Hot List: November 2012
1 Loving Luxe
The 2012 Survey of Affluence and Wealth in America produced by American Express Publishing and Harrison Group, which examined Americans who have a minimum discretionary income of $100,000, found the following.
The total discretionary luxury consumption market for 2012 will be approximately $375 billion.
The average wealthy family is expected to spend approximately $20,000 on luxury categories in the next 12 months.
Luxury spending in the U.S. has risen three percent since 2011.
2 FACE TO FACE
The Luxury Institute’s “Wealth and Luxury Trends 2012 and Beyond” white paper states that there is a renewed emphasis on the store as the key to relationship building. The paper reports that online luxury sales account for just 20 percent of total sales, and customers who have a true human relationship with a brand ambassador typically buy double from that brand and stay loyal for a longer period of time.
PM Digital, an online marketing agency, revealed the two most common sources of traffic to luxury brand websites.
Other apparel websites 33.89%
Search engines 33.10%
The Economic Sentiment Survey, recently released by MasterCard Advisors, revealed that the presidential election will have a big impact on how U.S. consumers view their financial future—and in turn, their purchasing habits. 31% say the election will make make “a great deal of difference” 40% indicated it would make “some difference”
ESSILOR Honored by Special Olympics
With the backdrop of the Capitol Building, Essilor CEO Hubert Sagnieres was recently honored by Special Olympics at the National Museum of the American Indian. While accepting the award, presented by Dr. Timothy Shriver, chairman and CEO of Special Olympics, Sagnieres took the opportunity to announce Essilor’s continuing commitment to Special Olympics for another decade. Going forward, that involvement will be handled through the Essilor Vision Foundation, whose president, Stephen Shawler, was on hand as well.
In addition to Mr. Shriver and several Special Olympians, including two whose speeches clearly moved the audience, Olympic medalists Michelle Kwan and Donna DeVarona were also present.
Talking about the Special Olympics, which was founded by his mother, the late Eunice Kennedy Shriver, Tim Shriver said, “We want to build a movement [of people] who see courage from the inside out. Too many of our athletes are still in dark places. Our fundamental strategic plan is that everybody can make a difference.”
Accepting the award, Sagnieres said, “At Essilor we strive to correct poor vision…the most widespread disability in the world. Fortunately, 80 percent of vision disorders are correctable.”
Added Special Olympics senior director David Evangelista, “This isn’t just about sight. It’s about the rights of persons with intellectual disabilities.”
|ESA to Merge into The Vision Council|
The Vision Council and the European Sunglass Association (ESA) have both signed a comprehensive Joint Operating Agreement. The agreement is effective immediately, with the intent to fully merge ESA into the Vision Council within 12 months. ESA leadership and related committees will remain in place for one year to ensure a smooth transition. The new union is an important step toward the establishment of a strong presence in Europe and will enable The Vision Council to better address European-based issues, representatives say.
ESA members are entitled to select from six operating divisions within The Vision Council that provide guidance, education programs, marketing materials, research, and advocacy outreach to address common interests among members. Each member is also eligible to serve on the various committees, subcommittees, and taskforces under The Vision Council structure.
1. Essilor’s Hubert Sagnières (l) receives an award from Dr. Timothy Shriver; 2. David Eagan and Ashley Counts, both Global Messengers for Special Olympics, address the crowd; 3. Leadership from Essilor and the Special Olympics share in the celebration, including former Olympic champions Donna DeVarona and Michelle Kwan
Marchon Acquires Scandinavian Eyewear
Marchon Eyewear recently announced the acquisition Scandinavian Eyewear, a Swedish eyewear company The acquisition allows Marchon to capture the prominent share the company has in the Scandinavian market and broaden the distribution of proprietary and licensed brands worldwide, company representatives say.
|PAI Partners Acquires Majority Share of Marcolin|
|Marcolin S.p.A. and PAI Partners, a leading European private equity firm, have reached an agreement for PAI’s acquisition of a majority stake of Marcolin from its major shareholders, including the Marcolin family, the Della Valle brothers, and Antonio Abete. The purchase, under which PAI will gain 78.39 percent of the share capital of Marcolin, will be carried out by Cristallo S.p.A. Upon close of sale, Cristallo will launch a mandatory public tender offer on Marcolin’s shares. The transaction is expected to be completed in November.|
GET PAID FOR PRAISE
SolutionReach, provider of SaaS-based patient engagement and communication platform solutions for healthcare practices, has launched a new rewards program for its valued customers. Designed to encourage satisfied customers to help spread the word about SolutionReach services to their colleagues, the SR Referral Rewards program pays practices and individuals referring or selling the SolutionReach service. Customers receive $500 for each successful referral, and $2,000 for every 10th referral—one more way SolutionReach helps add to your bottom line.
On The Town
1. Satisloh invited VEW attendees to build their own prescription lenses using the company’s Micro-Labs demonstration lines; 2. (l to r) Hank Edelhauser, PhD, Emory University, was presented with the Innovation and Research Award, and Lewis Groden, MD, University of South Florida, was presented with the Light of Sight Award at the Lions Eye Institute for Transplant & Research's 2012 Eye Ball Gala; 3. Vision-Ease Lens employees gathered for a group shot at a Twin Cities Habitat for Humanity build site; 4. Efrain Perez, lab manager for the U.S. Alain Mikli, shared insights for working with product and patients at a VIP optical retailers event held at the 79th Street Alain Mikli shop; 5. Alain Mikli addresses attendees during one of his stops on his North American tour; 6. Essilor of America president and CEO John Carrier, with Bill Glancy, mayor of Farmer’s Branch, TX, cut the ribbon to signify the opening of Essilor’s newest Innovation and Technology Center; 7. (l to r) Essilor of America’s Steve Cunningham, senior vice president, human relations, and Kevin Rupp, CFO and senior vice president, finance and administration, with Farmer’s Branch city council members Ben Robinson and David Koch, enjoyed the outdoor celebration; 8. (l to r) Trelia Ghaazee, Audrey Reed, and Marina Pation showed off Essilor Vision Foundation’s mobile exam trailer that provides exams and glasses to children in need
Satisloh debuted a new booth at Vision Expo West, allowing attendees to build their own Rx using the company’s three fully functioning Micro-Labs lines.
The Lions Eye Institute for Transplant & Research’s 2012 Eye Ball Gala, held at T. Pepin’s Hospitality Centre in Tampa, FL, helped raise approximately $125,000. At the event, Emory University’s Henry F. Edelhauser, PhD, and the University of South Florida’s Lewis R. Groden, MD, were honored for their contributions to the optical industry.
As part of a partnership with Twin Cities Habitat for Humanity, Vision-Ease Lens employees helped to build a home in Coon Rapids, MN.
As part of his North American tour, Alain Mikli hosted an event for VIP optical retailers at his 79th Street shop in New York. Mikli’s other visits included Montreal, Quebec, New Jersey, and his other NYC locations.
Essilor of America hosted company leaders and city officials in early October as it celebrated the grand opening of its Innovation and Technology Center at the company’s headquarters in Farmer’s Branch, TX.
The Innovation and Technology Center (I&TC), relocated from St. Petersburg, FL, allows the company to combine and strengthen its research, development, and engineering resources by putting them under one 43,000-square-foot roof. It is one of three Essilor I&TCs around the world along with Paris and Singapore. According to Kevin Rupp, CFO and senior vice president, finance and administration of Essilor of America, the state-of-the-art facility features the latest in safety and equipment for the chemists and engineers working there. “It’s an environment in which they can thrive,” he says. “As we turn this facility over to them, the future becomes theirs.”
REGISTER NOW for the 2013 Executive Summit
Registration is now open for The Vision Council’s 2013 Executive Summit, to be held January 16 to 18 at the Ritz-Carlton Key Biscayne in Miami, FL. Designed as a business strategy and networking event for senior and C-level executives, attendees will gain insight on how to drive innovation, build a sound business strategy, and implement relevant leadership tactics.
Keynote speaker Eric Ryan, co-founder of Method Products, Inc., will discuss building retail and consumer concepts. The Institute for Trend Research’s senior economist Andrew Duguay will return to provide an economic update and forecast market trends. Other highlights include a breakout on building customer loyalty; a leadership workshop designed to prime organizations for success and profit; an industry panel on The Future of Eyewear Retail; and more than 12 hours of dedicated networking time and division-specific meetings, including the first ever Sunglass & Reader Division Power Breakfast and a breakthrough Strategic Planning Meeting for members of The Vision Council’s Lens Processing Technology Division.
|Ophthonix Announces Closure|
After 12 years of service, Ophthonix, makers of wavefront-guided vision correction technology and iZon lenses, closed its doors last month. Company representatives have cited the economic situation as the reason for the abrupt suspension of its operations.
As specified on the company’s website, Ophthonix suspended all work on October 22. The company returned all incomplete customer frames at no charge and recommended accounts restart any current jobs with another lab of their choice.
1. Charles Kelley of country pop music group Lady Antebellum sampled a pair of Island Time shades by Maui Jim. Lady Antebellum recently released a new Christmas album, “On This Winter’s Night.”
2. Actress Charlize Theron was spotted in Calvin Klein style ck4156s sunglasses by Marchon. Catch Theron as the Evil Queen Ravenna in the blockbuster hit “Snow White and the Huntsman,” which was recently released on DVD.
3. “Modern Family” star Eric Stonestreet hit the red carpet of the 64th annual Emmy awards wearing Tumi Coronado sunglasses by REM Eyewear. Stonestreet took home the Emmy for Outstanding Supporting Actor in a Comedy Series.
4. Actor Jeremy Piven was all smiles in the Federico frame by Sama Eyewear. The “Entourage” alum is busy filming the upcoming TV mini-series, “Mr. Selfridge.”
Ride Raises Donations for MS
Zach McLean, ABOC, in the starting lineup
The MS Valero Alamo Ride to the River 2012, running October 13 and 14, saw Team In-Vision participating for its second year. Team captain Zach McLean, ABOC, cycled the event and Karlen McLean, ABOC, NCLC, LDO, volunteered at the finish line.
The event, raising $969,655.56, was “one of the best,” according to event organizers. Team In-Vision exceeded their goal by raising $1,290—much of it donated by optical industry individuals—to help make a difference for everyone living with multiple sclerosis.
|Test Your Mettle!|
We feature one question each month for optometrists from a previous Varilux Optometry Super Bowl and one for opticians from a National Federation of Opticianry Schools College Bowl.
Thanks to Essilor and NFOS for providing this month’s questions and answers.
Q. What class of pharmaceutical agents includes tafluprost (Taflotan®)?
Q. Light travels approximately 186,000 miles per second. Dividing the speed of light through air by the speed of light through a new transparent medium calculates ____________?
For the answers, go to FYI on page 82
|Adlens and Mondottica Partner for Adlens Europe|
Adlens has entered into an agreement with Mondottica to embark on a combined venture, Adlens Europe. Both companies have approved a Memorandum of Understanding with a formal joint venture agreement to be finalized and approved by the end of 2012. The agreement will enable Adlens Europe to sell Adlens’ existing products—Hemisphere, The John Lennon Collection, and Emergensee—as well as all future products built on Adlens’ fluid-injection and Alvarez technology.
Aldens Europe’s executive management group will be made up of Mondottica executives and will operate under the direction of a board composed of an equal number of executives from both parties and will be responsible for all strategic decision making.
|VSP Labs Rebrands to VSPOne|
VSP Optics Group has announced the rebranding of its laboratory division, VSP Labs, to VSPOne Technology Centers to put forth a more united identity. As a result, VSP Labs Columbus is now VSPOne Columbus; Legends 4.0 Optical Laboratory is now VSPOne Dallas; Ultra Lens Optical Laboratory is now VSPOne Fort Lauderdale; Capitol Optical Laboratory is now VSPOne Olympia; VSP Labs Sacramento is now VSPOne Sacramento; Perfect Optics is now VSPOne San Diego; and Zeiss/VSP Lab Tampa Bay is now VSPOne Tampa Bay.
In addition, VSP Lab Rewards is now VSPOne Rewards. The rewards programs and promotions will not change and members will retain points earned under the old program.
INFO: vspone.com, vsponerewards.com
Top, Younger Optics’ NuPolar app; bottom, the i.Demo app by Carl Zeiss Vision
Carl Zeiss Vision has released a new interactive i.Demo app specifically for the Apple iPad. Designed to help patients choose the best lenses and treatments for their needs, the free app includes easy-to-understand lens information and images, as well as an optional profile feature allowing ECPs to capture a patient’s needs and the recommended lens solution, which can then be printed and handed to the patient.
NuPolar, Younger Optics’ educational iPad app, makes demonstrating polarized lenses both interesting and exciting. The high-tech, free app educates patients on the benefits of polarized Rx eyewear and sunwear via a narrated video featuring crisp, clear images and computer graphics. The app also provides real-life simulations in which NuPolar lenses improve vision by blocking glare; a history of polarized lens technology; as well as the availability of NuPolar lens materials and colors and the benefits of each.