Local Entrepreneur Becomes Pearle Vision Licensee In Ohio

MASON, Ohio, July 11, 2014 /PRNewswire/ -- Pearle Vision, one of North America's largest and most trusted licensed optical brands, is proud to announce it has signed an agreement with Bill Noble to assume ownership of 10 locations throughout Ohio. The locations were formerly corporate-owned, serving the areas of Centerville, North Randall, Columbus, Dublin, Cuyahoga Falls, North Olmsted, Hamilton, Gahanna and Grove City over the past several years. The specific locations include:

• 101 Alex-Ball Rd., Suite 120, Centerville
• 4836 Northfield Rd., North Randall
• 1150 Polaris Pkwy, Columbus
• 3948 Morse Crossing, Columbus
• 5043 Tuttle Crossing Blvd., Suite 238, Dublin
• 796 Howe Ave., Cuyahoga Falls
• 25102 Brookpark Rd., #126, North Olmsted
• 3373 Princeton Rd., #121, Hamilton
• 368 S Hamilton Rd., Gahanna
• 1584 Stringtown Rd., Grove City

"I'm excited to join the Pearle Vision family as a first-time licensee," said Noble. "This is just the beginning for my partners and I, as we plan to open several additional locations in the next three to five years. We look forward to serving the state of Ohio for many years to come and will continue to provide our patients with the absolute best in eye care."

Noble, a proud graduate of the West Point Military Academy and a former UH–60A Blackhawk pilot, has an extensive background in retail, specifically in operations, and has worked for well-known brands including The Limited, Toys-R-Us, Wal-Mart, Lord & Taylor, Famous Footwear and Luxottica. It was the support of Pearle Vision's leadership team that encouraged Noble to make the leap into the franchise world and assume ownership of multiple Pearle Vision locations throughout Ohio. Noble, along with his five partners, William Currence, Dr. Gretchen Brewer, Dave Kunselman, Rick Minicozzi and Darold Londo, are eager to see the brand flourish and grow and look forward to carrying out the success of Pearle Vision throughout Ohio.

"We are thrilled that Bill Noble and his partners have taken over operations at these 10 locations and trust that his extensive business background will translate into success for these Pearle Vision centers," said Tammy Reaves, vice president of licensing and development at Pearle Vision. "This transaction lends itself to Pearle Vision's aggressive plans to convert corporate-owned neighborhood eye care centers to licensees. We continue to seek entrepreneurs, optometrists and eye care professionals, who have a desire to serve their communities to join our growing network of licensed operators."

Pearle Vision has a significant legacy in the industry and has continued to outpace competitors by evolving to meet patients' changing needs and providing quality products and services they desire. With 600 centers located throughout North America, the company offers best-in-class eye care provided by neighborhood doctors who are skilled optometrists, a principle created by Dr. Stanley Pearle in 1961. Most recently, Pearle Vision ranked #112 in Entrepreneur's 2014 Franchise 500, making a 48-point increase from the 2013 ranking.

Pearle Vision is now seeking to grow its national footprint and has development opportunities, including existing centers with established customer bases, in markets from coast-to-coast. To fuel further growth, the company is looking for optometrists interested in licensing opportunities. Ideal candidates for Pearle Vision ownership should possess a desire to join a trusted industry-leading brand and work within a proven system to provide exceptional eye care and superior patient service. Pearle Vision licensees can expect their initial investment to build a new center to cost approximately $225,000 to $275,000, in addition to a licensing fee of $30,000.

Optometrists interested in exploring re-licensing or new development opportunities should call 1.800.PEARLE.1 or visit http://licensing.ownapearlevision.com.

About Pearle Vision

Pearle Vision was founded in 1961 by Dr. Stanley Pearle, who began the concept of one-stop, total eye care with the opening of the Pearle Vision Center in Savannah, Ga. Pearle combined complete eye exams with an extensive selection of eyewear. In 1981, Pearle Vision began offering licenses to select doctors and opticians. Today, with 600 eye care centers throughout the United States, Pearle Vision is built around a doctor-centered business model with a primary focus to deliver genuine eye care to patients and become a trusted source for all their eye health needs. Pearle Vision is owned by Luxottica, a leader in premium fashion, luxury and sports eyewear. For more information, visit http://www.PearleVision.com.

Luxottica Group S.p.A.

Luxottica Group is a leader in premium, luxury and sports eyewear with over 7,000 optical and sun retail stores in North America, Asia-Pacific, China, South Africa, Latin America and Europe, and a strong, well-balanced brand portfolio. Proprietary brands include Ray-Ban, the world's most famous sun eyewear brand, Oakley, Vogue Eyewear, Persol, Oliver Peoples, Alain Mikli and Arnette while licensed brands include Giorgio Armani, Bulgari, Burberry, Chanel, Coach, Dolce & Gabbana, Donna Karan, Polo Ralph Lauren, Prada, Starck Eyes, Tiffany and Versace. In addition to a global wholesale network involving 130 different countries, the Group manages leading retail chains in major markets, including LensCrafters, Pearle Vision and ILORI in North America, OPSM and Laubman & Pank in Asia-Pacific, LensCrafters in China, GMO in Latin America and Sunglass Hut worldwide. The Group's products are designed and manufactured at its six manufacturing plants in Italy, two wholly owned plants in the People's Republic of China, one plant in Brazil and one plant in the United States devoted to the production of sports eyewear. In 2013 Luxottica Group posted net sales of more than Euro 7.3 billion. Additional information on the Group is available at www.luxottica.com.

Safe Harbor Statement

Certain statements in this press release may constitute "forward looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Such statements involve risks, uncertainties and othefactors that could cause actual results to differ materially from those which are anticipated. Such risks and uncertainties include, but are not limited to, the ability to manage the effects of the current uncertain international economic outlook, the ability to successfully acquire and integrate new businesses, the ability to predict future economic conditions and changes to consumer preferences, the ability to successfully introduce and market new products, the ability to maintain an efficient distribution system, the ability to achieve and manage growth, the ability to negotiate and maintain favorable license agreements, the availability of correction alternatives to prescription eyeglasses, fluctuations in exchange rates, changes in local conditions, the ability to protect intellectual property, the ability to maintain relations with those hosting our stores, computer system problems, inventory-related risks, credit and insurance risks, changes to tax regimes as well as other political, economic and technological factors and other risks and uncertainties referred to in Luxottica Group's filings with the U.S. Securities and Exchange Commission. These forward looking statements are made as of the date hereof and Luxottica Group does not assume any obligation to update them.

MEDIA CONTACTS:
Andie Biederman954-893-9150
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Emily Ryan513-765-3358
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SOURCE Pearle Vision