eyebobs Signs Agreement With Norwest Equity Partners

MINNEAPOLIS, March 17, 2015 /PRNewswire/ -- eyebobs, the market leader in luxury reading glasses, announces that it has signed an agreement with Norwest Equity Partners ("NEP"), a Minneapolis-based investment firm. NEP's investment capital is a significant milestone for eyebobs and will be leveraged to fuel further growth.

When founder and president Julie Allinson couldn't picture herself wearing inexpensive dime store readers, and a visit to the local optical store gave her sticker shock, Allinson decided to launch eyebobs, born out of the realization that high-quality, stylish readers at an affordable price weren't available. Founded in 2001 and headquartered in Minneapolis, eyebobs designs a collection of readers and sun readers for independent thinkers and frugal fashionisitas who share the company's irreverent sense of humor. Fans of the brand include journalists, authors, CEOs, and musicians, among other devotees.

Having successfully created a niche in the eyewear market by developing a line of distinctive reading glasses sold at an exceptional value, the company has changed consumers' concept of reading glasses from an unwelcome necessity to a statement-making fashion accessory. eyebobs sells to high-end retail stores as well as direct to consumers through eyebobs.com.

"The entire eyebobs team is excited to work with an investment partner such as NEP," said Allinson.  "We look forward to tapping into NEP's industry knowledge and investment experience and leveraging its extensive network of relationships. We are confident that NEP will help eyebobs achieve its next stage of growth."

Tim Kuehl, a NEP partner and eyebobs board member, stated, "We believe that eyebobs has the potential for significant growth. Within the U.S. alone, approximately 75% of adults use some sort of vision correction and nearly 100% need reading help after age 40. We are excited to work with Julie and her management team to significantly grow the business by building awareness for the product and broadening distribution both with existing and new channel partners."

eyebobs operates out of a 36,000 square foot facility in downtown Minneapolis and employs 26 people.

For more information, visit www.eyebobs.com.

More information on NEP can be found at www.nep.com.

SOURCE eyebobs

Related Links

http://www.eyebobs.com

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED