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]
Historyedit
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.
Referencesedit
^"Essilor to Buy Ray-Ban Maker Luxottica for About $24 Billion". Bloomberg.com. 2017-01-15. Retrieved 2023-08-14.
^"At LensCrafters selling candor and designer frames", New York Times (April 16, 2006).
^"U.S. Shoe Agrees to $1.3-Billion Takeover Offer". LA Times. April 17, 1995. Retrieved September 15, 2018.
^"LensCrafters Inc.". Encyclopedia.com. Retrieved January 3, 2018.
^"U.S. Shoe, Luxottica Courting Shareholders In Takeover Battle". Hartford Courant. March 31, 1995. Retrieved January 3, 2018.
^"Luxottica to Acquire U.S. Shoe for $1.4 Billion". The New York Times. April 18, 1995. Retrieved September 15, 2018.
^Emsden, Christopher; Rohwedder, Cecilie (27 January 2004). "Italy's Luxottica Agrees to Pay $441 Million for Cole National". The Wall Street Journal. Retrieved 2019-06-18.
External linksedit
Media related to LensCrafters at Wikimedia Commons
Official website
This retail business article is a stub. You can help Wikipedia by expanding it.
lenscrafters, international, retailer, prescription, eyewear, prescription, sunglasses, stores, usually, host, independent, optometrists, site, adjacent, store, company, corporate, headquarters, mason, ohio, suburb, cincinnati, industryeye, carefoundedmarch, 1. 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 LensCraftersIndustryEye careFoundedMarch 1983 41 years ago 1983 03 FoundersE Dean ButlerHeadquartersMason Ohio U S Number of locations1 158Areas servedUnited StatesCanadaPuerto RicoHong KongIndiaProductsEyewear glasses sunglassesParentUnited States Shoe Corporation 1984 1995 Luxottica 1995 2018 EssilorLuxottica 2018 present Websitewww wbr lenscrafters wbr com LensCrafters Optique store in Sherway Gardens Toronto Canada LensCrafters Optique store in Ann Arbor MI 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 editLensCrafters was founded in March 1983 by E Dean Butler who had been a manager with Procter amp Gamble 5 6 7 8 Butler first developed the idea for a while you wait eyeglass retailer after helping a Procter amp 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 edit Essilor to Buy Ray Ban Maker Luxottica for About 24 Billion Bloomberg com 2017 01 15 Retrieved 2023 08 14 At LensCrafters selling candor and designer frames New York Times April 16 2006 U S Shoe Agrees to 1 3 Billion Takeover Offer LA Times April 17 1995 Retrieved September 15 2018 Luxottica Annual Report 2018 PDF Luxottica 2019 04 10 Retrieved 2019 06 18 a b E Dean Butler An alumnus with a clear vision natsci msu edu Retrieved 2019 06 18 Knight Sam 2018 05 10 The spectacular power of Big Lens The long read The Guardian ISSN 0261 3077 Retrieved 2019 06 18 Lieber Chavie 2019 03 06 Glasses can have a markup of 1 000 Two former LensCrafters executives revealed why Vox Retrieved 2019 06 18 a b c History of LensCrafters Inc FundingUniverse www fundinguniverse com Retrieved 2019 06 18 Dean Butler Bio Premiere Speakers Bureau premierespeakers com Retrieved 2019 06 18 Mason s LensCrafters now part of 52 5B eyewear giant Cincinnati com Retrieved 2019 06 18 E Dean Butler Executive Profile amp Biography Bloomberg www bloomberg com Retrieved 2019 06 18 LensCrafters Inc Encyclopedia com Retrieved January 3 2018 U S Shoe Luxottica Courting Shareholders In Takeover Battle Hartford Courant March 31 1995 Retrieved January 3 2018 Luxottica to Acquire U S Shoe for 1 4 Billion The New York Times April 18 1995 Retrieved September 15 2018 Emsden Christopher Rohwedder Cecilie 27 January 2004 Italy s Luxottica Agrees to Pay 441 Million for Cole National The Wall Street Journal Retrieved 2019 06 18 External links edit nbsp Media related to LensCrafters at Wikimedia Commons Official website nbsp This retail business article is a stub You can help Wikipedia by expanding it vte Retrieved from https en wikipedia org w index php title LensCrafters amp oldid 1212863572, wikipedia, wiki, book, books, library,
