Parker spent two years developing the new sizes.

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Vision Health Firm Buys Italian Company Focused on Retinal Screening and Telehealth

Next Sight develops robotic and IT technologies to provide ophthalmic diagnostic solutions.

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Luneau Technology has acquired Next Sight, an Italian company specialized in retinal screening and telehealth.

This acquisition “brings to Luneau increased capabilities – covering both Back and Front of the eye – to propose a comprehensive eye exam, which is a key customer need” and it “supports and brings a set of experience and technology which will help to drive forward a focus on a range of telehealth solutions for Luneau Technology group,” according to a press release.

Financial terms of the deal were not disclosed.

Paola Griggio, CEO of Next Sight, will continue to manage initiatives around retinal topics and will also take up a key leadership role as she is appointed vice president for telehealth at Luneau Technology.

Marc Abitbol, president and CEO Luneau Technology, said, “It is a great opportunity for Luneau Technology to expand our offer.

“We are very excited to enter the telehealth space and welcome Paola among our management team to lead this new capability for the group.”

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Luneau Technology produces devices aimed at ophthalmic, optometrists and optical professionals.

Next Sight develops robotic and IT technologies to provide ophthalmic diagnostic solutions. Next Sight produces Nexy, a device which allows retina screening through a platform to securely send patient data to remote locations.

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