Lentesplus accelerates its expansion to glasses and omnichannel strategy through the acquisition of LIVO, backed by a...
SO PAULO, July 20, 2024 /PRNewswire/ --LIVO, the most recognized eye fashion brand in Brazil, will now be expanded to the rest of LATAM through the conversion of the Lentesplus brand to LIVO in Colombia, Mexico, Chile and Argentina. Lentesplus is also backed by Ronaldo Pereira Jr, who led the expansion of Oticas Carol from 170 to 1320 stores in Brazil.
Lentesplusis the leading omnichannel eyecare player in Latin America. Founded by Jaime Oriol and Diego Mario, who met while studying for their MBAs at Wharton, they saw a great opportunity to disrupt the eyecare industry in LATAM where there are more than 360 million possible customers.
Lentesplus' mission is to democratize and facilitate access to visual healthcare. The market is estimated at 11 Bn USD and is expected to grow to 15 Bn USD by 2027, driven by a combination of (i) increased aging population, (ii) increased disposable income, (iii) increased awareness of visual correction problems and (iv) increased screen time.
Already present in Colombia, Chile, Mexico and Argentina, Lentesplus recently acquired the leading independent online contact lens player in Brazil, Newlentes, effectively doubling Lentesplus' addressable market and doubling Brazil sales since its acquisition in less than 6 months.
LIVOis the most recognizable brand for eyewear fashion in Brazil. Founded in 2012, it was Brazil's first Digitally Native Vertical Brand in its sector, with its strong brand awareness and quality products, rapidly drove outsized attention from fashion influencers and press. LIVO currently operates 12 stores located in prestigious shopping areas of So Paulo, Santa Catarina and Rio Grande do Sul. With this acquisition, Lentesplus plans to bring the LIVO brand to the main LATAM markets and expand its current store footprint exponentially in the next four years.
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