MASON, Ohio, March 14, 2014 /PRNewswire/ -- Pearle Vision, one of North America's largest and most trusted licensed optical brands, has signed a licensing agreement with Jeanny Liu-Wu to take over operations at the Pearle Vision location at 3001 White Bear Ave., N., Suite 1050, St. Paul, Minn. The eye care center was formerly a corporate-owned location, which has served customers since 1990.
A veteran of the business, Wu has been a Pearle Vision optometrist at this St. Paul location since 1991. After more than two decades of providing eye care for patients, Wu made a decision to purchase the license to the location at the end of 2013. Wu is active in the St. Paul community and looks forward to continued growth with the Pearle Vision brand as she has plans to open additional locations over the next several years.
"Pearle Vision is a leader in the optical field and a brand that consumers trust. It signifies excellence in eye care and eyewear," said Wu. "I am thrilled to be a Pearle Vision owner and look forward to many years of serving the residents of St. Paul and providing them with the best possible eye care."
Pearle Vision has a significant legacy in the industry and has continued to outpace competitors by evolving to meet patients' changing needs and providing quality products and services they desire. With 600 centers located throughout North America, the company offers best-in-class eye care provided by neighborhood doctors who are skilled optometrists, a principle created by Dr. Stanley Pearle in 1961. Most recently, Pearle Vision ranked #112 in Entrepreneur's 2014 Franchise 500, making a 48-point increase from the 2013 ranking.
"We are excited that Jeanny is continuing her legacy with the St. Paul Pearle Vision location, and we know that her patients will support her in this new endeavor," said Tammy Reaves, vice president of licensing and development at Pearle Vision. "Pearle Vision is poised for growth this year and has aggressive plans to convert corporate-owned neighborhood eye care centers to licensees, and we are seeking optometrists and eye care professionals who have a desire to serve their communities to join our growing network of licensed operators."
Pearle Vision is now seeking to grow its national footprint and has identified development opportunities in markets from coast-to-coast. In addition to new territories available for development, corporate-owned locations in markets such as Illinois, Pennsylvania, New Jersey, New York, Michigan, Florida and Washington also are available and have thriving operations with strong customer-bases.
To fuel further growth, the company is looking for optometrists interested in licensing opportunities. Ideal candidates for Pearle Vision ownership should possess a desire to join a trusted industry-leading brand and work within a proven system to provide exceptional eye care and superior patient service. Pearle Vision licensees can expect their initial investment to build a new center to cost approximately $200,000, in addition to a licensing fee of $30,000.
Optometrists interested in exploring re-licensing or new development opportunities should call 1.800.PEARLE.1 or visit http://licensing.ownapearlevision.com.
About Pearle Vision
Pearle Vision was founded in 1961 by Dr. Stanley Pearle, who began the concept of one-stop, total eye care with the opening of the Pearle Vision Center in Savannah, Ga. Pearle combined complete eye exams with an extensive selection of eyewear. In 1981, Pearle Vision began offering licenses to select doctors and opticians. Today, with 600 eye care centers throughout the United States, Pearle Vision is built around a doctor-centered business model with a primary focus to deliver genuine eye care to patients and become a trusted source for all their eye health needs. Pearle Vision is owned by Luxottica, a leader in premium fashion, luxury and sports eyewear. For more information, visit http://www.PearleVision.com.
Luxottica Group S.p.A.
Luxottica Group is a leader in premium, luxury and sports eyewear with approximately 7,000 optical and sun retail stores in North America, Asia-Pacific, China, South Africa, Latin America and Europe, and a strong, well-balanced brand portfolio. House brands include Ray-Ban, the world's most famous sun eyewear brand, Oakley, Vogue Eyewear, Persol, Oliver Peoples, Alain Mikli, Arnette and REVO, while licensed brands include Giorgio Armani, Bulgari, Burberry, Chanel, Coach, Dolce & Gabbana, Donna Karan, Polo Ralph Lauren, Prada, Starck Eyes, 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, LensCrafters in China, GMO in Latin America 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, one plant in Brazil and one plant in the United States devoted to the production of sports eyewear. In 2012, Luxottica Group posted net sales of more than €7.0 billion. Additional information on the Group is available at www.luxottica.com.
Safe Harbor Statement
Certain statements in this press release may constitute "forward looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Such statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those which are anticipated. Such risks and uncertainties include, but are not limited to, the ability to manage the effects of the current uncertain international economic outlook, the ability to successfully acquire and integrate new businesses, the ability to predict future economic conditions and changes to consumer preferences, the ability to successfully introduce and market new products, the ability to maintain an efficient distribution system, the ability to achieve and manage growth, the ability to negotiate and maintain favorable license agreements, the availability of correction alternatives to prescription eyeglasses, fluctuations in exchange rates, changes in local conditions, the ability to protect intellectual property, the ability to maintain relations with those hosting our stores, computer system problems, inventory-related risks, credit and insurance risks, changes to tax regimes as well as other political, economic and technological factors and other risks and uncertainties referred to in Luxottica Group's filings with the U.S. Securities and Exchange Commission. These forward looking statements are made as of the date hereof and Luxottica Group does not assume any obligation to update them.
SOURCE Pearle Vision