Pearle Vision Re-Licenses 13 Neighborhood Eye Care Centers in 2013
Leading Optical Brand Expands with Four New and Eight Existing Licensees
MASON, Ohio (July 9, 2013) - Pearle Vision, one of North America's largest and most trusted licensed optical brands, announced today it has signed licensing agreements converting 13 of its neighborhood eye care centers from company-owned to licensees. This is the result of the company’s 2013 expansion plans to re-license 34 company-owned centers in 10 states.
"We are very pleased with our progress this year with the re-licensing of 13 neighborhood eye care centers,” said Srinivas Kumar, senior vice president and general manager, Pearle Vision. "It’s a testament to Pearle’s 50-year legacy that we’ve received tremendous interest from both new licensees who want to join our growing brand and existing licensees who want to expand with additional eye care centers.”
Of the 13 licensing agreements, Pearle Vision announced four new licensees in Akron, Ohio; Exton, Pa.; Council Bluffs, Iowa; and Burnsville, Minn. In addition, eight existing Pearle Vision licensees chose to expand their center ownership by licensing additional centers in Texas, New Jersey, Georgia, Florida, Ohio and Puerto Rico.
Dr. Richard E. Hults, who assumed ownership of a Pearle Vision eye care center in Akron, Ohio and has been a practicing optometrist for over three decades, said “I have always wanted to own my own business and am excited to join the Pearle Vision family. I am committed to continuing to provide patients in Akron with the absolute best in eye care and serving as a trusted source for all of their eye health needs.”
Pearle Vision has a significant legacy in the industry and has continued to outpace competitors by evolving to meet patients' changing needs and providing quality products and services they desire. With 611 centers located throughout North America, the company offers best-in-class eye care provided by neighborhood doctors who are skilled optometrists, a principle created by Dr. Stanley Pearle in 1961.
"Pearle Vision is a terrific opportunity for optometrists to join a proven network of support, which allows them to focus on what they are really passionate about – delivering quality eye care to their patients," said Kumar.
Pearle Vision is seeking to grow its national footprint and began the year with an aggressive re-licensing effort in the United States. To fuel further growth, the company is looking for optometrists interested in licensing opportunities. Ideal candidates for Pearle Vision ownership should possess a desire to join a trusted industry-leading brand and work within a proven system to provide exceptional eye care and superior patient service. Pearle Vision licensees can expect their initial investment to build a new center to cost approximately $200,000, in addition to a licensing fee of $30,000.
Optometrists interested in exploring re-licensing or new development opportunities should call 1.800.PEARLE.1 or visit www.pearlevisionfranchise.com.
About Pearle Vision
Pearle Vision was founded in 1961 by Dr. Stanley Pearle, who began the concept of one-stop, total eye care with the opening of the Pearle Vision Center in Savannah, Ga. Pearle combined complete eye exams with an extensive selection of eyewear. In 1981, Pearle Vision began offering licenses to select doctors and opticians. Today, with more than 610 eye care centers through the United States, Pearle Vision is built around a doctor-centered business model with a primary focus to deliver genuine eye care to patients and become a trusted source for all their eye health needs. Pearle Vision is owned by Luxottica, a leader in premium fashion, luxury and sports eyewear. For more information, visit http://www.PearleVision.com.
Luxottica Group S.p.A.
Luxottica Group is a leader in premium, luxury and sports eyewear with approximately 7,000 optical and sun retail stores in North America, Asia-Pacific, China, South Africa, Latin America and Europe, and a strong, well-balanced brand portfolio. House brands include Ray-Ban, the world’s most famous sun eyewear brand, Oakley, Vogue Eyewear, Persol, Oliver Peoples, Alain Mikli, Arnette and REVO, while licensed brands include Giorgio Armani, Bulgari, Burberry, Chanel, Coach, Dolce & Gabbana, Donna Karan, Polo Ralph Lauren, Prada, Starck Eyes, Tiffany and Versace. In addition to a global wholesale network involving 130 different countries, the Group manages leading retail chains in major markets, including LensCrafters, Pearle Vision and ILORI in North America, OPSM and Laubman & Pank in Asia-Pacific, LensCrafters in China, GMO in Latin America and Sunglass Hut worldwide. The Group's products are designed and manufactured at its six manufacturing plants in Italy, two wholly owned plants in the People’s Republic of China, one plant in Brazil and one plant in the United States devoted to the production of sports eyewear. In 2012, Luxottica Group posted net sales of more than €7.0 billion. Additional information on the Group is available at www.luxottica.com.
Safe Harbor Statement
Certain statements in this press release may constitute “forward looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Such statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those which are anticipated. Such risks and uncertainties include, but are not limited to, the ability to manage the effects of the current uncertain international economic outlook, the ability to successfully acquire and integrate new businesses, the ability to predict future economic conditions and changes to consumer preferences, the ability to successfully introduce and market new products, the ability to maintain an efficient distribution system, the ability to achieve and manage growth, the ability to negotiate and maintain favorable license agreements, the availability of correction alternatives to prescription eyeglasses, fluctuations in exchange rates, changes in local conditions, the ability to protect intellectual property, the ability to maintain relations with those hosting our stores, computer system problems, inventory-related risks, credit and insurance risks, changes to tax regimes as well as other political, economic and technological factors and other risks and uncertainties referred to in Luxottica Group’s filings with the U.S. Securities and Exchange Commission. These forward looking statements are made as of the date hereof and Luxottica Group does not assume any obligation to update them.
SOURCE: Pearle Vision
Fish Consulting, LLC
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