Innova to take up 100% of shares in Optical Network
Innova to take up 100% of shares in Optical Network, one of the biggest players on the Romanian retail and distribution optical markets.
Optical Network was set up in 2004 and is currently the #1 player in the Romanian optical retail market. It operates a nationwide network of 55 stores under two banners: OPTIblu that is offering a premium range of products and Klarmann that has a more budget proposition. Currently the network includes 37 stores under the OPTIblu banner and 18 Klarmann stores.
Through its retail business, the company provides a diverse and balanced portfolio of superior quality products, including prescription glasses, contact lenses, sunglasses and eye care accessories.
Optical Network’s retail operations are complemented by its distribution activities that are based on well-established relations with local optical stores and an attractive portfolio of brands and products. The company operates also two ecommerce stores in Romania as part of its omnichannel approach to customers (www.conga.ro and www.optiblu.ro).
Innova will follow through with plans for further development of Optical Network, including ongoing improvement of the product offering and customer experience as well as expansion of the current retail network and distribution business.
More detailed information on the strategy and future plans of the fund in this sector will be presented once the transaction has been finalised, which will follow after the approval of transaction by the Competition Council.
About Optical Network
Optical Network is the leading retailer and an important distributor on the Romanian optical market. Founded in 2004, the company provides a large variety of high quality eyecare products and services. The company has over 50 stores well-spread across the country operating under OPTIblu and Klarmann banners. Its retail operations are complemented with distribution and ecommerce activity.