BREAKING NEWS – 26.09.2023

In a press release of September 22, 2023, iVision Tech, an Innovative SME and a Made in Italy manufacturing excellence active in the design and production of acetate eyeglass and sunglass frames and combination eyewear, announced that it has been awarded, through a competitive sale, the Maison Henry Jullien SAS business unit, based in Morez à Hauts-de Brienne, France. Henry Jullien is a historic French high-end brand, certified EPV (Entreprise du Patrimoine Vivant) and specialized in the production of laminated gold eyewear. Founded in 1921, Henry Julien in over 100 years of activity has developed significant skills in the manufacture of laminated gold frames (Double Or Laminé) that distinguish it on the international market. The company is characterized by an artisanal nature of its production processes since all frames are designed, manufactured and assembled by hand, by highly skilled master craftsmen, following a very rigorous process, which then results in a high quality final product. The Company, with this operation, intends to take over the important assets of the transalpine company, with a focus on the “Henry Jullien” and “Henry Jullien Manufacture” brands, the stock of semi-finished and finished products in the warehouse, and the design know-how.  The operation will allow iVision Tech to take part in the next major eyewear trade show, scheduled from September 29 to Octtober 2 in Silmo. In fact, the company will be present directly with the Henry Jullien brand so as to present its latest innovations to customers and visitors. Furthermore, on September 25, 2023, through a new press release, Vision Tech announced that the transaction was carried out through the establishment of a fully owned Newco, and that the economic value of the transaction, amounting to € 0.15 million has already been fully paid with the Company own resources. At the same time, the company also specified the assets that form the newly acquired business unit, namely: Intangible assets: the “Henry Jullien” and “Henry Jullien Manufacture” brands, software and software packages, customer goodwill and design know-how; Tangible assets: office furniture and equipment, production equipment and production facilities;  Warehouse: raw materials, packaging, semi-finished and finished products and advertising materials; Personnel: 16 employees; Administrative and legal permits, certifications, and the necessary approvals and qualifications for operation. With the operation in mind and awaiting the publication of the half-year financial statements for the first part of the current fiscal year, we confirm our estimates: target price € 3.90, rating BUY and risk MEDIUM

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