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BUSINESS
August 11, 1997 | (Reuters)
The Italian head of the corporate parent of the LensCrafters optical chain has made his 2-year-old son one of the wealthiest toddlers in the world, according to weekend newspaper reports. Italian newspapers said Leonardo Del Vecchio gave his son, Leonardo Maria, a 24.4% stake in the family holding that controls eyeglass maker Luxottica, parent of LensCrafters. They said the shares are worth more than $555 million.
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CALIFORNIA | LOCAL
December 4, 1997 | SYLVIA L. OLIANDE
There was strength in numbers at an optical store Wednesday as grade school students were examined and fitted for eyeglasses, often an ordeal for young children self-conscious about being different. But, since they went as a group, it was as though they were members of an exclusive club. The store served nearly 50 students from 10 elementary schools in Canoga Park and Woodland Hills, donating a pair of glasses to each as part of LensCrafters' nationwide "Gift of Sight" program.
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BUSINESS
August 25, 1988 | From Reuters
With U.S. Shoe Corp. considering the sale of its fast growing LensCrafters optical "superstore" chain, Wall Street is speculating that Sears, Roebuck & Co. and Britain's Grand Metropolitan PLC will be among possible suitors. Last week, U.S. Shoe, the Cincinnati-based specialty retailer and shoe manufacturer, announced that it was considering selling all or part of the company, including LensCrafters. At stake are 255 optical superstores, a growing part of the $11.2-billion optical retail market.
BUSINESS
August 11, 1997 | (Reuters)
The Italian head of the corporate parent of the LensCrafters optical chain has made his 2-year-old son one of the wealthiest toddlers in the world, according to weekend newspaper reports. Italian newspapers said Leonardo Del Vecchio gave his son, Leonardo Maria, a 24.4% stake in the family holding that controls eyeglass maker Luxottica, parent of LensCrafters. They said the shares are worth more than $555 million.
BUSINESS
April 7, 1992 | TED JOHNSON, SPECIAL TO THE TIMES
For months, Frame-N-Lens, an optical products retailer, has run advertisements that claimed its customers can get the same eyeglasses at a savings of up to $72 from the price charged by a major competitor, LensCrafters. Truth in advertising? Or is Frame-N-Lens looking through rose-colored glasses to come up with the price comparisons? LensCrafters, a Cincinnati-based chain of eyeglass stores, is alleging in a lawsuit that Frame-N-Lens' ads are false and misleading.
CALIFORNIA | LOCAL
December 4, 1997 | SYLVIA L. OLIANDE
There was strength in numbers at an optical store Wednesday as grade school students were examined and fitted for eyeglasses, often an ordeal for young children self-conscious about being different. But, since they went as a group, it was as though they were members of an exclusive club. The store served nearly 50 students from 10 elementary schools in Canoga Park and Woodland Hills, donating a pair of glasses to each as part of LensCrafters' nationwide "Gift of Sight" program.
CALIFORNIA | LOCAL
November 18, 1994 | TIM MAY
Lens Crafters will provide free eye care, prescriptions and glasses for 48 abused and neglected children who reside at the Hathaway Children's Services residential campus in Sylmar. The gift is part of an annual charitable program that targets needy children in Southern California communities. The eye care and glasses will be administered at Lens Crafters locations in Northridge and Sherman Oaks.
BUSINESS
April 17, 1995 | JAMES F. PELTZ, TIMES STAFF WRITER
A hostile takeover fight for U.S. Shoe Corp. ended peacefully Sunday night when the company said it agreed to a sweetened, $1.3-billion buyout offer from Italy's Luxottica Group. The tentative pact was struck after Luxottica raised its bid to $28 in cash for each of U.S. Shoe's 46.7 million common shares outstanding. Luxottica had on March 3 launched an unsolicited bid of $24 a share, which U.S. Shoe had rejected as inadequate. U.S. Shoe's stock closed at $26.
BUSINESS
January 7, 2000 | LESLIE EARNEST, TIMES STAFF WRITER
Sunglass maker Greg Arnette, who launched a business from the trunk of a rental car and later sold it to one of the world's largest optical companies, retired this week at 48. Arnette's departure from Arnette Optic Illusions Inc. follows the resignation Monday of the company's chief operating officer, Bruce Beach. Arnette said the timing of the two departures from the San Clemente sports-oriented sunglass business was coincidental.
BUSINESS
April 17, 1995 | JAMES F. PELTZ, TIMES STAFF WRITER
A hostile takeover fight for U.S. Shoe Corp. ended peacefully Sunday night when the company said it agreed to a sweetened, $1.3-billion buyout offer from Italy's Luxottica Group. The tentative pact was struck after Luxottica raised its bid to $28 in cash for each of U.S. Shoe's 46.7 million common shares outstanding. Luxottica had on March 3 launched an unsolicited bid of $24 a share, which U.S. Shoe had rejected as inadequate. U.S. Shoe's stock closed at $26.
CALIFORNIA | LOCAL
November 18, 1994 | TIM MAY
Lens Crafters will provide free eye care, prescriptions and glasses for 48 abused and neglected children who reside at the Hathaway Children's Services residential campus in Sylmar. The gift is part of an annual charitable program that targets needy children in Southern California communities. The eye care and glasses will be administered at Lens Crafters locations in Northridge and Sherman Oaks.
BUSINESS
April 7, 1992 | TED JOHNSON, SPECIAL TO THE TIMES
For months, Frame-N-Lens, an optical products retailer, has run advertisements that claimed its customers can get the same eyeglasses at a savings of up to $72 from the price charged by a major competitor, LensCrafters. Truth in advertising? Or is Frame-N-Lens looking through rose-colored glasses to come up with the price comparisons? LensCrafters, a Cincinnati-based chain of eyeglass stores, is alleging in a lawsuit that Frame-N-Lens' ads are false and misleading.
BUSINESS
August 25, 1988 | From Reuters
With U.S. Shoe Corp. considering the sale of its fast growing LensCrafters optical "superstore" chain, Wall Street is speculating that Sears, Roebuck & Co. and Britain's Grand Metropolitan PLC will be among possible suitors. Last week, U.S. Shoe, the Cincinnati-based specialty retailer and shoe manufacturer, announced that it was considering selling all or part of the company, including LensCrafters. At stake are 255 optical superstores, a growing part of the $11.2-billion optical retail market.
BUSINESS
January 1, 1992 | From Times Staff and Wire Reports
Sterling Optical Files For Bankruptcy: Eyeglass retailer Sterling Optical Corp., pummeled by the recession and competition, said it filed for bankruptcy court protection and agreed to sell its stores. A drastic drop in sales brought on by the recession caused the company to seek shelter from creditors under Chapter 11 of the federal bankruptcy code, it said in a statement.
NEWS
November 20, 1996
The holidays are here! A time for giving. A time for sharing. A time for stress! The kids out of school . . . the endless shopping for gifts . . . the holiday parties . . . and let's not forget the relatives coming in from out of town. Dr. Robert Kay, nutritional research director at Leiner Health Products, says, "You can't beat the basics when it comes to minimizing the health effects of stress." Eat right, get enough rest and exercise regularly.
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