The women’s online eyewear retailer, Rivet & Sway, has announced that it is shutting down.

 

It often looks as if selling eyewear products online is a piece of cake, given the success of certain groups such as Coastal.com. Rivet & Sway’s experience presents quite a different image.

 

Founded in 2011, Rivet & Sway set out to be an online shopping boutique focused on high-end women’s prescription brand glasses. Frames were priced between $170 and $200, including lenses. The company was named one of Internet Retailer’s “Hot 100 E-Retailers of 2013.”

 

Yet, the company was quickly confronted with the limitations of its business model. The service allowing women to try on frames at home, for example, was very expensive. It cost a lot to ship frames back and forth, only to have them left unsold in the end. The company tried to diversify through bricks and mortar retailing and a Specs on Wheels “tricycle” to display its merchandise in beauty salons.

 

Unfortunately, these efforts did not convince investors to give additional capital. “The company was growing and reducing costs…just not enough to satisfy investor demands,” explained founder John Lusk.

Sources:

http://www.geekwire.com/2014/inside-story-rivet-sway-online-retailer-closed-doors/

http://www.visionmonday.com/latest-news/article/womens-online-eyewear-retailer-rivet–sway-shuts-down-1/ 

Eye doctors meet to discuss collaborative eye care in Alberta and Canada with Alberta Minister of Health.

 

Representatives from the Eye Physicians and Surgeons Association of Alberta (EPSAA) and the Canadian Ophthalmological Society (COS) met with Minister Horne and his officials on June 9, 2014 to discuss the importance of inter-professional collaboration for eye health care for Albertans and all Canadians. Recently, medical organizations including COS, EPSAA, the Alberta Medical Association, the College of Physicians of Alberta and the Royal College of Physicians and Surgeons of Canada expressed concern regarding the level of consultation with the medical profession before an expansion of the scope of practice for Alberta optometrists was announced by the Minister on April 29, 2014.

 

To read more:

http://www.newswire.ca/en/story/1370947/eye-doctors-meet-to-discuss-collaborative-eye-care-with-alberta-minister-of-health-fred-horne

 

An innovation from researchers at the University of Michigan might help in the development of night vision contact lenses.

 

Thermal vision illuminates the heat being emitted by animals, humans, and certain objects. Researchers used graphene to develop a miniature infrared detector that operates at room temperature.

 

Graphene is sensitive to the whole infrared spectrum, in addition to visible and ultraviolet light. However, it only absorbs about 2.3 per cent of the light that hits it, making it unable to send an electric signal, and therefore not viable as a detector.

 

The researchers overcame this obstacle by adopting a new approach. Rather than directly measuring the electrons that are freed when light hits the graphene, they amplified the signal by looking instead at how the light-induced electrical charges in the graphene affect a nearby current.

 

The device consisted of two graphene sheets separated by an insulating barrier. The bottom layer had a current running through it. When light hit the top layer, it freed electrons into the bottom layer. This changed the electrical charge. By measuring the change in current, the team could deduce the brightness of the light hitting the top layer and amplify the signal.

 

One can already imagine the countless military or scientific applications of this discovery.

Source:

http://www.ns.umich.edu/new/releases/22042-new-tech-could-lead-to-night-vision-contact-lenses

 

The Quebec-based eyewear distributor, Lanctôt, will soon be serving its customers out of its newly-acquired building located at 5290 Thimens Boulevard, in Ville Saint-Laurent, Montreal’s northwest borough.

 

The new location will officially open its doors June 16, 2014. It has more space for Lanctôt to optimize its storage and delivery services from a single modern warehouse. Plus, employees will have a sports and relaxation facility at their disposal with easier access.

 

Lanctôt, which has been in business for 60 years, has over 5,000 customers and partners in Canada. In addition to optical products, the company distributes sporting goods and outdoor clothing. In the eyewear industry, it distributes the following brands: Morel, Koali, LST Lightec, Öga, Nomad, OWP, Julbo, Mexx, Joop! and Rebel.

 

Moreover, the company has been selected by Deloitte as one of the 50 best managed companies in Canada for the 21^st year.

Source: Lanctôt

 

Blue Point Capital Partners, a private equity firm, announced that it has acquired The Hilsinger Company (Hilco). No details have been disclosed.

 

Founded in 1956, Hilco supplies more than 20,000 products in a broad range of categories, including prescription protective eyewear, optical accessories and ophthalmic products. With more than 25,000 customers worldwide, the company has five primary brands: Hilco, Wilson Ophthalmic, Leader, OnGuard Safety and i-Promotions.

 

“This is our fourth private equity owner,” said Bob Nahmias, CEO of Hilco, in a press release. “There will be no changes at Hilco. Blue Point’s access to exceptional resources, including its presence in China, will be invaluable to Hilsinger as we look to expand into other markets and broaden our eyewear and eye care product offerings,” he added.

 

John LeMay, a partner with Blue Point, who manages over $800 million in committed capital, is pleased with the addition. “Hilsinger’s market leadership and history of successful acquisitions create a strong platform for future growth,” he said. “We plan to support the company in executing additional domestic and international acquisitions and optimizing its sourcing capabilities with our Shanghai-based supply-chain team.”

Source:

http://www.bluepointcapital.com/newsroom/article.aspx?id=30