EU gotta know when to hold ‘em: America's latest trade deal
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Fashion United
2 hours ago
- Fashion United
India's Lenskart acquires 80 percent stake in Spanish brand Meller for over 40 million euros
Lenskart, the innovative Indian eyewear company, has acquired an 80 percent stake in Meller, a digitally native sunglasses brand based in Barcelona. The deal, valued at over 40 million euros, marks Lenskart's first strategic move into the European market. The acquisition was announced in a filing with the Securities and Exchange Board of India. According to The Times of India, the transaction involves payments of 406 million rupees (4.5 million euros), distributed between Meller's investors and its three founders—Sergi Benet, Borja Nadal, and Marco Grandi. Meller, founded in 2014, has built a successful digital-first model, with 96 percent of its sales occurring online. The brand has cultivated a strong following among younger consumers, amassing over 650,000 followers on Instagram and generating more than 25 million daily impressions. In 2024, Meller reported revenues of 28.3 million euros and an EBITDA of 5.8 million euros. Notably, Meller's production is already based in India, creating a strong operational synergy with its new parent company. Founded in 2010, Lenskart has become a global leader in the optical sector. With more than 2,500 physical stores and an annual distribution of over 30 million pairs of glasses, the company has developed a scalable omnichannel model that combines contemporary design with competitive pricing and in-house production. This acquisition was facilitated through Lenskart's Singapore subsidiary and is part of a broader expansion plan outside of Asia, supported by major investors like Softbank and Abu Dhabi Investment Authority. The move comes as Lenskart prepares for a potential initial public offering (IPO), with a valuation that could reportedly exceed 5 billion dollars. In summary Barcelona-based company Meller, specialising in sunglasses, has been 80 percent acquired by the Indian group Lenskart for over 40 million euros. Meller, founded in 2014, stands out for its 100 percent digital model, online sales and a strong international presence, generating revenues of 28.3 million euros in 2024. Lenskart, an Indian optical giant with global ambitions, seeks to expand outside of Asia with this acquisition, backed by investors and preparing for a potential IPO. This article was translated to English using an AI tool. FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@
Scottish Sun
3 hours ago
- Scottish Sun
New overnight sleeper train to connect 100 European cities with private cabins and panoramic views
The starting price is cheaper than a return flight in some cases FULL STEAM AHEAD New overnight sleeper train to connect 100 European cities with private cabins and panoramic views A SLEEPER train service is set to launch as an alternative to taking short-haul flights across Europe. The company called Nox has revealed plans to have private cabins with unbeatable views for passengers while connecting them across countries - and at an affordable price too. Advertisement 5 The Nox cabins will be completely private with huge panoramic windows Credit: Nox Mobility 5 Two of the three types of cabin will have 'loft-style' beds Credit: Nox Mobility Rather than queuing at an airport for hours for a flight that's half the time, this company has an alternative that sounds pretty good, if it gets off the ground. Berlin start-up Nox wants to "build a real alternative to short-haul flights" with entirely private rooms on its sleeper trains from 2027. Nox hopes to connect lots of cities across Europe starting with the likes of Stockholm, Vienna, Amsterdam, Toulouse, Barcelona all the way to Reggio di Calabria in Italy. And while you might be thinking that's an unpleasant journey sitting next to a stranger, well these cabins are completely private. Advertisement Inside will be a 2-metre-long bed, chair, storage, charging ports and panoramic window to gaze out of. On its website, Nox said: "Nox will focus on privacy, good sleep and affordable prices. "You will not need to share your room with strangers and can lock it from in- and outside. On top, we aim to offer ticket prices as low as air fares." It continued to add that the spacious design meant all personal luggage and items could also go into the cabin and not be left outside. Advertisement While tickets aren't yet on sale, Nox hopes to be as "affordable as a flight." It estimates single rooms will be as low as €79 (£68.77), with double rooms from €149 (£129.70). Picturesque English town is getting new £27m train line for first time in 60 years – & will cut journey times by an hour 5 The cabins have storage as well as places to sit and work Credit: Nox Mobility 5 Eventually Nox wants to connect 100 European cities Credit: Nox Mobility Advertisement Nox added that prices will be "flexible depending on demand." It will have three room types, the single and double rooms will have loft style beds which passengers can get to by climbing a short ladder. Double Vista rooms have two beds, one being low and another chest-height for easy access. When passengers aren't sleeping, they can convert the beds into two seats. Advertisement Thibault Constant, co-founder of Nox said: "Sleeping while a train gets you across Europe is a great concept. But today people have to share their cabins with strangers, beds are tight, and it's often more expensive than air travel. "We want to change that and make night trains an essential part of European travel." Nox is asking keen travellers to sign up for 'Early Bird perks' like 20 per cent off their first booking. There's also a free welcome drink and the chance to book a week before anyone else. Advertisement Other possible perks include premiere ride lottery, behind-the-scenes tours and testing before the official launch. Plus, the seven stunning European cities that Brits could take direct trains to as London station plans huge expansion. And the little-known UK train trick that lets you visit up to three destinations for the price of one – and the best routes to do it. 5 Nox hopes to launch its first route across Europe by 2027 Credit: Nox Mobility
Glasgow Times
4 hours ago
- Glasgow Times
Stakes rise in Russia-Ukraine war as Trump's deadline for Kremlin approaches
Mr Trump's special envoy Steve Witkoff was expected in Moscow in the middle of this week, just before Mr Trump's Friday deadline for the Kremlin to stop the killing or face potentially severe economic penalties from Washington. Previous Trump promises, threats and cajoling have failed to yield results, and the stubborn diplomatic stalemate will be hard to clear away. Meanwhile, Ukraine is losing more territory on the front line, although there is no sign of a looming collapse of its defences. Emergency workers inspect damage from a Russian missile (Efrem Lukatsky/AP) Mr Witkoff was expected to land in the Russian capital on Wednesday or Thursday, according to Mr Trump, following his trip to Israel and Gaza. 'They would like to see (Witkoff),' Mr Trump said on Sunday of the Russians. 'They've asked that he meet so we'll see what happens.' Mr Trump, exasperated that Russian president Vladimir Putin has not heeded his calls to stop bombing Ukrainian cities, a week ago moved up his ultimatum to impose additional sanctions on Russia as well as introduce secondary tariffs targeting countries that buy Russian oil, including China and India. Kremlin spokesman Dmitry Peskov said on Monday that officials are happy to meet with Mr Trump's envoy. 'We are always glad to see Mr Witkoff in Moscow,' he said. 'We consider (talks with Witkoff) important, substantive and very useful.' Mr Trump said on Sunday that Russia has proved to be 'pretty good at avoiding sanctions'. 'They're wily characters,' he said of the Russians. The Kremlin has insisted that international sanctions imposed since its February 2022 invasion of its neighbour have had a limited impact. Ukraine insists the sanctions are taking their toll on Moscow's war machine and wants Western allies to ramp them up. Ukrainian president Volodymyr Zelensky on Monday urged the United States, Europe and other nations to impose stronger secondary sanctions on Moscow's energy, trade and banking sectors. Mr Trump's comments appeared to signal he does not have much hope that sanctions will force Mr Putin's hand. The secondary sanctions also complicate Washington's relations with China and India, who stand accused of helping finance Russia's war effort by buying its oil. Since taking office in January, Mr Trump has found that stopping the war is harder than he perhaps imagined. Senior American officials have warned that the US could walk away from the conflict if peace efforts make no progress.
