April 29, 1999 |
Bausch & Lomb Inc. said Wednesday it plans to sell its sunglass business that includes the Ray-Ban brand for $640 million to Italy's Luxottica Group. Luxottica makes eyeglass frames in the medium- and premium-priced categories with brand names such as Giorgio Armani, Brooks Brothers and Anne Klein, and it owns the LensCrafters retail chain. Bausch & Lomb controls about 40% of the global premium-sunglass business, which also includes brands such as Revo, Killer Loop and Arnette priced above $30.
April 22, 1999 |
In a surprise move, sunglass maker Oakley Inc. demoted its chief executive, replacing him with a former Gatorade executive with extensive marketing and advertising experience. William D. Schmidt, 51, who departed Gatorade last month as vice president of Worldwide Sports Marketing, will take over as chief executive of Foothill Ranch-based Oakley on May 1. He replaces Link Newcomb, who becomes chief operating officer, a new position.
March 30, 1999 |
In a departure from its normal business strategy, Oakley Inc. said Monday it will sell its high-tech lenses to frame maker Signature Eyewear for a new line of sunglasses. Inglewood-based Signature will use the lenses to make Eddie Bauer sunglasses, which will be available for sale early next year. The agreement is unusual for Oakley, which fiercely guards the technology used in its products.
March 17, 1999 |
When the dinner bill arrived, actor Jack Nicholson took out his credit card and a plastic magnifying lens of the drugstore variety. "What are you doing?" asked friend and business partner Alan Finkelstein, who was dining with him at Abetone's in Aspen, Colo. "I am trying to see the bill so that I can pay the bill," Nicholson said. Then, as Finkelstein tells the tale, the proverbial lightbulb went off in his head.
December 13, 1998 |
In 2020, the fashionably wired mother of three will make no ordinary trip to the grocery store. After scanning her cupboards, she will recite a list into a microphone built into her eyeglasses. The items will be translated into text and appear on a computer screen built into the lenses. Inside the store, the woman's identification ring will broadcast her buying habits to the store computer, which will beam back discount prices to the monitor in her eyeglasses.
October 6, 1998
Van Nuys-based Cherokee, which licenses its brand name to various clothing firms for a fee, has entered into an exclusive three-year U.S. licensing agreement in which a division of Bausch & Lomb Inc. will make and sell sunglasses bearing Cherokee's Sideout label. Other terms of the deal, including the royalty payment to Cherokee, were not immediately disclosed. The agreement with Denver-based Outlook Eyewear expands the product line marketed under the Sideout trademark.
August 14, 1998 |
In one of the largest busts involving fake Oakley Inc. eye wear, detectives raided a South El Monte warehouse Thursday morning and confiscated about 100,000 pairs of counterfeit sunglasses with a street value of about $10 million, police said. The raid at KSY Trading at 11237 Thienes Ave. followed a six-month investigation, police said. The company received the component parts from Taiwan and assembled the sunglasses at the warehouse, police said.