Connect with us

Headlines

VSP to Open 3 Brick-and-Mortar Stores

The company will also launch a ‘doctor-centric alternative to private equity.’

mm

Published

on

RANCHO CORDOVA, CA – VSP Global announced that it plans to open three brick-and-mortar Eyeconic locations and launch of VSP Ventures, a business unit designed to offer “a care-focused choice for doctors looking to transition their practices.”

“Benefits managers are demanding more substantial retail options and doctors have been asking VSP to create a doctor-centric alternative to private equity. It’s critical for VSP to ensure this evolving landscape serves both our members and VSP network doctors in mutually beneficial ways,” said Michael Guyette, president and CEO of VSP Global. “A well-defined network strategy, which includes retail, allows us to provide a variety of options for doctors at every career stage and in every kind of practice setting — from privately owned, to dispensary-managed, to VSP-owned and operated.”

VSP Ventures “will facilitate practice transitions for doctors looking to retire or evolve to a different model,” according to a press release. The company said additional details will be announced soon.

The three Eyeconic stores will open in the Chicago market throughout 2019. The stores will be an extension of VSP’s ecommerce site, eyeconic.com.

“In collaboration with our innovation lab, The Shop, we’ve identified a unique, uncommitted customer who seeks a differentiated eye care and eyewear-buying experience,” said Bill Vaughan, president of VSP Retail. “In partnership with a Doctor of Optometry, Eyeconic is well-positioned to meet changing customer requirements by creating a digital and physical brand environment based on personalization, choice, and well-being.”

Each store will be wholly owned and operated by VSP with a sublease model for VSP network doctors.

Advertisement

Market selection was “strategically focused on regions that have shown high numbers of out-of-network claims at optical chains and mass retailers,” according to the release.

“Our goal is to create more opportunities for doctors,” said Guyette. “Without a strategic retail footprint, we risk closing the door on key clients, as well as the 20 percent of consumers who are choosing retail and even online-based eyewear stores over private practice. This is about smart growth that allows VSP to win more contracts and, in turn, more patients to drive into Premier Program practices.”

Details and exact locations of the Eyeconic concept stores will be announced in the coming months, the company stated.

“As a doctor-governed organization, VSP is continually looking for ways to advantage doctors in the decisions we make and this comprehensive retail strategy is no exception,” said Gordon Jennings, OD, VSP Global board chairman. “This is about growth that helps doctors achieve long-term success, while allowing VSP to fulfill its mission of providing access to quality eye care and eyewear to as many people as possible.”

More information is available at www.JustTheFactsVSP.com.

Advertisement

Advertisement

SPONSORED VIDEO

SPONSORED BY KENMARK

Jump In — the Water’s Fine!

With a salute to summer’s shimmery, mermaid colors and warm weather-loving shades, Kenmark Eyewear celebrates this summer’s Aloha spirit with eyewear from Vera Wang, Kensie, Zac Posen and the Original Penguin Collection!

Promoted Headlines

Headlines

Optical Retailer to Add 25 Stores, Expand Into 4 New States

It’s entering the Florida, Maryland, Pennsylvania and Wyoming markets.

mm

Published

on

DALLAS –Dallas-based optical retailer Eyemart Express announced that it plans to have 25 new locations operating by the end up 2019.

The company currently owns and operates 206 stores in 38 states, according to a press release. It’s expanding into four additional states: Florida, Maryland, Pennsylvania and Wyoming.

“The drive behind our aggressive growth strategy is to make prescription eyewear accessible and convenient for more communities,” said Michael Bender, Eyemart Express CEO. “Seeing clearly should not be a burden or an excessive expense for any family. We work hard to make all our locations an affordable one-stop shop for all eyewear needs.”

Eyemart Express carries more than 2,000 frames for prescription glasses and sunglasses, ranging from exclusive private label brands to well-known brands such as Converse, Longchamp, Calvin Klein, Ray-Ban and Nike. Stores also feature onsite labs so 90 percent of glasses can be ordered and received on the same day.

“Eyemart Express’ growth helps entire communities as well. Job creation is an important factor in determining new store locations — we examine where Eyemart Express can make the biggest contribution to local economies with career opportunities,” said Bender.

More than 300 jobs will be created for hourly wage earners as a result of the optical retailer’s expansion.

Continue Reading

Headlines

Warby Parker Rolls Out 5 Extended Sizes

They range from ‘extra narrow’ to ‘extra wide.’

mm

Published

on

Eyewear  retailer Warby Parker is launching an “extended sizes” collection to help more consumers benefit from its products.

It features “five proportional sizes, ranging from ‘extra narrow’ to ‘extra wide’ and even including low bridge options,” the Observer reports.

Twenty-seven styles are available in seven best-selling frames.

To leverage augmented reality, the company utilized Apple’s ARKit and TrueDepth camera to create software that evaluates proper fit, according to the Observer.

Advertisement

Warby Parker co-founder Dave Gilboa was quoted saying, “We started getting feedback from our customers saying, ‘I love these styles, but you don’t have anything that fits me’ or ‘you only offer one frame that fits me.’”

Chain Store Age reports that Warby Parker spent two years developing the new sizes.

Continue Reading

Headlines

Vision Health Firm Buys Italian Company Focused on Retinal Screening and Telehealth

Next Sight develops robotic and IT technologies to provide ophthalmic diagnostic solutions.

mm

Published

on

Luneau Technology has acquired Next Sight, an Italian company specialized in retinal screening and telehealth.

This acquisition “brings to Luneau increased capabilities – covering both Back and Front of the eye – to propose a comprehensive eye exam, which is a key customer need” and it “supports and brings a set of experience and technology which will help to drive forward a focus on a range of telehealth solutions for Luneau Technology group,” according to a press release.

Financial terms of the deal were not disclosed.

Paola Griggio, CEO of Next Sight, will continue to manage initiatives around retinal topics and will also take up a key leadership role as she is appointed vice president for telehealth at Luneau Technology.

Marc Abitbol, president and CEO Luneau Technology, said, “It is a great opportunity for Luneau Technology to expand our offer.

“We are very excited to enter the telehealth space and welcome Paola among our management team to lead this new capability for the group.”

Advertisement

Luneau Technology produces devices aimed at ophthalmic, optometrists and optical professionals.

Next Sight develops robotic and IT technologies to provide ophthalmic diagnostic solutions. Next Sight produces Nexy, a device which allows retina screening through a platform to securely send patient data to remote locations.

Continue Reading

Advertisement

Advertisement

Subscribe


BULLETINS

Get the most important news and business ideas for eyecare professionals every weekday from INVISION.

Advertisement

Most Popular