Pearle Vision

Last updated
Pearle Vision
Company type Subsidiary
Industry Eye care
Founded1961;63 years ago (1961)
FounderStanley Pearle
Headquarters Mason, Ohio, United States [1]
Products Eyewear, glasses, sunglasses
Parent Grand Metropolitan (1985–1996)
Cole National (1996–2004)
Luxottica (2004–2018)
EssilorLuxottica (2018-present)
Website pearlevision.com

Pearle Vision is an American chain of eye care stores. It is one of the largest franchised optical retailers in North America. The company was acquired by Luxottica (which has since merged with Essilor to form EssilorLuxottica), [2] an Italian eyewear company, in 2004. As of December 31, 2018, Pearle Vision operated 110 corporate stores and had 419 franchises throughout North America. [3]

Contents

History

It was founded in 1961 by Stanley Pearle, an optometrist in Savannah, Georgia, United States. In 1971, Pearle purchased a 17-store optical chain owned by Robert Hillman and Larry Kohan; together, Hillman and Kohan stayed on and helped to expand Pearle Vision nationwide. [4] By the 1970s the chain was owned by G. D. Searle Pharmaceutical, with founder Stanley Pearle serving as a board member.[ clarification needed ][ citation needed ]

Stanley Pearle sold his stores to British conglomerate Grand Metropolitan in 1985. [4] Grand Met expanded Pearle Vision to more than 1,000 locations worldwide by 1990, but profits became elusive. In 1996, Grand Met sold the Pearle stores in the United States, Canada and Puerto Rico to Cole National Corporation, which operated optical departments inside such retail stores as Sears, BJ's Wholesale Club and Target. [5] In 1997 Cole National bought the 150-store NuVision chain in Michigan and converted them to the Pearle Vision name. [6] The Belgian stores were sold to GIB in Belgium and the Dutch stores to HAL Investments in the Netherlands. HAL Investments bought the Belgian stores 1 year later from GIB and merged both chains into Pearle Benelux.

A photo of Pearle in Boxmeer,Netherlands Pearle Boxmeer.JPG
A photo of Pearle in Boxmeer,Netherlands

Luxottica, owner of LensCrafters, purchased Cole National in 2004, a deal that brought together the two largest eyewear retailers in the United States. [7]

The Pearle chain of opticians in Europe is now part of Grandvision and has more than 1000 branches in 43 countries including the Netherlands (pearle.nl), Belgium, Germany (Apollo-Optik), Austria (pearle.at), Poland, Portugal, Italy, Finland and Estonia. For more than 40 years the company has been selling branded products and products under its own brand name.[ citation needed ]

The first Pearle Optical store in the Middle East opened in Marina Mall, Kuwait, on January 15, 2003, and currently operates 18 stores in the Middle East: 4 in Kuwait, 10 in KSA, 3 in UAE, 5 in Egypt and 1 in Qatar.

Pearle Vision store, Revere Massachusetts Pearle Vision.JPG
Pearle Vision store, Revere Massachusetts

The company's operations in California are affected by consumer protection statutes designed to protect consumers from Pearle's operations with optometrists and opticians in the same store, which presents a conflict of interest under California consumer law. On June 12, 2006, the Supreme Court of California ruled that Pearle Vision could not escape the reach of those statutes, and Pearle Vision's attempts to find a loophole through the Knox-Keene Health Care Service Plan Act of 1975 were unavailing. [8] [9]

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References

  1. ↑ "Privacy & Security". Pearle Vision. 1 January 2020. Retrieved 9 August 2020.
  2. ↑ "Essilor to Buy Ray-Ban Maker Luxottica for About $24 Billion". Bloomberg.com. 2017-01-15. Retrieved 2023-08-14.
  3. ↑ "Pearle Vision".
  4. 1 2 "Pearle Vision, Inc. History". Funding Universe. Retrieved January 5, 2018.
  5. ↑ "Encyclopedia of Cleveland History: Cole National Corp". Case Western Reserve University . Retrieved January 5, 2018.
  6. ↑ Standard & Poor's Creditweek - Google Books. 2011-02-23. Retrieved 2013-08-28.
  7. ↑ "Italy's Luxottica Agrees to Pay $441 Million for Cole National". The Wall Street Journal . January 27, 2004. Retrieved January 5, 2018.
  8. ↑ Bloomberg News (13 June 2006). "Pearle Vision Found to Violate Consumer Law". Los Angeles Times. Retrieved 10 August 2020.
  9. ↑ People v. Cole, 38 Cal. 4th 964 (2006).
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