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Both USA and Canadian Retail Markets Consolidate

The Top 7 retailers with the largest US footprint, defied by the number of
store locations, grew nearly 5% in revenue in 2017, while the number of
store locations remained flt (down 0.1%).

Optik compared each country’s largest retailers and found that the level of store concentration in Canada has drawn closer to that of the USA due to the aggressive acquisitions by New Look Vision Group and FYidoctors in particular.

While Private Equity investment has been a significant driver in US market consolidation, the same phenomenon has not impacted the Canadian market so far. In Canada, direct foreign investment from France, UK and Hong Kong, has spawned new foreign entrants including Optical Center, Ollie Quinn and Mujosh, while new entrants from the USA, including Oliver Peoples (Luxottica),
Warby Parker and Illesteva are pursuing the upscale fashion-forward opportunity in major Canadian urban markets.

Mass Merchants
Walmart and Costco alone account for 25% of the Top 7 sales and 32% of the dispensing doors. In Canada they collectively account for less than 25% of dispensing doors. While no grocery retailers made the USA Top 50 list, Canadian grocery giant Loblaw ranks fourth in national footprint.

The Top Canadian Retailer Report is coming soon! Optik plans a comprehensive Top Canadian Retailer Report later in 2018, including dispensing doors and revenue. Retailers are invited to download the survey and self-report sales in order to contribute to the Optik Top Canadian Retailer Report.

References/Références :
1 Vision Monday Top 50 Report May 2018
2 US doors are based upon Vision Monday Top 50 report. Total USA dispensing door estimates Jobson Medical Information LLC
3 Canadian estimates by VuePoint IDS Inc based upon publicly available data as of March 2018
4 New Look Vision Group Annual Report 2017
5 May not include all listed retail brands
6 Self-reported by group

In Memoriam: Dr. John Morgan

 

Dr. John (“Jack”) Morgan passed away on July 12th in Kingston, Ontario at the age of 86. He was on the faculty at Queen’s University, Department of Medicine and Chief of Ophthalmology at Hotel Dieu Hospital in Kingston. Optik asked industry veteran and colleague, Silvano (Syl) Ghirardi, retired Industry executive and optician, to reflect upon Jack’s impact on the industry. Below is his tribute.


By Silvano (Syl) Ghirardi

Along the way there have been people that have influenced the global ophthalmic industry, specifically, the contact lens industry. Many have been Canadians and I have been fortunate to know most of them over the years. One of the most influential ophthalmologists has been Dr. John (Jack) Morgan, who I was fortunate to meet and know under some interesting circumstances.

I met Dr. Morgan in 1978 when I was appointed Head of Professional Services for Bausch and Lomb Soflens division. In the early days of contact lenses, there were only a handful of opticians in Ontario that were legally allowed to fit contact lenses and the certification allowing contact lens fitting by an optician was under the authority of ophthalmologists. This meant that the selection, training and certification were by the authority of the Contact Lens Association of Ophthalmologists. As I was an Optician and employed by Bausch & Lomb, I was not allowed to fit contact lenses and would not be eligible for certification. This presented a problem as I was training ODs and MDs in fitting contact lenses. When Dr. Morgan heard of this he personally wrote a letter to the Contact Lens Association of Ophthalmologists and requested that I be allowed to take the certification and that he would personally train me to meet the curriculum. So, I spent time, over 2 summers at Hotel Dieu hospital in Dr. Morgan’s clinic. My first 15 minutes when arriving at the hospital, I was directed, basically, “get in there” to assist the Resident in the OR as there were plenty of penitentiary patients that Monday morning that had “fallen in the shower” and caused trauma to their eyes.

He was a tough teacher and you had to know your stuff or he would make you repeat. The residents appreciated him as he gave them more exposure and opportunity than would be normal. Under the guidance of Dr. Morgan, I was prepared and received my certification.

For eight years we attended the Contact Lens Association on Ophthalmologist training sessions in Las Vegas where we helped train the MD residents in contact lens fitting. In the early days of contact lenses, it was the industry that was providing the new technology training and Dr. Morgan was at the forefront of helping residents.

Most people do not realize that Dr. Morgan was the person who named the Boston RGP lens. When Dr. Perry Rosenthal, a Canadian who had served in the Canadian armed forces with Dr. Morgan, formulated the gas permeable contact lens, he asked Dr. Morgan to conduct clinical trials in Canada ahead of the US FDA trials. Dr. Morgan informed Dr. Rosenthal that this new material was performing well and that he should market the product. Dr. Morgan mentioned that the material should be called the Boston Lens as that was the name that it was know by in the trials.

Dr. Morgan coined the “Morgan dots” when he found that sub epithelial white dots were evident as an adverse response in contact lens patients’ corneas, a symptom of long-time contact lens wearing.

We had a great relationship, and I learned to appreciate his love of salmon fishing, which we did together numerous times, and the outdoors. He was a pioneer in contact lenses and a “tough old bird,” but had a big heart. He will be missed.

 

Vuarnet Opens First US Store

Vuarnet announced the opening of their first flagship store in the United States. The 1,000 square foot space in New York’s Nolita opened its doors July 14, timed to coincide with Bastille Day.

The new boutique will “offer an immersive brand experience and will feature the full range of Vuarnet sunglasses as well as new categories to the US market to include accessories and seasonal apparel such as beachwear and ski apparel.”

“The opening of our flagship store in NY is a major step for Vuarnet and we are very positive about what the future holds for our brand in the US market as a whole» said Lionel Giraud, CEO of Vuarnet. «We selected Bastille Day, French National Day, for the opening as it is always a day of great celebration in France and we wanted to share that passion and enthusiasm stateside.”

First SILMO Bangkok Records 3,750 Trade Visitors from 42 Countries

The first edition of SILMO Bangkok 2018 reflected its success as the gateway to ASEAN’s optical industry. More than 3,750 national and international trade visitors from 42 countries gathered, to explore this new chapter in ASEAN’s optical industry.

Mr. Loy Joon How, General Manager, IMPACT Exhibition Management Co., said, “The theme, ‘Business Meets Fashion’, was reflected through the showcases of the latest trends and eyewear collections from over 250 brands worldwide.”

The Thailand International Optometry Conference 2018, organized by the Association of Thai Optometrists attracted over 550 optometrists and opticians over the two-day accredited program.

The second edition of SILMO Bangkok will be held on 19-21 June 2019, at IMPACT Exhibition and Convention Center.

Click HERE for the full press release.

 

Vista Outdoor Announces Sale of Bollé, Cébé and Serengeti Brands

Vista Outdoor Inc. announced Monday, July 9, that it has entered into a definitive agreement to sell the legal entities operating its Bollé, Cébé and Serengeti brands to an entity controlled by a significant European private equity fund.

The sale is part of Vista Outdoor’s previously announced strategic business transformation plan, designed to allow the company to focus resources on pursuing growth in its core product categories of ammunition, hunting and shooting accessories, hydration bottles and packs, and outdoor cooking products.

“We are pleased to have successfully reached an agreement to sell our eyewear and safety business at an attractive price,” said Chris Metz, Chief Executive Officer of Vista Outdoor. “The business will have the opportunity to reach its full potential under new ownership. This divestiture is the first step in our transformation plan and will be the first of several potential asset sales that will significantly reduce Vista Outdoor’s leverage and provide additional resources to for us to reinvest in our core businesses.”

Read the complete press release for more information.

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