Pearle Vision Announces New Owner Of Neighborhood Eye Care Center In Akron, Ohio

MASON, Ohio, June 25, 2013 /PRNewswire/ -- Pearle Vision, one of North America's largest and most trusted licensed optical brands, announced it has signed a licensing agreement with Dr. Richard E. Hults to assume ownership of the Pearle Vision eye care center in Akron, Ohio.  The eye care center located at 3893 Medina Road had been corporate-owned, serving the community since 1998.

"I am excited to join the Pearle Vision family and will continue to ensure that the local community in Akron benefits from the brand's extensive optical and retail experience," said Dr. Hults, Akron Pearle Vision licensee. "We are committed to offering our patients the absolute best in eye care and look forward to continuing to be a trusted source for all of their eye health needs."

Dr. Hults has been a resident of the Akron area for nearly three decades and spent the past 28 years serving the Akron community as a practicing optometrist. Since graduating optometry school and learning of Pearle Vision, Dr. Hults had always wanted to own his own business. Dr. Hults is also an active supporter of OneSight^®, an initiative that has helped more than 8 million people see more clearly over the past two decades.  He personally has participated in 14 global missions to China, Thailand, South Africa, Paraguay, Bolivia, Peru, Nicaragua, El Salvador, Honduras, Guatemala and the Dominican Republic. Dr. Hults is also proud to announce that Carol Ebersole has joined his team as General Manager. Ebersole began her career with Pearle Vision back in 1985; she lives in Akron and is thrilled to be serving her community.

"For more than 50 years, Pearle Vision has been committed to providing genuine eye care to patients through our doctor-centric business model," said Srinivas Kumar, senior vice president and general manager, Pearle Vision. "We are proud to add Dr. Hults to our team, and know that with his extensive background as an optometrist and his dedication to the eye care profession, he is the perfect fit for Pearle Vision."

Pearle Vision has a significant legacy in the industry and has continued to outpace competitors by evolving to meet patients' changing needs and providing quality products and services they desire. With more than 620 centers located throughout North America, the company offers best-in-class eye care provided by neighborhood doctors who are skilled optometrists, a principle created by Dr. Stanley Pearle in 1961.

"Pearle Vision is proud to offer optometrists a proven network of support, which allows them to focus on what they are really passionate about – delivering quality eye care to their patients," said Kumar.

Pearle Vision is now seeking to grow its national footprint and has identified development opportunities in markets from coast-to-coast, including Cincinnati, Dayton, Cleveland and Columbus, Ohio. In addition to new territories available for development, corporate-owned locations in markets such as Michigan and Florida also are available and have thriving operations with strong customer-bases.

To fuel its growth, the company is looking for optometrists interested in licensing opportunities. Ideal candidates for Pearle Vision ownership should possess a desire to join a trusted industry-leading brand and work within a proven system to provide exceptional eye care and superior patient service. Pearle Vision licensees can expect their initial investment to build a new center to cost approximately $200,000, in addition to a licensing fee of $30,000.

Optometrists interested in exploring re-licensing or new development opportunities should call 1.800.PEARLE.1 or visit www.pearlevisionfranchise.com.

About Pearle Vision
Pearle Vision was founded in 1961 by Dr. Stanley Pearle, who began the concept of one-stop, total eye care with the opening of the Pearle Vision Center in Savannah, Ga. Pearle combined complete eye exams with an extensive selection of eyewear. In 1981, Pearle Vision began offering licenses to select doctors and opticians. Today, with more than 620 eye care centers through the United States, Pearle Vision is built around a doctor-centered business model with a primary focus to deliver genuine eye care to patients and become a trusted source for all their eye health needs. Pearle Vision is owned by Luxottica, a leader in premium fashion, luxury and sports eyewear. For more information, visit http://www.PearleVision.com.

About Luxottica Group S.p.A.
Luxottica Group is a leader in premium fashion, luxury and sports eyewear, with approximately 7,000 optical and sun retail stores in North America, Asia-Pacific, China, South Africa, Latin America and Europe and a strong and well balanced brand portfolio. Luxottica's key house brands include Ray-Ban, the best known sun eyewear brand in the world, Oakley, Vogue, Persol, Oliver Peoples, Arnette and REVO, while license brands include Bvlgari, Burberry, Chanel, Dolce & Gabbana, Donna Karan, Polo Ralph Lauren, Prada, Tiffany and Versace. In addition to a global wholesale network covering 130 countries, the Group manages leading retail brands such as LensCrafters and Pearle Vision in North America, OPSM and Laubman & Pank in Australasia, LensCrafters in Greater China, GMO in Latin America and Sunglass Hut globally. The Group's products are designed and manufactured in six Italy-based manufacturing plants, two wholly-owned plants in China and a sports sunglass production facility in the U.S. In 2010, Luxottica Group posted consolidated net sales of approximately €6.2 billion. Additional information on the Group is available at www.luxottica.com.

Safe Harbor Statement
Certain statements in this press release may constitute "forward looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Such statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those which are anticipated. Such risks and uncertainties include, but are not limited to, the ability to manage the effects of the current uncertain international economic outlook, the ability to successfully acquire and integrate new businesses, the ability to predict future economic conditions and changes to consumer preferences, the ability to successfully introduce and market new products, the ability to maintain an efficient distribution system, the ability to achieve and manage growth, the ability to negotiate and maintain favourable license agreements, the availability of correction alternatives to prescription eyeglasses, fluctuations in exchange rates, changes in local conditions, the ability to protect intellectual property, the ability to maintain relations with those hosting our stores, computer system problems, inventory-related risks, credit and insurance risks, changes to tax regimes as well as other political, economic and technological factors and other risks and uncertainties referred to in Luxottica Group's filings with the U.S. Securities and Exchange Commission. These forward looking statements are made as of the date hereof and Luxottica Group does not assume any obligation to update them.

MEDIA CONTACTS:
Amanda DelPrete
954-893-9150
[email protected]

Emily Ryan
513-765-3358
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SOURCE Pearle Vision