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Monday / June 24.
HomeminewsLuxottica US Expands Franchises

Luxottica US Expands Franchises

Luxottica in the United States will decrease the number of corporate owned practices operating under its Pearle Vision brand and instead re-licence them as franchises. There are currently 266 corporate and 356 franchised Pearle Vision practices in the United States.[/vc_column_text][/vc_column]

Following the move to re-license there will be 390 franchises and just 232 remaining corporate owned practices. The locations to be converted from corporate to franchise are in Florida, Ohio and Michigan.

“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. “Currently, we are seeking dedicated optometrists to join our growing network of licensed operators and purchase company-owned centres with thriving operations and an existing patient base.”

The company stated that Pearle Vision licensees can expect their initial investment to range from approximately USD$282,200 to USD$573,000, including a USD$30,000 licensing fee. In 2011, Pearle Vision’s licensed centres averaged annual retail sales of USD$742,000, with 25 per cent averaging retail sales of USD$900,000, according to the company.