MASON, Ohio—Pearle Vision, a division of Luxottica, is gearing up for a “strategic franchise growth phase that will significantly expand the brand’s U.S. presence,” according to an announcement made earlier this week.
Markets targeted for new growth include New York and Seattle (which already have Pearle Vision locations) and “untapped, attractive areas that include San Francisco, San Diego and Louisville,” the announcement noted.
Pearle Vision—which currently has 120 corporate and 419 franchise locations—has a goal to reach 1,000 locations in the next four years by adding new sites and acquisitions, a spokeswoman confirmed.
“For more than six decades, we’ve been a leader in eyecare and the advancements we’ve made recently are all geared to keep us right there,” Alex Wilkes, general manager of Pearle Vision, said in the announcement. “Pearle Vision has been one of the best kept secrets in the optical industry. Our system includes licensed owners (franchisees) who have built incredible businesses for themselves and now we’ve reinforced the model for years to come.”
In addition, Pearle said that the launch of its “Area Developer model” earlier this year has resulted in Pearle Vision awarding a group of qualified licensed owners the rights to open throughout entire designated market areas (DMAs) or states.
“Thus far, area developer groups have finalized agreements to build out the Tampa, Fla., and Phoenix Ariz., markets,” the announcement stated. The multi-unit ownership deals include a 15-location deal in Tampa and an eight-location deal in Phoenix. Two additional multi-unit deals are in the works, the spokeswoman confirmed.
The brand’s operating model, which Pearle refers to as “eyecon,” launched in 2015 and represents a critical element in “paving the way for the brand’s emergent franchise growth,” the announcement added. The turnkey eyecon program is a supply chain solution that includes much more than a point-of-sale system. It’s a POS system that’s hooked up to the company’s overall supply chain, bringing in frames, lenses, pricing and contact lens distributors, according to the announcement.
Along with eyecon, Pearle Vision has redefined its local marketing approach, providing licensed owners at every stage of their business cycle a plan to keep and expand market share. The digital component of the brand’s marketing package now includes online exam scheduling, which has quickly made a strong impact, accounting currently for 25 percent of Pearle Vision licensed owners’ patient scheduling, according to the announcement.
Pearle noted that the company believes it distinguishes itself in the marketplace “with the sway of immense buying power on its side, bridging relationships with the most well-known name brands in eyewear and managed vision care, maintaining tight connections with lens and contact lens distributors and providing access to state-of-the-art equipment at favorable price points.”
“It is all about helping licensed owners become more profitable,” Wilkes added. “The business model supports our pledge that ‘Nobody Cares for Eyes More Than Pearle’ and the only way we can achieve that is if our owners can focus on what they do best—running their business and caring for patients.”