Specsavers enters NZ market

Published: 8:48PM Wednesday November 26, 2008 Source: ONE News

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If you wear glasses and you're sick of paying too much for them, change is on the way.

New Zealand's $300 million optical industry is in for a shake-up with the arrival of a big new global player.

They're the world's largest privately-owned optical group and Specsavers has big plans for the local market.

"Well this is the first day of the optical revolution in New Zealand," says Doug Perkins, Specsavers co-founder.

Perkins and his wife started Specsavers 24 years ago.

Now there are 1,100 franchised stores in nine countries, with annual turnover of $3 billion.

Perkins says the days of paying $600 dollars for prescription glasses in New Zealand are over.

"Many optometrists visiting New Zealand can't believe that people are paying that for one pair. So we're delivering two pairs, including the lenses," he says.

Analysts say the two-for-one deal, plus an entry level price of just $129 will be a winner.

The economy's slowing, people are feeling the pinch in their pocketbook, and here's a chance to get your eyeglasses for a little bit cheaper. So I think they're probably going to do very well in the current climate," says Tim Morris, Coriolis Research Analyst.

Specsavers opens its first six stores next week in Auckland, Lower Hutt, Christchurch and Nelson, and plan to have 30 outlets by this time next year.

One of their major competitors is Visique, with 90 stores, and they are not worried about global competition.

"Whilst I think there'll be an impact, I think there's still a really great space for professional optometry dealt with by small groups like us really," says Michelle Lawson, Visique general manager.

As one of Specsavers' first Kiwi partners, Tracey Thompson says customers can expect a professional service.

"I'm able to give my patients what I want to give them on the chair and yet give them the best retail value as well," she says.

And Specsavers global buying power means that spectacle prices are going only one way - down.

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