Pearle Vision Announces New Owners Of Four Texas Eye Care Centers -- Current Licensees in Plano, Irving and Cedar Park Expand Their Businesses, New Licensee in Georgetown Joins Pearle Vision Family --

MASON, Ohio, Aug. 6, 2013 /PRNewswire/ -- Pearle Vision, one of North America's largest and most trusted licensed optical brands, announced today that it has signed four licensing agreements with three current operators and one new licensee to assume ownership of four corporate locations in Texas.

(Logo: http://photos.prnewswire.com/prnh/20130709/NY43871LOGO)

The first signing is with Dr. Mark Sturm, an optometrist who joins Pearle Vision this month with his first center in Georgetown, Texas. Additionally, current licensees adding locations include, husband and wife team Alex and Milana Gutman of Plano, Texas opening their second center; Richard Franklin and Barry Forrest signing for their second location in Cedar Park, Texas; and Bo Kinkov assuming ownership of his second Pearle Vision location in Irving, Texas.

"After several years of working as an optometrist around Austin, I saw great potential in the Georgetown Pearle Vision center," said Dr. Mark Sturm, a new Pearle Vision licensee who moved from Iowa to Austin, Texas upon completing optometry school and has been practicing in the area for a few years. "I had always wanted to own my own business, and Pearle Vision proved to be the perfect choice for me; I am committed to providing the Georgetown community with the best in eye care."

Residents of Plano for the past 15 years, Alex and Milana Gutman opened their first Pearle Vision location in the community in 2012. Their second location, located at 601 W. Plano Parkway, was purchased recently and is open and serving the community. The Gutman's have future plans to continue growing with the brand across Texas.

"My wife and I are thrilled to be expanding to our second Pearle Vision location and will continue to ensure that the local community in Plano benefits from the brand's extensive optical and retail experience," said Alex Gutman, Pearle Vision licensee.

Richard Franklin and Barry Forrest recently took ownership of their second corporate location at 11066 Pecan Park Blvd in Cedar Park, Texas. Franklin, a former corporate store manager with Pearle Vision, is excited to expand their business and continue to serve patients in Cedar Park.

"For more than 50 years, Pearle Vision has been committed to providing genuine eye care to patients through our doctor-centric business model," said Srinivas Kumar, senior vice president and general manager, Pearle Vision. "We look forward to additional expansion with these licensee partners, and are confident that they will bring excellence in eye health throughout Texas."

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 more than 610 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.

Pearle Vision is now seeking to grow its national footprint and has identified development opportunities in markets from coast-to-coast, including Colorado, New Mexico and Missouri. In addition to new territories available for development, corporate-owned locations in markets such as Michigan, Ohio and Florida also are available and have thriving operations with strong customer-bases.

To fuel its 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 www.pearlevisionfranchise.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 more than 610 eye care centers located 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.

MEDIA CONTACTS:
Amanda DelPrete
954-893-9150
adelprete@fish-consulting.com

Emily Ryan
513-765-3358
eryan@luxotticaretail.com

SOURCE Pearle Vision



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