Eyewear purchase on the cards

 

The Australian arm of eyewear giant Luxottica Group has ramped up its aggressive assault on the market.

Luxottica Retail Australia, a subsidiary of Luxottica Group S.p.A, has moved to acquire the domestic operations of an optical business with over 60 stores nationally.

The Optifashion Group has annual sales of approximately $30 million with 49 company stores and 14 franchise sites under the names Just Spectacles, Eyedonist, Solstice, AV Simon and Oxford Eyes.

The transaction is still undergoing due diligence but is expected to be finalised in the fourth quarter of 2010. The move follows the launch of Luxottica’a OPSM Eye Hub store in Melbourne last month, a cutting-edge 1500-square-metre, split-level site developed in collaboration with international retail futurist Dr Ian Pearson.

In addition to its retail business, Luxottica produces licensed product for major luxury brands such as Prada, Versace and Bvlgari.