By Aimee Chanthadavong
Luxottica has sold the BrightEyes Sunglasses chain back to its original owners, Ralph Edwards and Geoff Harbert, for an undisclosed amount.
Bright Eyes Sunglasses, which has over 70 retail stores in Australia, was initially sold to Oakley in 2007, which has since come under the Luxottica umbrella.
Adrian Cutcliffe, Sunglass Hut franchise and business development director, told RetailBiz the former owners have always had a strong interest in the brand.
“They are focused on building on the success of the business for the Bright Eyes franchise partners and continuing to develop the brand they helped create,” he said.
According to Cutcliffe, the sale will enable the company to focus on it is existing portfolio made up of Sunglasses Hut, OPSM, Budget Eyewear, Laubman & Pank and Just Specs.
“The market is constantly changing and we are always looking at ways to simplify, focus and connect across all our brands,” he said.
“With the success of our global brand Sunglass Hut in Australia and New Zealand, we are focusing on this brand for further growth in this region.”
Cutcliffe also reassured it’ll be business as usual for existing BrightEyes franchise partners.
“For our franchise partners, this opportunity provides for them the dedicated management focus of new owners committed to building and maximising the growth potential of the brand,” he said.
“Luxottica’s strategy is to focus and simplify to build a focused portfolio of strong global brands that we continue to grow and invest in.”