Local Optician Expands Business with Third Pearle Vision Location

- Malik Dosani Continues to Serve Community in Atlanta, Georgia -

Oct 17, 2013, 13:28 ET from Pearle Vision

MASON, Ohio, Oct. 17, 2013 /PRNewswire/ -- Pearle Vision, one of North America's largest and most trusted licensed optical brands, announced it has signed an agreement with Malik Dosani to assume ownership of a corporate-owned location in Atlanta, Ga. Malik Dosani, along with his brothers Fareed and Fayaz Dosani, now own and operate the Pearle Vision neighborhood eye care center at 3425 Lenox Road in Atlanta.

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

"We are excited to be expanding to our third Pearle Vision location in Georgia," said Malik Dosani, Pearle Vision licensee. "Given our long family history in the optical business, we are committed to offering the residents of Atlanta a trusted source for all their eye care needs."

Veterans of the industry, the Dosani family's optical roots date back to their days growing up in India. Malik came to America in 1996, and began working with Pearle Vision in 2002. After working with the brand for a number of years, he purchased his first center in Buford, Ga. in 2006. Shortly after, in 2011, he and his brothers built another center from the ground up in Snellville, Ga. The Dosanis look forward to continuing to grow with Pearle Vision and have plans for additional locations across the United States and Canada.

"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 a continued relationship with the Dosani brothers as they expand their business across Georgia; we know that they will deliver first-class eye care to patients throughout the Atlanta area."

Earlier this year, Pearle Vision unveiled a new brand image and updated store design for its centers. The company's first completely remodeled center opened in Cleveland, Ohio this month and features everything from a new, iconic brand logo and signage to modernized displays and a completely transformed floor plan. This is all part of Pearle Vision's 2013 expansion and growth plans, which include the re-licensing of 34 company-owned centers in 10 states. To date, the company has successfully converted 18 of these centers to new and existing licensees.

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. In addition to new territories available for development, there are corporate-owned locations in the Atlanta perimeter area and Morrow, Ga.; other markets are also 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 to pay an initial licensing fee of $30,000 and $20,000 for each subsequent eye care center.

Optometrists interested in exploring re-licensing or new development opportunities should call 1.800.PEARLE.1 or visit www.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 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.

Amanda DelPrete 

Emily Ryan 

SOURCE Pearle Vision