OPSM to add 50+ stores while sister brands closed by Luxottica

Sarah Stowe


More than 50 extra OPSM stores are planned for Australia and New Zealand. But the opportunities come at the expense of other brands within the Luxottica Group.

To boost the OPSM business to about 470 outlets throughout Australia and New Zealand by 2015, Luxottica will spend $5 million promoting the brand and direct $40 million of capital expenditure to the chain.

But the cost conscious Budget Eyewear and Just Specs brands will be rebranded to the OPSM marque and the more prestige Laubman and Pank chain refocused to its core base of South Australia, Western Australia and Queensland. In NSW and Victoria some Laubman and Pank stores will also be rebranded as OPSM while lower performing stores may relocate or close.

Chris Beer, Luxottica’s chief executive officer of Asia Pacific, said in a statement the focus is clearly on the mainstream OPSM business. The company reported stores had grown like for like by more than 10 percent in the December quarter.

“Given the strong position of the business, we believe this is the right time to make the changes, which will strengthen the organisation even further,” said Beer.

Innovations such as the superstore OPSM eye hub have helped give the brand a market-leading position, he said.

“We’ve also launched mobile stores and intensified our investment in optometrist training. In addition, over the next 24 months, we have committted $20 million on leading edge eye disease detection equipment exclusive to OPSM in the Australian and New Zealand markets.”