(AOF) – EssilorLuxottica announced the launch of Helix, a new division of the group, intended to help eye care professionals take advantage of the latest generation technologies to manage their business more effectively. Presented as an “intelligent and interconnected platform”, Helix will address all the digital needs of eye care professionals “in an integrated manner, from appointment scheduling to orders, including tele-optometry and communication services. ‘supplemental health insurance’.
According to EssilorLuxottica, it will thus make it possible to rationalize the numerous existing technologies and reduce the weight of the administrative burden currently weighing on professionals.
Helix’s first offering, a new generation platform called Vision(X), will be made available to eye care professionals in the United States from the second quarter of 2024.
AOF – LEARN MORE
Key points
– World number 1 in ophthalmia and optics, born in 2018 from the merger between Essilor and Luxottica;
-Turnover of €24.5 billion achieved 52% in direct sales to the consumer (sunglasses and distribution via GrandVision) and 48% in solutions for professionals (mainly prescription lenses);
– Strong presence in America, for 47% of sales, in Europe-Africa-Middle East for 36%, in Asia-Pacific for 11% then in Latin America;
-Business model based on innovation, the integration of production, logistics and distribution processes at a global level and the use of big data for decision-making;
– Capital controlled at 32.1% by the del Vecchio family, by employees (4.4%) and marked by the presence (1.02%) of BPI France, Francisco Milleri being president and CEO and Paul du Saillant director delegated general;
– Healthy balance sheet with net debt of €10.4 billion, compared to €3.7 billion in cash and +€35 billion in equity.
Challenges
– 2022-2026 strategy targeting annual growth of 5% in turnover and an operating margin of 19 to 20%;
– Innovation strategy aimed at eradicating poor vision by 2050: articulated by 4 initiatives: improving vision, increasing the precision of eye exams, expressing a style and creating connected glasses / developing the portfolio of 2 350 patent families from the 8 R&D centers and the new laboratory in partnership with the Polytechnic of Milan;
– “Eyes on the planet” environmental strategy aiming for carbon neutrality in 2025, after Europe in 2023, with 2 strategic priorities: carbon: self-production of energy, compensation through reforestation and use of renewables,
circularity and integration of eco-design in all product developments, including through the acquisition of Fedon;
– Recognized assets – Ray-Ban and Oakley glasses, Varilux lenses, Transitions – and the rise of Stellest lenses;
– Maintaining investments in distribution networks: after GrandVision and Vitasi, American Walman laboratories and, in a joint company with CoopersCies, SightGlass Vision.
Challenges
– Results of the fight against the progression of myopia in children with Stellest lenses, now sold in France and Italy, with SightGlassVision lenses, with MiSightTM contact lenses, validated by health authorities in China and the United States ;
– Resumption of growth in e-commerce (7% of sales);
– Dividend of €3.23, up 29%, payable in shares or cash and continuation of the €2M share buyback program.
Learn more about the Consumer Goods sector
Cleaning, hygiene and beauty products: how to reverse the balance of power between producers and distributors
The Descrozaille law, recently adopted, caps the discounts that distributors can offer on cleaning, hygiene and beauty products. However, three quarters of these products currently display higher discounts: 52% on average on toothbrushes or 50% on dishwashing liquids, for example. The objective of this law is clearly to protect manufacturers on the grounds that it is essentially the suppliers who finance promotions, by cutting into their margins, and not the distributors. The measure therefore aims to limit the continued loss of value of the sector in recent years. According to the Circana firm (formerly IRI), the price of hygiene and beauty products fell by 13.4% between 2007 and 2022. For distributors, this law poses a risk to the 232 million euros in turnover (105 million euros for hygiene and beauty and 125 million euros for maintenance). However, this provision could also favor private label brands (MDD).