Newsletter
Newsletter
Luxottica intensifies its focus on OPSM
Luxottica, a world leader in eye care and eyewear, has announced it aims to boost its investments in its OPSM brand – the Australia and New Zealand leading optical retail chain – in what the company describes as “a bold strategy that will significantly enhance Luxottica’s market-leading position in optical retail in the region, and provide a solid platform for future growth.”
Over the next 24 months, more than 50 stores will be added to the OPSM network, moving from 368 to 419 and, by the end of 2015, the OPSM retail footprint will expand to more than 470 stores in Australia and New Zealand. OPSM, one of Australia’s oldest and most trusted retail brands will also see an additional $5 million marketing spend invested in the brand and the store upgrade and refurbishment program will double to almost $40 million in the period.
In line with this plan, Luxottica intends to transition Budget Eyewear and Just Spectacles stores into OPSM stores, subject to working through commercial and legal processes. The group’s 100-year old Laubman & Pank brand will focus on growth in its traditional home markets – South Australia, West Australia and Queensland – where it has a long history, strong brand equity and loyal customers. In NSW and Victoria, Laubman & Pank stores will also be rebranded as OPSM. Some lower-performing stores will relocate or close.
Luxottica’s chief executive officer of Asia Pacific, Chris Beer, said: “OPSM finished the December quarter well, with comparable store sales for OPSM growing by more than 10%. This is a result of the changes implemented in OPSM during the past year and we are now confident to accelerate our investment in OPSM. Given the strong position of the business, we believe this is the right time to make the changes, which will strengthen the organisation even further.
“OPSM is the leader in optical retailing in Australia and New Zealand and our strategic objective is to continue to raise the standard of eye care in the region. In order to lift the bar, we are recalibrating our business with a more focused approach that will allow us to play to our strengths. This will ensure our market-leading OPSM brand is able to reach its full potential,” he said.
“Over the past few years, OPSM has been a world leader in driving innovation in eye care. We are leading the way with numerous initiatives, including the introduction of our award-winning superstore, OPSM eye hub, which has set a new standard in optometry care and personalised customer service. We’ve also launched mobile stores and intensified our investment in optometrist training. In addition, over the next 24 months, we have committed $20 million on leading edge eye disease detection equipment exclusive to OPSM in the Australian and New Zealand markets, ensuring OPSM customers continue to receive the most up-to-date eye care,” said Mr Beer.
“Luxottica is clearly differentiated in the optical market by offering world-class optometry services together with our renowned personal customer care in Australia and New Zealand, along with international designer fashion brands at a range of prices from luxury to budget,” Mr Beer said.
Luxottica Group is a global leader in premium, luxury and sports eyewear with more than 7,000 optical and sun retail stores in North America, Asia-Pacific, China, Latin America, South Africa and Europe.
House brands include Ray-Ban, the world’s most famous sun eyewear brand, Oakley, Vogue, Persol, Oliver Peoples, Arnette and REVO, while licensed brands include Bvlgari, Burberry, Chanel, Coach, Dolce & Gabbana, Donna Karan, Polo Ralph Lauren, Prada, 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, GMO in Latin America, LensCrafters in China 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 and one plant in the United States devoted to the production of sports eyewear. In 2011, Luxottica Group posted net sales of more than €6.2 billion.