OPSM

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OPSM
Native name
Luxottica Retail Australia Pty Limited
subsidiary of Luxottica
Founded 1932
Headquarters Sydney, Australia
Area served
Australia, New Zealand, Singapore, Malaysia, Hong Kong
Services OPSM, Laubman & Pank, Budget Eyewear
Owner Luxottica Group S.p.A.
Website www.opsm.com.au

OPSM (Optical Prescription Spectacle Makers) used to be the largest[citation needed] 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 1953. Italian eyewear giant Luxottica acquired a controlling interest in 2003. 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.[1] Recently,[when?] OPSM opened a flagship store in Hawthorn, Victoria called 'Eyehub', bridging the gap between optometry and ophthalmology.[citation needed]

In July 2003, the Italian Luxottica Group purchased all OPSM shares[2] and in February 2005 it delisted OPSM Group shares from the Australian Stock Exchange.[3]

OPSM operates 400 stores in Australia and New Zealand. [4]

Laubman & Pank[edit]

It began operations in 1908 with two optometrists deciding to set up their own business.[5] Laubman & Pank became at one stage the largest eye care business in Australia.[5] The group was acquired by OPSM in 2001 and is now run by Luxottica, the world’s biggest eye care and eye wear conglomerate.[5] Laubman & Pank has 55 stores in Australia. [5]

References[edit]

  1. ^ 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.
  2. ^ ACCC Merger Register
  3. ^ Australian Stock Exchange Accouncement
  4. ^ "OPSM eyes flexible franchising model". The Sydney Morning Herald. Retrieved 2015-12-12. 
  5. ^ a b c d "Our Story | Eye Specialists | Laubman and Pank". www.laubmanandpank.com.au. Retrieved 2015-12-12. 

External links[edit]