The Company enters the year as the dominant player in the luxury segment across Canada with 13 locations in Quebec City and the greater Montreal, Toronto and Vancouver metro areas.
In March, the Company closes the previously announced acquisition of Miami based Edward Beiner with 12 locations across key premium markets in Florida.
The Company continues its Canadian roll-up consolidation strategy and also announces the Edward Beiner transaction. At year-end, the Canadian store network reaches 378.
In May, the Company launches hearing care initiatives on a pilot project basis in certain of its retail optical locations in Quebec, Ontario, British Columbia and Nova Scotia.
In August, the Company announces its leading edge bespoke eyewear initiative with an investment in and working relationship with Topology, a San Francisco based leader in the field as part of its newly launched Omni Channel strategy.
At year-end, the Company's laboratory and distribution centre at Ville St Laurent, Quebec was the largest in the Canadian industry.
For the year, the Company reported strong operating and financial results. Since the launch of its pan Canadian strategy in 2013, the Company's annual compound growth rate in revenues and in adjusted earnings before interest, depreciation and income taxes has been 22% and 23% respectively.
The Company focuses on integration of previous acquisitions and building its infrastructure reflected in outstanding operating and financial results. Revenues and adjusted EBITDA hit record levels and are up 27% and 28.5% over the previous year.
In October, the Company acquires IRIS, le groupe visuel, a national optometrically driven chain and banner, with a network of 147 locations across Canada (50 corporate, 77 jointly owned and 20 franchised) for
a price of $120,000,000.
In connection therewith, the Company raises $50,000,000 of new equity capital by private placement.
This confirms the Company's position as the largest optical company in Canada with 379 locations and four significant banners, New Look Eyewear, Vogue Optical, Greiche & Scaff and IRIS and estimated annual sales of $265,000,000 (owned) and $315,000,000 (total network) respectively.
In February, the Company acquires the Forward Vision Group for $13,000,000 with 15 locations in southwestern Ontario and in December, acquires Visions Optical with 10 locations in British Columbia for $6,600,000, further unfolding its national strategy and making it the largest retail optical chain in Canada.
At year-end, the Company had 220 locations and revenues of $200 million.
In May 2015, the name of the public company was changed to New Look Vision Group and the Company evolved to a holdco management structure, reflecting its recent dramatic growth and current scope of activities.
Antoine Amiel is appointed President and Chief Executive Officer.
In October 2014, the Company acquires Greiche & Scaff, a 49 locations retail optical chain operating principally in the greater Montreal area for $17,750,000.
In connection therewith, the Company raises an additional $10,000,000 of new equity capital in the public market.
At year-end 2014, revenues exceeded $140 million and the Company had 193 locations operating principally under its three banners: New Look Eyewear, Greiche & Scaff and Vogue Optical.
In December, the Company launches its pan Canadian roll up acquisition strategy with the acquisition of Vogue Optical, the leading retail optical chain and banner in the Maritimes, with 67 locations principally in the Atlantic provinces for $74,000,000.
In connection therewith, the Company raises $25,000 of new equity capital in the public market.
Antoine Amiel joins the Company as Vice-Chairman, Strategic Developments.
The Company acquires ownership of the real estate and buildings housing its laboratory and distribution facilities in Ville St.Laurent, Quebec providing it essential flexibility for future growth.
Revenues exceed $80 million and the store network reaches 68 locations in Quebec and the Ottawa region, all under the New Look Eyewear banner.
The business is converted back into a corporate structure listed on the Toronto Stock Exchange and commences a quarterly dividend policy.
The Company successfully introduces its Evolution HDTM and Ultra EvolutionTM digital, “free form”, lens technology to the marketplace.
The Company introduces “Hydro Satin” lens coating technology.
Revenues reach $50 million and the store network increases to 52 locations.
Benvest Capital Inc. is converted into a public income trust, the Benvest New Look Income Fund which commences declaring distributions to its shareholders.
New Look Eyewear effectively becomes a public company with the consolidation of its results by Benvest Capital Inc.
Opening of a major new lens processing laboratory and distribution centre in Montreal.
Opening of a prototype mega store in Laval, Quebec.
Benvest Capital Inc., a merchant bank led by John Bennett, the current chair of the Company, acquires ownership and control in May 2001 of Lunetterie New Look. Emmett Pearson is appointed President and Chief Executive Officer. At that time, the Company has revenues of $34 million and 30 stores principally in Quebec.
Under Benvest Capital Inc. direction, New Look Eyewear commences a program of rebuilding and expanding the store network.
Lunetterie New Look is founded by optician Guy Rouleau in Quebec City.