Essilor acquires online eyewear retailer MyOptique MyOptique, a European eyewear retailer, has been acquired by French l

Essilor acquires online eyewear retailer MyOptique MyOptique, a European eyewear retailer, has been acquired by French lens maker Essilor International in a deal worth about 鈧?40 million ($158 million), but this figure has not been officially confirmed. As a result of this transaction, MyOptique will be able to leverage Essilor's global supply chain to expand its business operations.

At the same time, Essilor will also advance its online business into the Central European market through this acquisition, better creating a "multi-category and multi-brand model" MyOptique has raised approximately 55 million euros over its 11-year operation. Due to the impact of Brexit on the exchange rate, the amount is equivalent to about $71 million. While we know that the acquisition is a foregone conclusion, Brexit did have a little bit of an impact on it, making the British company more willing to be bought by a company that is also European.

MyOptique has reportedly generated 鈧?6 million in annual revenue since its inception in 2005, and companies that have profited from its investments include Index Ventures Highland Europe, Acton Capital Partners, Beringea, Cipio Partners and Korys.

Fergal Mullen of Highland Europe says it has taken a lot of time for MyOptique to grow to the size he is happy with since the investment in 2007, but he also says that in e-commerce, the retail of eyewear is one of the most difficult projects to do 鈥?not only because it is not only a matter of aesthetics and prescription, but also highly dependent on the buyer's own preferences.

"Just like any e-commerce, you have to get bigger and make a profit before anyone else sees an opportunity." He added. "It's done very well, and they're getting involved in selling all kinds of eyewear in Europe, from traditional contact lenses to fashion glasses...... It's really a legend, a legend of Europeans. The two companies announced today that there will be no replacement of MyOptique executives after the acquisition. The company will continue to operate under its original brand 鈥?it will leverage Essilor's global supply chain and commercial operations to better develop the European market. Maurice Helfgott, chairman of MyOptique, said that the net, the well-known brand Essilor.