|
 Luxottica has announced it would boost its investments in its OPSM brand – the Australia and New Zealand leading optical retail chain – in a bold strategy that will significantly enhance Luxottica's market-leading position in optical retail in the region, and provide a solid platform for future growth.
Over the next 24 months, more than 50 stores will be added to the OPSM network, moving from 368 to 419 and, by the end of 2015, the OPSM retail footprint will expand to more than 470 stores in Australia and New Zealand. OPSM, one of Australia’s oldest and most trusted retail brands, will also see an additional $5 million marketing spend invested in the brand and the store upgrade and refurbishment capex program will double to almost $40 million in the period.
In line with this plan, Luxottica intends to transition Budget Eyewear and Just Spectacles stores into OPSM stores, subject to working through commercial and legal processes. The group's 100-yearold Laubman & Pank brand will focus on growth in its traditional home markets – South Australia, West Australia and Queensland – where it has a long history, strong brand equity and loyal customers. In NSW and Victoria, Laubman & Pank stores will also be rebranded as OPSM. Some lower-performing stores will relocate or close.
Luxottica's Chief Executive Officer of Asia Pacific, Chris Beer, said: "OPSM finished the December quarter well, with comparable store sales for OPSM growing by more than 10%. This is a result of the changes implemented in OPSM during the past year and we are now confident to accelerate our investment in OPSM. Given the strong position of the business, we believe this is the right time to make the changes, which will strengthen the organisation even further.
"OPSM is the leader in optical retailing in Australia and New Zealand and our strategic objective is to continue to raise the standard of eye care in the region. In order to lift the bar, we are recalibrating our business with a more focused approach that will allow us to play to our strengths. This will ensure our market-leading OPSM brand is able to reach its full potential," he said. "Over the past few years, OPSM has been a world leader in driving innovation in eye care. We are leading the way with numerous initiatives, including the introduction of our award-winning superstore, OPSM eye hub, which has set a new standard in optometry care and personalised customer service. We've also launched mobile stores and intensified our investment in optometrist training. In addition, over the next 24 months, we have committed $20 million on leading edge eye disease detection equipment exclusive to OPSM in the Australian and New Zealand markets, ensuring OPSM customers continue to receive the most up-to-date eye care," said Mr Beer."Luxottica is clearly differentiated in the optical market by offering world-class optometry services together with our renowned personal customer care in Australia and New Zealand, along with international designer fashion brands at a range of prices from luxury to budget," Mr Beer said.
|
