Luxottica Expands in New Zealand, Buying 12 Eyecare Locations, Online CL Site

MILAN—Luxottica Group (NYSE: LUX) announced yesterday it has acquired New Zealand-based MySight Vision Specialists Group.

The acquisition, for which the price was not revealed, gives Luxottica 12 eyecare practices that had operated under the names MySight Optometrists and Vision Specialists Group, plus an online contact lens business called LensDirect. Luxottica now has 110 eyewear/eyecare locations in New Zealand, the announcement said.

Chris Beer, chief executive officer of Luxottica Asia Pacific, commented, “New Zealand is an important market for the group, and we are focused on growing our key retail brands here, both organically and through acquisition.”

Describing the MySight Vision purchase as “an important step in our strategy to increase our budget offering to New Zealand,” Beer said nine of the 12 locations will take on Luxottica’s Budget Eyewear store name, while the other three will move under the company’s OPSM retail umbrella.

Last year, Luxottica acquired a contact lens site in New Zealand called Contacts2Go; LensDirect has already been folded into that website, at www.contactlenses.co.nz.

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