Welcome!

.NET Authors: Srinivasan Sundara Rajan, Adine Deford, David Fletcher, Pat Romanski, Suresh Sambandam

News Feed Item

Prescription Eyewear Limited Extends Clear Leadership Position in Growing European Online Optical Market With Acquisition of Nordic Leader LensOn

LONDON, December 12, 2012 /PRNewswire/ --

Prescription Eyewear Ltd, the parent company of myOptique.com, SunglassesShop.com and GlassesDirect.com, announced today that it has added LensOn, the leading Nordic online contact lens seller, to its growing portfolio of market-leading brands.

     (Photo: http://photos.prnewswire.com/prnh/20121212/582621 )

  • LensOn is the leading independent online contact lens seller in Northern Europe, operating local language sites across Sweden, Norway, Finland, Denmark, the Netherlands, Germany, France and the UK
  • The acquisition re-affirms the Prescription Eyewear group as the clear European leader in the growing online optical segment with a full offering covering all three major segments in the eyewear market (prescription glasses, sunglasses and contact lenses)
  • The deal will also expand PEL's already significant geographical footprint across Europe, with now more than 60% of sales coming from outside its home market in the UK
  • Total annual unique visitors to the group's websites in 2012 numbered approximately 8.2 million across 100+ countries and local sites in 12 different languages
  • The combined group will have generated nearly £30m ($45m, €36m) of Gross Retail Sales in 2012 and is profitable
  • Through November 2012 the group has served over 750,000 total customers, and currently ships over 2,000 pairs of glasses, sunglasses or contact lens orders a day, equating to a customer order shipped every 40 seconds
  • Total staff in the group now numbers nearly 140 in the UK and Sweden    

Founders Kim Persson and Johan Bergenheim will continue to manage the LensOn business and drive growth for the whole group in the Nordic region.  The European eyewear market is estimated at over €25bn of which currently only 3-4% is online.  As the optical market follows other high-growth ecommerce categories such as fashion and apparel towards online penetration rates closer to 10%, the Company has identified a €3-4 billion opportunity in the European online market over the next 3-5 years.  

Prescription Eyewear Limited's CEO Kevin Cornils comments, "We're extremely excited to be adding the LensOn team and business into our portfolio of brands including Glasses Direct, Sunglasses Shop and MyOptique.  LensOn has established itself as a strong player across the Nordic region and we look forward to working with them to grow their business not only into new European markets, but also to complement their current contact lens offering with prescription glasses and sunglasses.  The deal also solidifies PEL's position as the clear market leader in the fast-growing European online eyewear category and positions us well to take advantage of the significant shift we're seeing as consumers increasingly choose the internet for the choice, value and convenience that it offers."
 
Kim Persson, CEO of LensOn remarked, "PEL and its businesses will be a great partner for us as we look to continue our rapid growth across the Nordic markets and beyond.  Their expertise and leading position in selling glasses and sunglasses online will enable us to greatly accelerate our efforts in those markets and provide a full-service offering to our customers.  We also look forward to working with them to extend our business into the UK and continental European markets including Germany and France where the opportunity is significant."   

The LensOn acquisition caps a busy year for the PEL group that saw;

  • The recent launch of myOptique.com, the first-of-its-kind premier eyewear site, offering a carefully curated mix of premium glasses and sunglasses featuring the world's most sought-after brands for both men and women
  • The launch of Sunglasses Shop into the US and Australian markets, bringing its international sales to over 50% of revenue
  • The launch of Glasses Direct's latest internally designed and developed house brand, Scout, brings the total number of created brands to 3, including the popular London Retro (vintage-inspired) and Element (eco-friendly)
  • The addition of Dean Butler, founder of Vision Express (now part of the HAL group) and Lenscrafters (now part of Luxottica Retail) as a Non-Executive Director to its Board of Directors

The acquisition was financed by Prescription Eyewear's existing venture capital investors, Acton Capital Partners (Etsy, Zooplus, MyTheresa, Linas Matkasse), Highland Capital Partners (VistaPrint, Qihoo, Lulu Lemon, Starent, Quigo) and Index Ventures (Skype, mySQL, Net-A-Porter, ASOS, Etsy, LoveFilm, Last.fm).  Additional funding was received from GP BullHound Sidecar, Silicon Valley Bank and Kreos Capital.  The company was advised by GP Bullhound on financing and Wilmer Hale on legals.  


SOURCE Prescription Eyewear Limited (PEL)

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover how hardware commoditization, the ubiquitous nature of connectivity, and the emergence of Big Data a...
"BSQUARE is in the business of selling software solutions for smart connected devices. It's obvious that IoT has moved from being a technology to being a fundamental part of business, and in the last 18 months people have said let's figure out how to do it and let's put some focus on it, " explained Dave Wagstaff, VP & Chief Architect, at BSQUARE Corporation, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com), moderated by Ashar Baig, Research Director, Cloud, at Gigaom Research, Nate Gordon, Director of T...
SYS-CON Events announced today that IDenticard will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. IDenticard™ is the security division of Brady Corp (NYSE: BRC), a $1.5 billion manufacturer of identification products. We have small-company values with the strength and stability of a major corporation. IDenticard offers local sales, support and service to our customers across the United States and Canada. Our partner network encompasses some 300 of the world's leading systems integrators and security s...
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, phone and digital TV services to consumers primarily in rural areas.

ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ --  IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's platform-as-a-service. The new platform enables developers to build ap...

The BPM world is going through some evolution or changes where traditional business process management solutions really have nowhere to go in terms of development of the road map. In this demo at 15th Cloud Expo, Kyle Hansen, Director of Professional Services at AgilePoint, shows AgilePoint’s unique approach to dealing with this market circumstance by developing a rapid application composition or development framework.
“In the past year we've seen a lot of stabilization of WebRTC. You can now use it in production with a far greater degree of certainty. A lot of the real developments in the past year have been in things like the data channel, which will enable a whole new type of application," explained Peter Dunkley, Technical Director at Acision, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete at launch. DevOps may be disruptive, but it is essential.
"People are a lot more knowledgeable about APIs now. There are two types of people who work with APIs - IT people who want to use APIs for something internal and the product managers who want to do something outside APIs for people to connect to them," explained Roberto Medrano, Executive Vice President at SOA Software, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Nigeria has the largest economy in Africa, at more than US$500 billion, and ranks 23rd in the world. A recent re-evaluation of Nigeria's true economic size doubled the previous estimate, and brought it well ahead of South Africa, which is a member (unlike Nigeria) of the G20 club for political as well as economic reasons. Nigeria's economy can be said to be quite diverse from one point of view, but heavily dependent on oil and gas at the same time. Oil and natural gas account for about 15% of Nigera's overall economy, but traditionally represent more than 90% of the country's exports and as...
The Internet of Things is a misnomer. That implies that everything is on the Internet, and that simply should not be - especially for things that are blurring the line between medical devices that stimulate like a pacemaker and quantified self-sensors like a pedometer or pulse tracker. The mesh of things that we manage must be segmented into zones of trust for sensing data, transmitting data, receiving command and control administrative changes, and peer-to-peer mesh messaging. In his session at @ThingsExpo, Ryan Bagnulo, Solution Architect / Software Engineer at SOA Software, focused on desi...
"At our booth we are showing how to provide trust in the Internet of Things. Trust is where everything starts to become secure and trustworthy. Now with the scaling of the Internet of Things it becomes an interesting question – I've heard numbers from 200 billion devices next year up to a trillion in the next 10 to 15 years," explained Johannes Lintzen, Vice President of Sales at Utimaco, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
"For over 25 years we have been working with a lot of enterprise customers and we have seen how companies create applications. And now that we have moved to cloud computing, mobile, social and the Internet of Things, we see that the market needs a new way of creating applications," stated Jesse Shiah, CEO, President and Co-Founder of AgilePoint Inc., in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Gridstore™, the leader in hyper-converged infrastructure purpose-built to optimize Microsoft workloads, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Gridstore™ is the leader in hyper-converged infrastructure purpose-built for Microsoft workloads and designed to accelerate applications in virtualized environments. Gridstore’s hyper-converged infrastructure is the industry’s first all flash version of HyperConverged Appliances that include both compute and storag...
Today’s enterprise is being driven by disruptive competitive and human capital requirements to provide enterprise application access through not only desktops, but also mobile devices. To retrofit existing programs across all these devices using traditional programming methods is very costly and time consuming – often prohibitively so. In his session at @ThingsExpo, Jesse Shiah, CEO, President, and Co-Founder of AgilePoint Inc., discussed how you can create applications that run on all mobile devices as well as laptops and desktops using a visual drag-and-drop application – and eForms-buildi...
We certainly live in interesting technological times. And no more interesting than the current competing IoT standards for connectivity. Various standards bodies, approaches, and ecosystems are vying for mindshare and positioning for a competitive edge. It is clear that when the dust settles, we will have new protocols, evolved protocols, that will change the way we interact with devices and infrastructure. We will also have evolved web protocols, like HTTP/2, that will be changing the very core of our infrastructures. At the same time, we have old approaches made new again like micro-services...
Code Halos - aka "digital fingerprints" - are the key organizing principle to understand a) how dumb things become smart and b) how to monetize this dynamic. In his session at @ThingsExpo, Robert Brown, AVP, Center for the Future of Work at Cognizant Technology Solutions, outlined research, analysis and recommendations from his recently published book on this phenomena on the way leading edge organizations like GE and Disney are unlocking the Internet of Things opportunity and what steps your organization should be taking to position itself for the next platform of digital competition.
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
As the Internet of Things unfolds, mobile and wearable devices are blurring the line between physical and digital, integrating ever more closely with our interests, our routines, our daily lives. Contextual computing and smart, sensor-equipped spaces bring the potential to walk through a world that recognizes us and responds accordingly. We become continuous transmitters and receivers of data. In his session at @ThingsExpo, Andrew Bolwell, Director of Innovation for HP's Printing and Personal Systems Group, discussed how key attributes of mobile technology – touch input, sensors, social, and ...