MyOptique Group, a leading European online prescription glasses, contact lenses and sunglasses retailer, has been acquired by French lens maker Essilor. The financial details of the deal have not been disclosed but the sources predict that the French lens producer is paying around €140 million for MyOptique shares.
UK-based MyOptique Group runs multi-brand and multi-model e-commerce websites such as Glasses Direct (prescription glasses) and SunglassesShop (non-prescription sunglasses) in the UK, Lensbest (contact lenses) in Germany and LensOn (contact lenses) in the Nordics. The 11-year-old group, who has raised a total of £55 million so far from the VCs, reported £57 million in revenue last fiscal year.
The acquisition will serve big to strengthen global supply chain of the French lens producer and move it further towards direct online retailing. The company said in a statement, “Essilor’s online business helps to raise awareness among an ever-growing community of consumers about the importance of protecting and correcting their eyesight.”
Maurice Helfgott, chairman of MyOptique, added: “The business has achieved pan European scale, is growing fast and had a number of strategic options for its next stage. Joining Essilor, the world leader in ophthalmic optics, was by far the most compelling one.”
Essilor reported consolidated revenue of over €6.7 billion in 2015 and employs 61,000 people worldwide. It markets its products in more than 100 countries and has 32 plants, 490 prescription laboratories and edging facilities, as well as five research and development centers around the world.