By Aimee Chanthadavong
With already five brands under the company, Luxottica has completed the acquisition of Optifashion.
Speaking to Retailbiz, a spokesperson from Luxottica said the company has been looking to expand geographically.
“When we looked across all the states, we had a real opportunity to expand our store network and presence,” the spokesperson said.
“Some of our stores will be rebranded to Budget Eyewear and others to OPSM and this will happen based on customer demographics and in separate stages.”
The acquisition of the 61 Optifashion stores will bring Luxottica’s retail footprint to almost 1000 stores.
Luxottica also saw it as an opportunity to expand the business they already have.
Several stores are already in the process of being rebranded with all stores expected to be completed by the end of first quarter of 2011.
The price for the acquisition has not been disclosed.