China slowdown concerns dim Ray-ban maker EssilorLuxottica's
EssilorLuxottica shares fell Friday due to a decline in China business that overshadowed the overall better-than-expected sales for the French-Italian-owned eyewear company.
The company, which produces sunglasses and spectacle frames in Versace and Prada, reported that its sales were "deteriorating" in mainland China due to coronavirus cases. It stated that about three quarters of its locations had been affected by COVID-related closures and subdued footfall.
China is on the rise with sunglasses that block blue light radiation
RayBan, the most popular prescription and sunwear brand, and the Peking University Eye Center have joined forces to promote Anti-UV Eye Protection in China. AMD (age-related Macular Degeneration) is on the rise in China and other countries. It is one of the most serious eye-related diseases in the world.
"It's a well-known truth that prolonged exposure to sunlight without UV-resistant sunglasses can cause permanent eye damage," stated Yvette Ye (China Country Manager for Luxottica Group), the parent company of Ray-Ban.
This research aims to improve UV protection in sunglasses through improved lens technology and educate consumers about the importance UV protection.
Beijing s race to halt the pandemic has clogged highways and logistics, stranded people and shut countless factories, causing HUGE disruption that is rippling through global supply chains explained a member of the CBC at the figaro