Heard it from a very, very good source.
Man!
Heard it from a very, very good source.
Man!
Yup, it was on a VMail message late last night.
Oakley Press Release.............................
Press ReleaseOriginally Posted by drk
March 14, 2006, 5:35PM
(PZ) Oakley Agrees to Acquire The Optical Shop of Aspen
14 Retail Locations Cater to Luxury Eyewear Market
© 2006 PRIMEZONE
FOOTHILL RANCH, Calif., March 14, 2006 (PRIMEZONE) -- Oakley, Inc. (NYSE:OO) today announced it has signed a definitive agreement to acquire all of the outstanding stock of privately held OSA Holding, Inc. and its wholly owned subsidiary, The Optical Shop of Aspen (OSA), one of the world's most respected retailers of luxury eyewear. Included in this acquisition are The Optical Shop of Aspen's 14 retail locations.
"Oakley has established a renewed focus on optics and is implementing strategies to build business platforms for sustainable growth and profitability," said Scott Olivet, chief executive officer, Oakley, Inc. "The Optical Shop of Aspen, along with our recent acquisition of Oliver Peoples, strengthens our premium eyewear platform. In addition, OSA will help build Oakley's prescription eyewear business and further develop the company's retail capabilities."
"OSA is one of the country's most prestigious optical retail chains, known for its unique first-class products and exceptional service," said Cos Lykos, vice president of business development, Oakley, Inc. "This acquisition provides us with direct access to the premium eyewear consumer and we are very excited to add The Optical Shop of Aspen's premier eyewear destinations to our retail lineup."
"For more than 30 years we have cultivated a loyal consumer following based on innovative eyewear collections, outstanding customer service and unique retail environments," said Larry Sands, founder and chief executive officer, The Optical Shop of Aspen. "I am passionate about the success of our business. I care about my employees, their future and the future of this brand. I am confident this partnership will help elevate OSA to new heights and allow us to realize the significant opportunities before us."
The Optical Shop of Aspen currently has 14 retail stores located in Arizona, California, Colorado, Florida, New Mexico and Missouri, and will operate as a wholly owned subsidiary of Oakley, Inc. After the completion of the merger, Sands will continue as chief executive officer of OSA and maintain independent ownership and operation of OSA International, a separate wholesale company.
Specific terms of the agreement were not disclosed. The company expects the acquisition to be closed during the second quarter of 2006. Oakley expects the acquisition to be slightly accretive to earnings in 2006.
About The Optical Shop of Aspen
Headquartered in Aliso Viejo, CA, The Optical Shop of Aspen was founded in 1970 by Larry Sands who sought to define eyewear as a high-end fashion accessory. The Optical Shop of Aspen stocks its stores with innovative, high-end labels such as Cartier, Chanel, Christian Dior, Chrome Hearts, Oakley, Oliver Peoples and Paul Smith. Optical Shop of Aspen International, the company's wholesale division, designs, distributes and owns the licenses to the Blinde, Chrome Hearts, Hiero, Kieselstein-Cord and Matsuda eyewear brands. Under the direction of Optical Shop of Aspen International's in-house design team, each collection pushes the boundaries of technology and style, further bringing the concept of 'luxury' to eyewear. For more information on OSA's retail stores and eyewear collections, please visit http://www.osainternational.com/web/...-corp-top.html.
I worked for OSA for a few years-they have good stuff! This is interesting to me. First Oliver Peoples, now OSA....guess that leaves Davante and Optica?
Good for Larry, he worked his @ss off for years. Now he can live even more of the good life. I am sure he is somewhere smoking a very good cigar and celebrating!
Let the refining and improving of your own life keep you so busy that you have little time to criticize others. -H. Jackson Brown Jr.
If the only tool you have is a hammer you will approach every problem as though it were a nail
They bought Optica already!
Karen
I received a call from Larry Tuesday right after the press release. He was very pleased and looking forward to the new venture. He and the store managers did party a little Tuesday night and I am sure he had more than one of those good cigars.
Jerry
Tony only sold 6 optica stores to Oakley...but maybe he's just holding out for more $$$$$$$
absolutely NOBODY makes any profit on luxury designer frames, especially those from LUXOTTICA. (Chanel, Prada, Ferragamo Versace, Dolce & Gabbana).
Quick somebody call Larry and tell him what a fool he has been for supporting his competition (and actually carrying products the public wanted) and GASP making luxury sunglasses a primary focus in his optical shops.
Rep
I just want to know if Michi is still there.
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