BREAKING NEWS – 18.06.2024

In a press release of June 17th, 2024, iVision Tech, an Innovative SME and a Company of excellence in “Made in Italy” manufacturing active in the design and production of prescription eyeglass frames and acetate sunglasses, as well as combination eyewear, and owner of the historic high-end French eyewear brands “Henry Jullien” and “Henry Jullien Manufacture” announced that it has signed a six-year agreement for the exclusive distribution in Italy of Henry Jullien-branded eyewear with Filab Srl (“Filab” or “Filab Lenti Italiane”), a Lucca, Tuscany-based company specializing in the production of high-quality ophthalmic lenses. Founded in 1993, Filab Lenti Italiane is focused on the production and distribution of ophthalmic lenses, with a production capacity of about 2,500 lenses per day and sales of about € 16,00 million as of December 31st, 2023. Thanks to the newly signed agreement, Filab will distribute Henry Jullien brand eyewear through the 2,000 opticians with whom it collaborates. With 30 years of experience in the industry and constant research of innovative materials and production processes, Filab is able to offer exceptional visual comfort to its customers.  The agreement between iVision Tech and Filab Lenti Italiane is part of the development strategy of the Henry Jullien brand in the Italian market, which was acquired in September 2023, creating a functional synergy that combines the excellence of French luxury frames with the highest quality ophthalmic lenses produced entirely in Italy by Filab. In light of the press release, we confirm our estimates: target price € 3.30, rating BUY and risk MEDIUM.

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