SÃO PAULO, July 20, 2022 /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.
Lentesplus is the leading omnichannel eyecare player in Latin America. Founded by Jaime Oriol and Diego Mariño, 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.
LIVO is 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 São 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.
Lentesplus is now at the forefront of the eye care market consolidation in Latam. The acquisition of LIVO will help Lentesplus accelerate its expansion to the glasses and omnichannel strategy which will be the main focus of growth over the next few years, opening 600 stores in the next 4 years. In addition, the Lentesplus brand will be transformed to LIVO not only to maintain its current brand strength in Brazil but also to expand it internationally leveraging more than +400k clients that Lentesplus has.
Ronaldo Pereira Jr, was president of Óticas Carol between 2009 and 2020, and during his management, he expanded the company from a little over 150 stores in the countryside of São Paulo and to almost all Brazilian states, with more than 1300 stores. The executive collaborated in the digital transformation process of Óticas Carol, implementing a new organizational culture, valuing the partnership with franchisees and aggressive marketing.
According to Jaime Oriol and Diego Mariño, the omnichannel strategy provides a flywheel model to accelerate the consolidation process in LATAM. Not only it provides access to the offline market, but also it provides a frictionless experience to users. The stores provide a showroom where you remove the online barriers and through verticalization, you can receive your product the same day at home without having to wait two weeks.
According to Caco Bartsch, CEO of LIVO, this acquisition will ensure that LIVO's legacy will not only grow inside Brazil but will also conquer new frontiers becoming a success story of a Brazilian brand that becomes international.
Lentesplus shareholders include Ignia, Palm Drive Capital, Alumni Ventures, Fen Ventures, Stella Maris, InQlab, Empire Group, Digital Garage Ventures and Hardy Capital.
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