Essilor International acquires MyOptique Group

UK-based MyOptique Group, which operates six online optical and sunglasses brands, has entered into a definitive agreement to be acquired by French optical group Essilor International.

MyOptique has become a major online player across all eyewear categories including prescription glasses, contact lenses, and sunglasses in Europe, and has enjoyed double-digit growth over each of the last eight years.

It operates six online retail brands, Glasses Direct, SunglassesShop, LensOn, Lensbest, Eyewearbrands, and Netzoptiker, which have served three million customers and shipped over 280 million contact lenses and 7 million glasses and sunglasses.

Following the acquisition it will continue to operate as a standalone operation, while leveraging Essilor International’s global supply chain to “continue to grow its leading position in Europe,” a statement said.

MyOptique chief executive, Kevin Cornils said: “This transaction represents a major milestone for the MyOptique Group. Our new ownership provides a tremendous platform from which to continue to build a very successful business on our proven multi-category, multi-brand model. My management team and I are delighted by the opportunity afforded from becoming part of the Essilor family.”

MyOptique chairman Maurice Helfgott added: “The strong success of MyOptique in the European marketplace owes so much to its entrepreneurial founders, its smart and supportive investors and its visionary and talented management team led by Kevin Cornils.

“The business has achieved pan-European scale, is growing fast and had a number of strategic options for its next stage. Joining Essilor, the world leader in ophthalmic optics, was by far the most compelling one.”