Business, Company updates & acquisitions

Oscar Wylee enters Western Australia with two stores

Vision Direct has partnered with the World Wide Fund for Nature Australia (WWF-Australia) to trial a recycling program to repurpose ocean plastics into sunglasses.

The optical chain recently announced it is now operating stores at Perth’s Lakeside Shopping Centre, Joondalup City, and Westfield Carousel, Cannington, taking its nationwide store network to 58.Since launching seven years ago, Oscar Wylee has established 21 locations in New South Wales, 17 in Victoria, 14 in Queensland, two in South Australia and operates a single store in both Tasmania and ACT.

“From humble beginnings in 2012, Oscar Wylee has grown into a national chain of optometry stores,” said Mr Jack Teoh, who serves as the company’s co-CEO alongside Mr Bob Teoh. “We are a family run company that looks to the long term with a strong vision of continued growth and dedicated service to our customers.”

The company’s new Perth stores continues its rapid expansion in Australia’s optometric market which reamins dominated by Luxottica (324 OPSM stores, 39 Laubman & Pank) and Specsavers (330 Australian stores).

In recent times, Oscar Wylee has introduced a joint venture partnership model for experienced optometrists and optical dispensers to buy into a store and enter a profit share program. The scheme is designed to enable partners to leverage Oscar Wylee’s brand, supply chain infrastructure and extensive product range.

In announcing its expansion into the WA eyecare market, the company also sought to promote its I Care For Eyecare philanthropic initiative, which was the subject of controversy earlier this year.

“For every pair of frames purchased, a portion is donated to someone in need. Oscar Wylee works with established organisations such as Sight For All who are committed to supporting individuals and communities impacted by visual impairment,” the company press release stated.

An investigation by Insight in February uncovered a number conflicting and unsubstantiated marketing claims pertaining to Oscar Wylee’s philanthropic work. It also called into question a number of other marketing statements related to its I Care For Eyecare initiative, as well as partnerships with charitable organisations.

Insight’s report prompted the company to overhaul its website and rove some of its marketing claims, however company representatives have since rained silent on the issue.

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