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Major Online Seller of Contact Lenses Acquired

Its brands include OptiContacts.com and ContactsExpress.ca.

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VANCOUVER — Hardy Capital, a Canadian investment firm, has acquired LD Vision Group, whose brands include OptiContacts.com and ContactsExpress.ca.

Financial terms of the deal were not disclosed.

LD Vision Group’s brands have delivered 2.7 million orders to more than 1.1 million customers. In 2018, the company generated approximately $50 million in revenue.

Arshil Abdulla, founder and CEO of LD Vision Group, said, “We are excited to take this next step in the company’s journey. We believe the optical market is preparing for a shift that will reshape the industry and partnering with the Hardy Capital team prepares us for this large and growing secular opportunity.”

Roger Hardy, CEO of Hardy Capital, previously founded the pioneering brand in omnichannel eyecare, Coastal.com. Coastal.com, owner of Clearly.ca and Lensway.se, grew to over $1 billion in aggregate eyewear sales across 120 countries and was listed on the NASDAQ before being acquired by Essilor in 2014 for $450 million.

“More than 70 per cent of North American adults have corrective vision needs, yet the eyecare industry continues to be plagued by high costs, low convenience, and inconsistent customer service,” said Hardy.

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“Arshil Abdulla, [co-founder and CMO] Fayaz Abdulla, and [COO] Sean Mitha are leaders in North America in technology, automation, and customer service in the category. We’re thrilled to be partnering with them to build a new platform for customers.”

Hardy Capital stated that it expects to announce broader expansion plans into the eyecare industry in coming months.

The purchase of LD Vision Group marks the second investment in the eyecare category by the Hardy Capital team. In 2018, the team made a seed-stage investment in Privé Revaux.

Since launching in 2014, INVISION has won 23 international journalism awards for its publication and website. Contact INVISION's editors at editor@invisionmag.com.

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Eyecare Pros Rate Their Happiness with Work … and Life

Results of the 2019 Big Survey are in. Here’s a sample.

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IN INVISION’S FIRST annual Big Survey, we asked ECPs their overall satisfaction with their professional lives … as well as their overall satisfaction with life.

The good news? As a group, ECPs are happy with their careers, reporting an average of 7.9 on a scale from 1 to 10 (1 being “extremely dissatisfied” and 10 being “totally satisfied”). The better news? You’re happier with your life as whole. The average response there was 8.2 on a scale from 1 to 10.

The happiest among you in both areas? Owners of eyewear boutiques without an affiliated OD.

The 2019 Big Survey was conducted from August to October and attracted responses from more than 500 American ECPs. Look out for all the full results in the November/December issue of INVISION.

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Everything Is Bigger in the South, Including Eyecare Practices

Results of the 2019 Big Survey are in. Here’s a sample.

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SEEMS THAT EVERYTHING is bigger in the South, according to INVISION’s Big Survey. The Northeast is home to a disproportionate number of smaller vision businesses, while bigger practices are most common in the South. Thirty-one percent of the small stores/practices in our survey — those with less than 1,500 square feet — were in the Northeast, while 41 percent of the big ones — those over 3,000 square feet — were in the South. These large operations were mostly either private practices with a focus on retail or medical model private practices with a small dispensary.

How big is your (main) location?

Less than 500 sq. ft
4%
500-999 sq. ft.
10%
1,000-1,499 sq. ft.
24%
1,500-1,999 sq. ft.
17%
2000-2499 sq. ft.
15%
2500-2999 sq. ft.
11%
3000-3,999 sq. ft.
8%
4,000-5000 sq. .ft.
6%
More than 5000 sq. ft.
5%

The 2019 Big Survey was conducted from August to October and attracted responses from more than 500 American ECPs. Look out for all the full results in the November/December issue of INVISION.

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Which State Has the Hardest-Working ECPs? And Which State Has the Weirdest? INVISION’s Big Survey Tells All!

Results of the 2019 Big Survey are in. Here’s a sample.

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INVISION’S FIRST ANNUAL Big Survey found out a lot of interesting information about the American ECP… even our Canadian friends to the north weighed in. We started with the basics, and they did not disappoint! Want to know which state has the most female owners, or which one has the weirdest ECPs? Here are few quick takes from the 2019 survey:

Californian ECPs were the least likely to own their places of business, with 82 percent renting.

Kansans were most likely to be open on Sunday with one in four stores and practices open on this traditional “rest” day.

They don’t take kindly to strangers asking questions in South Dakota. South Dakota, Louisiana and New Mexico were the only states not represented in our survey.

Michigan ECPs are some of the hardest working in the industry: 25 percent work more than 50 hours a week.

Florida had the most male owners and managers in our survey at 76 percent. Washington state had the most female owners at 86 percent.

Connecticut was tops for self-declared weirdness with ECPs there giving themselves an average score of 8.2 out of 10 on our weirdness scale.

The 2019 Big Survey was conducted from August to October and attracted responses from more than 500 American ECPs. Look out for all the full results in the November/December issue of INVISION.

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