OPSM

OPSM (Optical Prescription Spectacle Makers) is a retailer of eye glasses in Australia and New Zealand, with locations in Hong Kong, Singapore, and Malaysia as well. The company was founded in Sydney in 1932, and publicly listed in 1962.[1] Italian eyewear giant Luxottica acquired a controlling interest in 2003.[2][3] At that time the company operated 461 stores under three brands (OPSM, Laubman & Pank, Budget Eyewear) in Australia, 35 stores in New Zealand (where they were market leader), 75 stores in Hong Kong and 12 in Singapore (under the Optical Shop brand), and 12 in Malaysia.[4] In 2010[5], OPSM opened the Eye Hub concept store in Hawthorn, Victoria[6]. In July 2003, the Italian Luxottica Group purchased all OPSM shares[7] and in February 2005 it delisted OPSM Group shares from the Australian Stock Exchange.[8]

OPSM
Native name
Luxottica Retail Australia Pty Limited
Subsidiary of Luxottica
Founded1932
HeadquartersSydney, Australia
Area served
Australia, New Zealand, Singapore, Malaysia, Hong Kong
Brands
  • OPSM
  • Laubman & Pank
  • Budget Eyewear
OwnerLuxottica Group S.p.A.
Websiteopsm.com.au

OPSM operates 400 stores in Australia and New Zealand.[9]

Laubman & Pank

Laubman & Pank became at one stage the largest eye care business in Australia.[10] It began operations in 1908 with two optometrists deciding to set up their own business.[10] The group was acquired by OPSM in 2001 and is now run by Luxottica, the world's biggest eye care and eye wear conglomerate.[10] Laubman & Pank has 38 stores in Australia.[11]

Hong Kong
LensCrafters 高登眼鏡 in Hong Kong in 2008

OPSM acquired The Optical Centre[12] (Chinese: 藝視眼鏡) from Michael Miu in 2002.[13] At that time OPSM also owned another Hong Kong based chain The Optical Shop (known in Chinese under the brand 高登眼鏡).[13] Nowadays Luxottica group runs the Hong Kong chain under dual-brand LensCrafters 高登眼鏡. It also used the brand Sunglass Hut.

References
  1. "Our Story". OPSM. Retrieved 5 December 2019.
  2. "Luxottica Group reaches 98.5 percent holding in OPSM Group, starts compulsory acquisition of all remaining shares". Luxottica. Retrieved 5 December 2019.
  3. Clegg, Brett (3 May 2003). "Luxottica sees a bargain in OPSM". The Australian Financial Review. Retrieved 10 May 2020.
  4. André Sammartino (2007), 'Retail’, in Dick, H. & Merrett, D. (eds.), The Internationalisation Strategies of Small-Country Firms: The Australian Experience of Globalisation, Edward Elgar: Cheltenham, UK, pp.175-194.
  5. "World First: The Eye Hub Unveiled". Mivision. Retrieved 4 April 2020.
  6. "Luxottica eyes augmented growth". Executive Style. Retrieved 4 April 2020.
  7. ACCC Merger Register
  8. Australian Stock Exchange Announcement
  9. "OPSM eyes flexible franchising model". The Sydney Morning Herald. Retrieved 12 December 2015.
  10. "Our Story | Eye Specialists | Laubman and Pank". www.laubmanandpank.com.au. Retrieved 12 December 2015.
  11. "L&P - Our Story". www.laubmanandpank.com.au. Retrieved 4 April 2020.
  12. "OPSM has a vision, but it's sited a long way off". The Age. 5 November 2002. Retrieved 10 May 2020.
  13. 高登澳洲母公司購併藝視. 太陽報 [The Sun] (in Chinese). Hong Kong: Oriental Press Group. 21 September 2002. Retrieved 10 May 2020.
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