The Quebec eyewear company Vision New Look is pursuing its growth ambitions in the United States with the acquisition of Luxury Optical Holdings, a New York-based company that manages 34 so-called “luxury” optical stores in affluent neighborhoods in the city. major American cities.
Luxury Optical also operates its own workshop for the design and manufacture of eyeglasses in high-value materials in collaboration with specialized manufacturers in Germany, Japan and France.
With this acquisition, New Look Vision plans to double the size of its still young business footprint south of the border. Apart from the “strategic partnership” established in September with the American Black Optical, this is also the first major acquisition made by New Look Vision since it withdrew its shares from the Stock Exchange last May.
This share capital closure was carried out with the financial support of a long-time shareholder, the Caisse de dépôt et placement du Québec, as well as a new shareholder of Californian origin, the investment firm FFL Partners, based in San Francisco and already involved in the optical market in the United States.
Having become a privately held company, New Look Vision does not disclose the financial terms of its acquisition of Luxury Optical. In a statement issued by press release, its CEO, Antoine Amiel, describes the acquisition of Luxury Optical as “a major step forward for both organizations with particular focus on expansion, both at the retail and wholesale level, as well as product development. “
Moreover, according to recent remarks by Mr. Amiel quoted in the newspaper Deals, New Look Vision’s revenue could approach the $ 400 million threshold with the addition of Luxury Optical activities as a new subsidiary in the United States.
As a whole, New Look Vision operates a network of 428 stores under the Iris, New Look Eyewear, Vogue Optical, and Greiche & Scaff banners in Canada and Quebec.
In the United States, it operates under the Edward Beiner brand, acquired in 2020, as well as in partnership with the Black Optical group since September.