LensCrafters: Difference between revisions
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Kaltenmeyer (talk | contribs) Importing Wikidata short description: "American optician and eyewear retail chain" (Shortdesc helper) |
Largoplazo (talk | contribs) Reverted 1 edit by HLHJ (talk): Doesn't being in the short description and already stated in the second paragraph. |
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| foundation = {{start date and age|1983|3}} |
| foundation = {{start date and age|1983|3}} |
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| founders = E. Dean Butler |
| founders = E. Dean Butler |
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| areas_served = [[ |
| areas_served = [[United States]]<br>[[Canada]]<br>[[Puerto Rico]]<br>[[Hong Kong]]<br>[[India]] |
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| industry = Eye care |
| industry = Eye care |
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| parent = [[United States Shoe Corporation]]<br> (1984–1995)<br> [[Luxottica]]<br>(1995–2018)<br>[[EssilorLuxottica]] (2018-present) |
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| parent = [[Luxottica]] |
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| hq_location = [[Mason, Ohio]], U.S. |
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| num_locations = 1,158 |
| num_locations = 1,158 |
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| products = [[Eyewear]], [[glasses]], [[sunglasses]] |
| products = [[Eyewear]], [[glasses]], [[sunglasses]] |
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| homepage = {{url|https://www.lenscrafters.com}} |
| homepage = {{url|https://www.lenscrafters.com}} |
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}} |
}} |
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[[Image:LensCrafters |
[[Image:LensCrafters in CF Sherway Gardens 2023.jpg|thumb|257px|right|LensCrafters Optique store in [[Sherway Gardens]], [[Toronto]], Canada]] |
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[[Image:LensCrafters Optique store Ann Arbor.JPG|thumb|257px|right|LensCrafters Optique store in [[Ann Arbor, Michigan|Ann Arbor, MI]]]] |
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'''LensCrafters''' is an international retailer of [[glasses|prescription eyewear]] and prescription [[sunglasses]]. Its stores usually host independent [[optometrist]]s on-site or in an adjacent store. The company has its corporate headquarters in [[Mason, Ohio]], a suburb of [[Cincinnati]]. |
'''LensCrafters''' is an international retailer of [[glasses|prescription eyewear]] and prescription [[sunglasses]]. Its stores usually host independent [[optometrist]]s on-site or in an adjacent store. The company has its corporate headquarters in [[Mason, Ohio]], a suburb of [[Cincinnati]] in the US. |
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LensCrafters has been a wholly owned subsidiary of [[ |
LensCrafters has been a wholly owned subsidiary of [[Luxottica]] (which has since merged with [[Essilor]] to form [[EssilorLuxottica]]),<ref>{{Cite news |date=2017-01-15 |title=Essilor to Buy Ray-Ban Maker Luxottica for About $24 Billion |language=en |work=Bloomberg.com |url=https://www.bloomberg.com/news/articles/2017-01-15/luxottica-essilor-agree-to-50-billion-euro-merger-ft-reports |access-date=2023-08-14}}</ref> the largest eyewear company in the world, since 1995.<ref>[https://query.nytimes.com/gst/fullpage.html?res=9E0DE0D9163FF936A25757C0A9609C8B63 "At LensCrafters selling candor and designer frames"], ''[[New York Times]]'' (April 16, 2006).</ref><ref name="purchase2">{{cite news|url=https://www.latimes.com/archives/la-xpm-1995-04-17-fi-55620-story.html|title=U.S. Shoe Agrees to $1.3-Billion Takeover Offer|date=April 17, 1995|newspaper=[[LA Times]]|access-date=September 15, 2018}}</ref> 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.<ref>{{Cite web|url=http://www.luxottica.com/sites/luxottica.com/files/luxottica_group_relazione_finanziaria_annuale_2018_eng_20190410.pdf|title=Luxottica Annual Report 2018|date=2019-04-10|website=Luxottica|access-date=2019-06-18}}</ref> |
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== History == |
== History == |
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LensCrafters was founded in March 1983 by E. Dean Butler, who had been a manager with [[Procter & Gamble]].<ref name=":0">{{Cite web|url=https://natsci.msu.edu/natsci-profiles/e-dean-butler-an-alumnus-with-a-clear-vision/|title=E. Dean Butler: An alumnus with a clear vision|website=natsci.msu.edu|language=en|access-date=2019-06-18}}</ref><ref>{{Cite news|url=https://www.theguardian.com/news/2018/may/10/the-invisible-power-of-big-glasses-eyewear-industry-essilor-luxottica|title=The spectacular power of Big Lens {{!}} The long read|last=Knight|first=Sam|date=2018-05-10|work=The Guardian|access-date=2019-06-18|language=en-GB|issn=0261-3077}}</ref><ref>{{Cite web|url=https://www.vox.com/the-goods/2019/3/6/18253555/eyeglasses-cost-lenscrafters-essilor-luxottica|title=Glasses can have a markup of 1,000%. Two former LensCrafters executives revealed why.|last=Lieber|first=Chavie|date=2019-03-06|website=Vox|access-date=2019-06-18}}</ref><ref name=":1">{{Cite web|url=http://www.fundinguniverse.com/company-histories/lenscrafters-inc-history/|title=History of LensCrafters Inc. – FundingUniverse|website=www.fundinguniverse.com|access-date=2019-06-18}}</ref> 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.<ref name=":0" /> |
LensCrafters was founded in March 1983 by E. Dean Butler, who had been a manager with [[Procter & Gamble]].<ref name=":0">{{Cite web|url=https://natsci.msu.edu/natsci-profiles/e-dean-butler-an-alumnus-with-a-clear-vision/|title=E. Dean Butler: An alumnus with a clear vision|website=natsci.msu.edu|language=en|access-date=2019-06-18}}</ref><ref>{{Cite news|url=https://www.theguardian.com/news/2018/may/10/the-invisible-power-of-big-glasses-eyewear-industry-essilor-luxottica|title=The spectacular power of Big Lens {{!}} The long read|last=Knight|first=Sam|date=2018-05-10|work=The Guardian|access-date=2019-06-18|language=en-GB|issn=0261-3077}}</ref><ref>{{Cite web|url=https://www.vox.com/the-goods/2019/3/6/18253555/eyeglasses-cost-lenscrafters-essilor-luxottica|title=Glasses can have a markup of 1,000%. Two former LensCrafters executives revealed why.|last=Lieber|first=Chavie|date=2019-03-06|website=Vox|access-date=2019-06-18}}</ref><ref name=":1">{{Cite web|url=http://www.fundinguniverse.com/company-histories/lenscrafters-inc-history/|title=History of LensCrafters Inc. – FundingUniverse|website=www.fundinguniverse.com|access-date=2019-06-18}}</ref> 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.<ref name=":0" /> |
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LensCrafters achieved sales of $2 million in its first year of operation<ref name=":2">{{Cite web|url=https://premierespeakers.com/dean_butler/bio|title=Dean Butler {{!}} Bio {{!}} Premiere Speakers Bureau|website=premierespeakers.com|access-date=2019-06-18}}</ref> before Butler sold the company to the [[United States Shoe Corporation]] in 1984.<ref>{{Cite web|url=https://www.cincinnati.com/story/money/2017/01/16/mason-based-lenscrafters-now-part-new-european-eyewear-giant/96633222/|title=Mason's LensCrafters now part of $52.5B eyewear giant|website=Cincinnati.com|language=en|access-date=2019-06-18}}</ref><ref name=":1" /> Butler remained as LensCrafters' CEO until 1988 |
LensCrafters achieved sales of $2 million in its first year of operation<ref name=":2">{{Cite web|url=https://premierespeakers.com/dean_butler/bio|title=Dean Butler {{!}} Bio {{!}} Premiere Speakers Bureau|website=premierespeakers.com|access-date=2019-06-18}}</ref> before Butler sold the company to the [[United States Shoe Corporation]] in 1984.<ref>{{Cite web|url=https://www.cincinnati.com/story/money/2017/01/16/mason-based-lenscrafters-now-part-new-european-eyewear-giant/96633222/|title=Mason's LensCrafters now part of $52.5B eyewear giant|website=Cincinnati.com|language=en|access-date=2019-06-18}}</ref><ref name=":1" /> Butler remained as LensCrafters' CEO until 1988.<ref>{{Cite web|url=https://www.bloomberg.com/research/stocks/private/person.asp?personId=748363&privcapId=378329|title=E. Dean Butler: Executive Profile & Biography - Bloomberg|website=www.bloomberg.com|access-date=2019-06-18}}</ref> |
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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.<ref name="lens crafters">{{cite |
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.<ref name="lens crafters">{{cite encyclopedia | url= http://www.encyclopedia.com/social-sciences-and-law/economics-business-and-labor/businesses-and-occupations/lenscrafters-inc | title= LensCrafters Inc. | encyclopedia=Encyclopedia.com | accessdate=January 3, 2018}}</ref> |
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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.<ref name=":1" /> |
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.<ref name=":1" /> |
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In 1995, Luxottica launched a hostile takeover attempt of |
In 1995, Luxottica launched a hostile takeover attempt of [[United States Shoe CorporationU.S. Shoe]], with the goal of acquiring LensCrafters.<ref name="hostile">{{cite news | url=https://www.courant.com/1995/03/31/us-shoe-luxottica-courting-shareholders-in-takeover-battle/ | title= U.S. Shoe, Luxottica Courting Shareholders In Takeover Battle |work=[[Hartford Courant]] | date= March 31, 1995 | access-date=January 3, 2018}}</ref> Luxottica announced in April 1995, that it had reached an agreement to purchase U.S. Shoe for $1.4 billion.<ref name="purchase">{{cite news | url=https://www.nytimes.com/1995/04/18/business/luxottica-to-acquire-us-shoe-for-1.4-billion.html | title= Luxottica to Acquire U.S. Shoe for $1.4 Billion |work=[[The New York Times]] | date= April 18, 1995 | accessdate=September 15, 2018}}</ref> |
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Luxottica acquired Pearle Vision in 2004, combining the country's two largest eyewear retailers.<ref>{{Cite |
Luxottica acquired Pearle Vision in 2004, combining the country's two largest eyewear retailers.<ref>{{Cite news|url=https://www.wsj.com/articles/SB107510259331511463|title=Italy's Luxottica Agrees to Pay $441 Million for Cole National|last1=Emsden|first1=Christopher |last2=Rohwedder |first2=Cecilie |website=[[The Wall Street Journal]] |date=27 January 2004 |language=en-US|access-date=2019-06-18}}</ref> 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. |
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LensCrafters India opened its first store at Mall of India, Noida. |
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==References== |
==References== |
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[[Category:Luxottica]] |
[[Category:Luxottica]] |
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[[Category:Eyewear retailers of the United States]] |
[[Category:Eyewear retailers of the United States]] |
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[[Category:American companies established in 1983]] |
[[Category:American companies established in 1983]] |
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[[Category:Clothing companies established in 1983]] |
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[[Category:Retail companies established in 1983]] |
[[Category:Retail companies established in 1983]] |
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| ⚫ | |||
[[Category:Companies based in Cincinnati]] |
[[Category:Companies based in Cincinnati]] |
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[[Category:Eyewear retailers of Canada]] |
[[Category:Eyewear retailers of Canada]] |
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Latest revision as of 23:02, 23 October 2024
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| 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) |
| Website | www |
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 (which has since merged with Essilor to form 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]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 United States Shoe CorporationU.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
[edit]- ^ "Essilor to Buy Ray-Ban Maker Luxottica for About $24 Billion". Bloomberg.com. 2017-01-15. Retrieved 2023-08-14.
- ^ "At LensCrafters selling candor and designer frames", New York Times (April 16, 2006).
- ^ "U.S. Shoe Agrees to $1.3-Billion Takeover Offer". LA Times. April 17, 1995. Retrieved September 15, 2018.
- ^ "Luxottica Annual Report 2018" (PDF). Luxottica. 2019-04-10. Retrieved 2019-06-18.
- ^ a b "E. Dean Butler: An alumnus with a clear vision". natsci.msu.edu. Retrieved 2019-06-18.
- ^ Knight, Sam (2018-05-10). "The spectacular power of Big Lens | The long read". The Guardian. ISSN 0261-3077. Retrieved 2019-06-18.
- ^ Lieber, Chavie (2019-03-06). "Glasses can have a markup of 1,000%. Two former LensCrafters executives revealed why". Vox. Retrieved 2019-06-18.
- ^ a b c "History of LensCrafters Inc. – FundingUniverse". www.fundinguniverse.com. Retrieved 2019-06-18.
- ^ "Dean Butler | Bio | Premiere Speakers Bureau". premierespeakers.com. Retrieved 2019-06-18.
- ^ "Mason's LensCrafters now part of $52.5B eyewear giant". Cincinnati.com. Retrieved 2019-06-18.
- ^ "E. Dean Butler: Executive Profile & Biography - Bloomberg". www.bloomberg.com. Retrieved 2019-06-18.
- ^ "LensCrafters Inc.". Encyclopedia.com. Retrieved January 3, 2018.
- ^ "U.S. Shoe, Luxottica Courting Shareholders In Takeover Battle". Hartford Courant. March 31, 1995. Retrieved January 3, 2018.
- ^ "Luxottica to Acquire U.S. Shoe for $1.4 Billion". The New York Times. April 18, 1995. Retrieved September 15, 2018.
- ^ Emsden, Christopher; Rohwedder, Cecilie (27 January 2004). "Italy's Luxottica Agrees to Pay $441 Million for Cole National". The Wall Street Journal. Retrieved 2019-06-18.
External links
[edit]
Media related to LensCrafters at Wikimedia Commons- Official website
| EssilorLuxottica owned | |
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| Not EssilorLuxottica owned | |
 | This retail business article is a stub. You can help Wikipedia by expanding it. |