LensCrafters
 | |
| Industry | Eye care |
|---|---|
| Founded | March 1983 |
| Founders | E. Dean Butler |
| Headquarters | Mason, Ohio, U.S. |
Number of locations | 1,158 |
Areas served | United States Canada Puerto Rico Hong Kong India |
| Products | Eyewear, glasses, sunglasses |
| Parent | United States Shoe Corporation (1984–1995) Luxottica (1995–2018) EssilorLuxottica (2018-present) |
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 (now part of 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
[edit | edit source]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 U.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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- ^ "At LensCrafters selling candor and designer frames", New York Times (April 16, 2006).
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External links
[edit | edit source]- Error creating thumbnail: File missing Media related to Lua error in Module:Commons_link at line 62: attempt to index field 'wikibase' (a nil value). at Wikimedia Commons
- Official website
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- Luxottica
- Eyewear retailers of the United States
- 1983 establishments in Ohio
- American companies established in 1983
- Retail companies established in 1983
- Companies based in Cincinnati
- Eyewear retailers of Canada
- Eyewear companies of the United States
- 1995 mergers and acquisitions
- United States retail company stubs