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BUSINESS
April 22, 1999 | LESLIE EARNEST, TIMES STAFF WRITER
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.
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BUSINESS
March 30, 1999 | LESLIE EARNESTa, TIMES STAFF WRITER
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.
BUSINESS
March 17, 1999 | CYNDIA ZWAHLEN, SPECIAL TO THE TIMES
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.
NEWS
December 13, 1998 | CASEY COMBS, ASSOCIATED PRESS
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.
BUSINESS
November 19, 1998 | Associated Press
Bausch & Lomb Inc., maker of Ray-Ban, Revo, Liz Claiborne and Killer Loop sunglasses, might jettison its premium fashion eye wear business to focus on eye health care. The company said it has hired investment firm Warburg Dillon Reed to advise it on options, which could include a sale, spinoff or joint venture. Eye wear sales have been hurt by a cutback in orders from retailer Sunglass Hut International Inc., Bausch & Lomb's largest customer.
BUSINESS
November 19, 1998 | From Bloomberg News
Bausch & Lomb Inc., the maker of Ray-Ban, Revo, Arnette, Liz Claiborne and Killer Loop sunglasses, may jettison the premium fashion eye wear business it has built up since the 1920s to focus on eye health care. The Rochester, N.Y.-based company has hired investment firm Warburg Dillon Reed to advise it on options for the business, which hasn't turned a profit recently. Those include a sale, a spinoff or forming a joint venture.
BUSINESS
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.
BUSINESS
August 14, 1998 | LESLIE EARNEST, TIMES STAFF WRITER
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.
BUSINESS
July 19, 1998 | Bloomberg News
Sunglasses manufacturer Oakley Inc. said Thursday that it has added a patent-infringement claim over lens coatings to a lawsuit it filed against Nike Inc. last year. In an amended complaint in federal court in Santa Ana, Oakley contends sneaker and apparel giant Nike copied its patented Iridium lens-coating technology in Nike's sunglasses line. The coating helps cut glare and allows wearers to tailor the glasses' tint for specific purposes, according to Oakley, which is based in Foothill Ranch.
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