Bright Eyes Sunglasses

Bright Eyes Sunglasses is a company that was established in Cairns, Queensland, Australia, by Robert and Antonina (Ann) Johnstone, in 1985.^[1] By 1995, the chain included 115 stores.^[1] In 1997 the franchise was sold to Ian Thomas, a Cairns property developer. Ian Thomas reduced the stores from 112 to 85 removing the unprofitable stores strengthening the brand and growing the gross profit of the group by 50%.^{[citation needed]}

In 2000, Bright Eyes was sold to a consortium of three businessmen: Geoff Harbert, Graham Bradshaw, and Ralph Edwards.^[1] By 2003, 10 franchise stores and 19 company-owned stores.^[1] The full chain's 2003 turnover reached A$6.7 million.^[1] Harbert stated in 2004 that some stores were expanding their product lines, in order to remain profitable.^[2]

The company having grown to 155 stores, 1/3 of which company run, eventually came under the control of Oakley, Inc.,^[3] which was itself purchased by Luxottica in 2007, transferring ownership of the chain to Luxottica.^[3] The takeover resulted in Luxottica becoming "by far the biggest eyewear chain in Australia."^[4]

In 2008 Luxottica having reduced the business to 47 stores, sold the business back to business partners Ralph Edwards and Geoff Harbert.

References

^ ^a ^b ^c ^d ^e Walker, Jacqui (October 23, 2003). "Back in the sun". Australasian Business Intelligence. Archived from the original on October 11, 2014. Retrieved April 29, 2012.
^ "Fashion accessories: undercut and overexposed". Australasian Business Intelligence. May 12, 2004. Archived from the original on October 11, 2014. Retrieved April 30, 2012.
^ ^a ^b Shankar, Vivek & Forden, Sara Gay (June 21, 2007). "Luxottica, Oakley Shares Rise on $2 Billion Purchase (Update5)". Bloomberg. Retrieved April 30, 2012.
^ White, Lyn (February 20, 2008). "Luxottica to absorb Bright Eyes". Australasian Business Intelligence. Archived from the original on October 29, 2014. Retrieved April 30, 2012.

External links

Official website

[abix-back-1] Walker, Jacqui (October 23, 2003). "Back in the sun". Australasian Business Intelligence. Archived from the original on October 11, 2014. Retrieved April 29, 2012.

[abix-expand-2] "Fashion accessories: undercut and overexposed". Australasian Business Intelligence. May 12, 2004. Archived from the original on October 11, 2014. Retrieved April 30, 2012.

[bberg-oak-lux-3] Shankar, Vivek & Forden, Sara Gay (June 21, 2007). "Luxottica, Oakley Shares Rise on $2 Billion Purchase (Update5)". Bloomberg. Retrieved April 30, 2012.

[abix-absorb-4] White, Lyn (February 20, 2008). "Luxottica to absorb Bright Eyes". Australasian Business Intelligence. Archived from the original on October 29, 2014. Retrieved April 30, 2012.

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