Inspecs buys into US optical retail market

The 300-practice chain closed its stores earlier this year after a bankruptcy filing and Inspecs took on 20 outlets in key mall locations in Colorado, Arizona, Washington and Oregan, along with one in Journo, Alaska.
Inspecs' Robin Totterman said: 'Vista was a client which ran into trouble some months ago. It was placed into receivership and we ended up employing its operations director, Mike Keating, and making a bid for the company.'
Totterman registered the Specs in the City domain name two years ago, but did not have an application for it until now.
'We have been looking at ways to maintain and expand our distribution worldwide and America is an obvious market for us to crack with our strong Anglo-Saxon brands.'
He said that the US market was a difficult one to break into and the outlets with large client bases would act as showrooms for its product. 'Distribution is phenomenally tough if you are not a blue-blooded US company.'
There will be 100 employees, comprising practice staff and back office support, with 20 per cent original team members.
As well as the undisclosed purchase price, there was a significant investment in equipping and developing the stores, he said.
'We are confident in our acquisition as we know from previous financials that the business had the potential to be very successful.'
Inspecs had identified a product mix to suit the mall stores, with clarity on the ratio of private label and branded stock Ð 70 per cent Inspecs' stock and 30 per cent externally-sourced product. Private label expertise through work with US and European chains made the exercise easier and more cost-effective.
When asked if Inspecs planned a similar UKventure, Totterman said there was no need. 'We have very good customer relationships and distribution in the UK, but we are now exploring options in Central and East European locations.'
rory.broganrbi.co.uk
Frame supplier Inspecs has purchased 20 outlets in the failed US group Vista Optical and renamed them 'Specs in the City'.
The 300-practice chain closed its stores earlier this year after a bankruptcy filing and Inspecs took on 20 outlets in key mall locations in Colorado, Arizona, Washington and Oregan, along with one in Journo, Alaska.
Inspecs' Robin Totterman said: 'Vista was a client which ran into trouble some months ago. It was placed into receivership and we ended up employing its operations director, Mike Keating, and making a bid for the company.'
Totterman registered the Specs in the City domain name two years ago, but did not have an application for it until now.
'We have been looking at ways to maintain and expand our distribution worldwide and America is an obvious market for us to crack with our strong Anglo-Saxon brands.'
He said that the US market was a difficult one to break into and the outlets with large client bases would act as showrooms for its product. 'Distribution is phenomenally tough if you are not a blue-blooded US company.'
There will be 100 employees, comprising practice staff and back office support, with 20 per cent original team members.
As well as the undisclosed purchase price, there was a significant investment in equipping and developing the stores, he said.
'We are confident in our acquisition as we know from previous financials that the business had the potential to be very successful.'
Inspecs had identified a product mix to suit the mall stores, with clarity on the ratio of private label and branded stock Ð 70 per cent Inspecs' stock and 30 per cent externally-sourced product. Private label expertise through work with US and European chains made the exercise easier and more cost-effective.
When asked if Inspecs planned a similar UKventure, Totterman said there was no need. 'We have very good customer relationships and distribution in the UK, but we are now exploring options in Central and East European locations.'
rory.broganrbi.co.uk
Frame supplier Inspecs has purchased 20 outlets in the failed US group Vista Optical and renamed them 'Specs in the City'.
The 300-practice chain closed its stores earlier this year after a bankruptcy filing and Inspecs took on 20 outlets in key mall locations in Colorado, Arizona, Washington and Oregan, along with one in Journo, Alaska.
Inspecs' Robin Totterman said: 'Vista was a client which ran into trouble some months ago. It was placed into receivership and we ended up employing its operations director, Mike Keating, and making a bid for the company.'
Totterman registered the Specs in the City domain name two years ago, but did not have an application for it until now.
'We have been looking at ways to maintain and expand our distribution worldwide and America is an obvious market for us to crack with our strong Anglo-Saxon brands.'
He said that the US market was a difficult one to break into and the outlets with large client bases would act as showrooms for its product. 'Distribution is phenomenally tough if you are not a blue-blooded US company.'
There will be 100 employees, comprising practice staff and back office support, with 20 per cent original team members.
As well as the undisclosed purchase price, there was a significant investment in equipping and developing the stores, he said.
'We are confident in our acquisition as we know from previous financials that the business had the potential to be very successful.'
Inspecs had identified a product mix to suit the mall stores, with clarity on the ratio of private label and branded stock Ð 70 per cent Inspecs' stock and 30 per cent externally-sourced product. Private label expertise through work with US and European chains made the exercise easier and more cost-effective.
When asked if Inspecs planned a similar UKventure, Totterman said there was no need. 'We have very good customer relationships and distribution in the UK, but we are now exploring options in Central and East European locations.'
rory.broganrbi.co.uk