(Charenton-le-Pont, France 22 April 2014) – Essilor today announced the establishment of the Essilor Vision Foundation in Bangalore, India. The launch of this newly-registered charity is part of the Group’s strategy to meet the vision needs of people in every region of the world and, in particular, the 2.5 billion people who need access to vision correction and currently do not have it. The Essilor Vision Foundation’s expansion into India represents the first of several public charities that will be launched under the Essilor Vision Foundation banner in different countries in 2014.
A public charity to accelerate vision care for underdeveloped communities in India
It is estimated that as many as 550 million Indians have uncorrected poor vision. This has far-reaching social impact on individuals and their communities as well as an estimated economic impact of $37 billion in lost productivity each year in the Indian sub-continent[1]. In addition to its traditional business, Essilor has pioneered several inclusive business models in India over the past 10 years that aim to grow awareness of the importance of good vision and provide locally affordable eyeglasses to low income individuals and families. The launch of the Essilor Vision Foundation will now help accelerate the Group’s actions in favor of the 400 million people who live below the international poverty line in India.[2]
“The establishment of the Essilor Vision Foundation marks a new milestone in our goal to bring good vision to everyone in India. Our subsidiaries and partners there have been carrying out local charity initiatives for several years now”, said Jayanth Bhuvaraghan, Chief Corporate Mission Officer.
A global philanthropic network with an ambition to equip 4 million people with free eyeglasses by 2020
The Group has provided free vision care to almost 600,000 people around the world over the past 25 years. Activities include awareness campaigns, free vision screenings and the donation of eyeglasses. The Essilor Vision Foundation was founded in the USA in 2008 as a public charity and has steadily increased its impact thanks to a number of strategic partnerships that play a key role in raising the necessary funds.
“We now want to capitalize on our experience with the Essilor Vision Foundation in the USA and the energy of our teams worldwide to roll out the Essilor Vision Foundation in as many countries as possible and to achieve our global goal of providing free vision correction for 4 million people worldwide by 2020,” continued Jayanth Bhuvaraghan.
The Essilor Vision Foundation will soon be launched in Canada, China and Singapore. A number of other countries in Europe, Latin America and Asia-Pacific are also working on a local implementation of the Essilor Vision Foundation in 2014.
[1] Vision Impact Institute
[2] World Bank
| About Essilor Vision Foundation India
The Essilor Vision Foundation in India has been formed under the Indian Trust Act of 1882. It is headed by Mr. Dharmaprasada Rai, who brings 12 years of experience in health and community development with international organizations including the Clinton Foundation and Population Services International.
About Essilor The world’s leading ophthalmic optics company, Essilor designs, manufactures and markets a wide range of lenses to improve and protect eyesight. Its corporate mission is to improve lives by improving sight. To support this mission, the Company allocates more than €150 million to research and innovation every year, in a commitment to continuously bring new, more effective products to market. Essilor’s flagship brands are Varilux®, Crizal®, Transitions®, Definity®, Xperio®, OptifogTM, Foster Grant®,Bolon® and Costa®. It also develops and markets equipment, instruments and services for eyecare professionals. Essilor reported consolidated revenue of over €5 billion in 2013 and employs more than 55,000 people. It distributes its products in some 100 countries with 28 plants, more than 450 prescription laboratories and edging facilities, as well as several research and development centers around the world. For more information, please visit www.essilor.com |
The Essilor share trades on the NYSE Euronext Paris market and is included in the Euro Stoxx 50 and CAC 40 indices. Codes and symbols: ISIN: FR0000121667; Reuters: ESSI.PA; Bloomberg: EI:FP.