OPSM

OPSM
ASX: OPS
Founded1932
Headquarters
North Sydney
,
Australia
Area served
Australia, New Zealand
OwnerEssilorLuxottica
DivisionsBudget Eyewear
Laubman & Pank
OPSM
Ray-Ban Optical
Websitewww.opsm.com.au Edit this at Wikidata

OPSM (Optical Prescription Spectacle Makers) is a retailer of eye glasses in Australia and New Zealand, with locations in Hong Kong, Singapore, and Malaysia. It is owned by EssilorLuxottica, a French-Italian eyewear conglomerate.

OPSM's CEO since October 2020 is Matteo Accornero.

History

OPSM was founded in Sydney in 1932, and was floated on the Australian Securities Exchange in 1962.[1] In May 2001, OPSM sold its Protector Safety Supply Group to Howard Smith.[2] Luxottica acquired a controlling interest in 2003 and in February 2005, OPSM was delisted from the Australian Securities Exchange.[3][4][5]

In 2010, OPSM opened the Eye Hub concept store in the Melbourne suburb of Hawthorn, blending optometry and ophthalmology into one practice.[6] As to 2018, it operated 330 stores and 41 franchises.[7]

Laubman & Pank

Laubman & Pank became at one stage the largest eye care business in Australia.[8] It began operations in 1908 with two optometrists deciding to set up their own business.[8] The group was acquired by OPSM in 2001 and is now run by Luxottica, the world's biggest eye care and eye wear conglomerate.[8] Laubman & Pank has 38 stores in Australia.[9]

Hong Kong

LensCrafters 高登眼鏡 in Hong Kong in 2008

OPSM acquired The Optical Centre[10] (Chinese: 藝視眼鏡) from Michael Miu in 2002.[11] At that time OPSM also owned another Hong Kong–based chain The Optical Shop [zh] (known in Chinese under the brand 高登眼鏡).[11] 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
  2. ^ To Acquire Protector Safety Supply Group for $60m Howard Smith 21 May 2001
  3. ^ Luxottica Group reaches 98.5 percent holding in OPSM Group, starts compulsory acquisition of all remaining shares Luxottica
  4. ^ Clegg, Brett (3 May 2003). "Luxottica sees a bargain in OPSM". Australian Financial Review. Retrieved 10 May 2020.
  5. ^ Suspension and Removal from Official Quotation Australian Securities Exchange 13 February 2005
  6. ^ "Luxottica eyes augmented growth". Executive Style. Retrieved 4 April 2020.
  7. ^ Annual Report 2018 Luxottica
  8. ^ a b c "Our Story | Eye Specialists | Laubman and Pank". www.laubmanandpank.com.au. Retrieved 12 December 2015.
  9. ^ "L&P - Our Story". www.laubmanandpank.com.au. Retrieved 4 April 2020.
  10. ^ "OPSM has a vision, but it's sited a long way off". The Age. 5 November 2002. Retrieved 10 May 2020.
  11. ^ a b 高登澳洲母公司購併藝視. 太陽報 [The Sun] (in Chinese (Hong Kong)). Hong Kong: Oriental Press Group. 21 September 2002. Retrieved 10 May 2020.