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June 3, 2020June 3, 2020

Safilo Completes Acquisition of 70% Stake in Blenders Eyewear

Safilo Group announces the closing of the acquisition of the 70% stake in the equity of the California company Blenders Eyewear.

Blenders Eyewear has built an advanced e-commerce platform, with unique digital and social media skills, achieving fast and profitable growth. The Company generates approximately 95% of its current business through its proprietary direct-to-consumer e-commerce platform. More on the acquisition reported on Optik NOW HERE.

Blenders Eyewear closed 2019 with net sales of USD 40.7 million, up 38% compared to the previous year and with a 3-year CAGR of 174%.

Angelo Trocchia, Safilo’s Chief Executive Officer, said: “The closing of the Blenders acquisition represents a big leap forward for us on the 360° digital transformation strategy we presented in December last year and which we are now accelerating in all its three key components, from the launch of the latest technologies in the B2B and CRM fields to the strengthening of digital and social marketing capabilities, to the Direct to Consumer distribution.

We are working in difficult times, turning around our business in a challenging and fast-evolving marketplace and I am firmly convinced that a focused execution of our strategies will put our Company in a stronger position, better equipped to meet our challenges head-on and to be frontrunners in some of the new business opportunities that lie ahead.”

Chase Fisher, founder and CEO of Blenders Eyewear, commented: “We are super excited to have finalized our union with Safilo, ready to progress faster than ever on our growth and development projects.

We, at Blenders Eyewear, have seen and are experiencing this digital escalation. Our results were very solid in the first quarter of the year, with sales up more than 30%, and further accelerating in April and May. Together with Safilo, we aim to continue scaling up our digital capabilities, constantly improving the customer journey and experience, alongside pioneering new ways of engaging with ever more demanding consumers, building profitable traffic and conversion.”

The overall consideration for the 70% controlling interest in the Company is USD 63.9 million (corresponding to Euro 57.5 million).

Chase Fisher will retain full ownership of 30% of the equity interests and, pursuant to the contractual terms, these remaining equity interests are subject to customary reciprocal put and call options which can be exercised starting from 2023. Chase Fisher will remain CEO of Blenders Eyewear which will continue to run out of its San Diego home.

The acquisition has been entirely financed through the utilization of the Euro 60 million second tranche of the Euro 90 million subordinated loan provided by Safilo’s reference shareholder, Multibrands Italy B.V.

Click HERE for the full press release.

June 3, 2020June 3, 2020

Optometry Giving Sight New Executive Director

Optometry Giving Sight announces the appointment of Anne Marie Hand, MPH, as its new Executive Director, North America. Ms. Hand assumed the role on June 1^st. Optometry Giving Sight, which supports eye care projects in the developing world, has offices in Golden, Colorado, USA and Calgary, Alberta, Canada.

Ms. Hand brings a wealth of non-profit management experience to Optometry Giving Sight and comes to the organization from the Girl Scouts of Greater Los Angeles, where she has been in a leadership position since 2011. Prior to the Girl Scouts, she served as the Deputy Director, Southwest Region, of Childsight, a division of Helen Keller International. She holds a Masters in Public Health from California State University at Northridge, and a Bachelor degree from the University of California at Santa Cruz.

“I am honored to have been selected to lead Optometry Giving Sight. I look forward to being a part of the effort to bring the organization to the next level and continue to provide sight and hope where it is desperately needed” says Ms. Hand.

Juan Carlos Aragon OD, Chair of the USA Optometry Giving Sight board and President of CooperVision’s Specialty Lens Division says, “We are delighted to have Anne Marie taking on our staff leadership role. Her excellent background and expertise will bring a fresh perspective to our efforts in raising funds to provide eye care to those who are desperately in need.” Susan Cooper OD, Chair of the Optometry Giving Sight board in Canada, and Managing Director of the World Council of Optometry remarks, “Our Canadian donors are a loyal and generous group and we look forward to Anne Marie helping to expand our reach throughout the country to ultimately grow our fundraising success.”

Eric Anderson, who has served as the Interim Executive Director for the past year, will remain with Optometry Giving Sight as the lead fundraiser.

Click HERE for the full press release.

June 3, 2020June 3, 2020

ABB Optical Group Begins Distribution Services in Canada

ABB Optical Group (ABB) announced it has commenced distribution of contact lenses to Canadian eye care professionals (ECPs). Optik NOW had reported their Canadian expansion announcement in September 2019.

ABB brings best-in-class distribution services of the four major soft contact lens manufacturers to Canadian ECPs, offering them access to the largest consolidated inventory in Canada, with the ability to ship directly to patients’ homes. Single-source distribution, according to the company, allows ECPs to improve efficiencies in their practice, leading to improved patient care, satisfaction and retention.

“ECPs in Canada previously have not had the opportunity to benefit from contact lens consolidation and business management best practices with one distributor – a common model in the United States which provides efficiency, cost savings, and better, faster service for practices and patients,” said ABB’s Country Manager for Canada, Marc Tersigni. “Now, with ABB, Canadian ECPs have access, choice, value and service, all at their fingertips from one single source. We look forward to being a trusted distribution partner committed to the success of ECPs across Canada.”

To serve its Canadian customers, ABB has opened a distribution center in Delta, British Columbia, and will employ approximately 20 staff members, with plans for expansion and growth later in 2020. Tersigni also noted that expansion into Canada also benefits the Canadian economy, stating, “ABB is proud to be making a long-term economic investment in Canada and providing job opportunities to Canadians.”

ABB also offers other business solutions for the optical industry that could benefit Canadian eye care professionals in the future, such as lens fabrication, ophthalmic lens distribution, frames distribution, practice development strategies, a suite of business and technology solutions, and gas permeable contact lens manufacturing.

The company will be launching its Canadian B2C website in August.

Click HERE for the full press release.

June 1, 2020May 27, 2020

Misinformation Around Online Eyewear Purchases Highlights Need for Public Eye Health Education

With many optometrists’ offices still closed due to COVID-19, more Canadians may be considering purchasing glasses or contact lenses online. In a growing online economy and in the presence of provincial deregulation that allows consumers to order eyewear without a prescription, online purchasing will continue and likely increase.

That’s a concern for many optometrists, who worry that, by opting for online purchases, consumers may be missing out on preventative eye care—and putting their vision at risk.

A recent focus group study on Canadians’ knowledge of eye health conducted by researchers at the University of Waterloo provides insight into the minds of today’s eyewear consumers. It also uncovers an alarming gap in communication around the importance of preventative eye care.

Knowledge translation specialist Alisa Sivak conducted the research in collaboration with Drs. Elizabeth Irving and Marlee Spafford of the University’s School of Optometry & Vision Science. In an editorial in Ophthalmic and Physiological Optics, Sivak notes that the sense of alarm around the online purchasing of eyewear needs to shift to a focus on helping consumers make good decisions regardless of where they’re purchasing eyewear.

“People in the study expressed both interest and concern around purchasing eyewear online,” Sivak says. “Their responses also seemed to show a disconnect between purchasing eyewear and seeking regular eye care.”

That’s a problem, Sivak says, because it indicates that consumers don’t fully understand the importance of routine eye examinations.

The study, Sivak says, underscores the need to provide strong and consistent public education and guidance so that consumers can make informed decisions about their eye health. Online eyewear purchases must not translate into less frequent eye exams.

Reference

Sivak, A., Spafford, M., & Irving, E. (2020, April) Patient views about online purchasing of eyewear. Ophthalmic and Physiological Optics, 40. [Editorial]. Retrieved from https://doi.org/10.1111/opo.12689

From the University of Waterloo School of Optometry & Vision Science

Click HERE for the full press release.

June 1, 2020June 2, 2020

INVISION Partners with CRO Journal to Offer COPE CE

INVISION Magazine has partnered with CRO (Clinical & Refractive Optometry) Journal to provide US optometrists with a robust continuing education learning platform for delivery of COPE (Council on Optometric Practitioner Education) accredited courses. With the increased need for online CE programming,

USA-based optometrists will be able to sign up for CE packages or take individual courses at their own pace and schedule. This added flexibility is a key feature of online continuing education when traditional in-person learning environments are not available.

On June 1st, 2020 all CRO Journal COPE courses will be accessible to US ODs at www.invisionmag.com/CRO.

“There is increased demand from eye care professionals to fulfill their license requirements through online learning. CRO provides a leading multi-media CE course delivery, instant grading and COPE certificate generation platform. We look forward to working more closely with CRO and developing INVISIONs online learning capabilities for the benefit of both our readers and clients”, says Matthijs Braakman, Publisher of INVISION.

“INVISION is the perfect fit for CRO Journal to offer our CE platform to a broader international audience. We have developed our user-friendly interface and available coursework over the past 2 years in an effort to make sure ECPs are up to date on current issues facing their profession”, says David Pietrobon, Publisher of CRO Journal. “CROs expertise in the development of COPE accredited content for ECPs coupled with INVISIONs business management content are a natural compliment.”

INVISION is the premier business management publication and digital platform for US ECPs. INVISIONs print magazines and daily online newsletters provide retail insights, tips, ideas, and practical business knowledge to succeed in today’s marketplace.

The CRO Continuing Education Site is affiliated with the open access, peer-reviewed publication Clinical & Refractive Optometry Journal (CRO). CRO online CE site and CRO Journal are owned and operated by VuePoint IDS Inc.

Click Here to view the INVISION Press Release.