LensCrafters

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File:LensCrafters in CF Sherway Gardens 2023.jpg
LensCrafters Optique store in Sherway Gardens, Toronto, Canada
File:LensCrafters Optique store Ann Arbor.JPG
LensCrafters Optique store in Ann Arbor, MI

LensCrafters is an international retailer of prescription eyewear and prescription sunglasses. Its stores usually host independent optometrists on-site or in an adjacent store. The company has its corporate headquarters in Mason, Ohio, a suburb of Cincinnati in the US.

LensCrafters has been a wholly owned subsidiary of Luxottica (which has since merged with Essilor to form EssilorLuxottica),[1] the largest eyewear company in the world, since 1995.[2][3] At the end of 2018, Luxottica operated 1,158 LensCrafters stores, of which 1,050 are located in North America and 108 are located in China, Hong Kong and India.[4]

History

LensCrafters was founded in March 1983 by E. Dean Butler, who had been a manager with Procter & Gamble.[5][6][7][8] Butler first developed the idea for a "while you wait" eyeglass retailer after helping a Procter & Gamble colleague produce television commercials for a family optical business in the late 1970s.[5]

LensCrafters achieved sales of $2 million in its first year of operation[9] before Butler sold the company to the United States Shoe Corporation in 1984.[10][8] Butler remained as LensCrafters' CEO until 1988.[11]

LensCrafters had just three locations when U.S. Shoe purchased it; by 1989, there were 350 locations, and LensCrafters was generating 40% of U.S. Shoe's operating income.[12]

In 1992, LensCrafters surpassed Pearle Vision to become the largest chain of eyeglass retailers in the United States, with roughly $660 million in annual revenue.[8]

In 1995, Luxottica launched a hostile takeover attempt of United States Shoe CorporationU.S. Shoe, with the goal of acquiring LensCrafters.[13] Luxottica announced in April 1995, that it had reached an agreement to purchase U.S. Shoe for $1.4 billion.[14]

Luxottica acquired Pearle Vision in 2004, combining the country's two largest eyewear retailers.[15] Though most locations can still provide glasses and frames same-day, that line of business has become de-emphasized over time for the luxury market.

References

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External links

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  1. ↑ Script error: No such module "citation/CS1".
  2. ↑ "At LensCrafters selling candor and designer frames", New York Times (April 16, 2006).
  3. ↑ Script error: No such module "citation/CS1".
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  5. ↑ a b Script error: No such module "citation/CS1".
  6. ↑ Script error: No such module "citation/CS1".
  7. ↑ Script error: No such module "citation/CS1".
  8. ↑ a b c Script error: No such module "citation/CS1".
  9. ↑ Script error: No such module "citation/CS1".
  10. ↑ Script error: No such module "citation/CS1".
  11. ↑ Script error: No such module "citation/CS1".
  12. ↑ Script error: No such module "citation/CS1".
  13. ↑ Script error: No such module "citation/CS1".
  14. ↑ Script error: No such module "citation/CS1".
  15. ↑ Script error: No such module "citation/CS1".
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