Announces Investment in Topology
MONTREAL, Aug. 9, 2019 /PRNewswire/ - New Look Vision Group Inc. (TSX: BCI) ("New Look Vision"), announced today that it has entered into an agreement with Topology, a San Francisco-based leader in custom-tailored eyewear. The agreement gives New Look Vision Group exclusive rights
"The high-end custom-tailored eyewear market offers attractive opportunities to grow the premium segment of our business. Topology is leading the way in bringing technology to the world of custom-tailored eyewear, a segment at the crossroads of technology, cutting edge frames and precise optical measurement. New Look and Topology believe that technology will be used to improve eyewear products. With our significant retail footprint and our insight into customer demand for eyewear, the partnership will support Topology's constant evolution of styles and designs, extending our premium products portfolio, and will bring Topology to the Canadian consumers," stated Antoine Amiel, President and Chief Executive Officer of New Look Vision.
Eric Varady, Topology's founder and CEO stated, "We are delighted to partner with the Canadian retail leader in optical. New Look Vision Group is a forward-thinking organization with a demonstrated track record of leveraging technology to elevate its customers' retail experience. We are excited to expand the ways in which consumers will be able to experience Topology by offering our custom-tailored eyewear in-store to New Look's discerning customer base."
Topology uses the latest in 3D facial scanning, augmented-reality, and advanced manufacturing to create high quality custom-tailored eyewear, for each and every individual. Topology's patented mobile app takes over 20,000 measurements to develop a 3D model of facial features accurate to sub-millimeter level. The app automatically adjusts eyewear design to fit perfectly, and simultaneously extracts every optical measurement with unsurpassed 3D precision, delivering its custom-tailored offering to the most discerning of customers. Each pair of Topology glasses is cut from Italian acetate or lightweight, flexible stainless, uniquely inscribed with the customer's name.
Topology will initially be available in 15 stores across Canada in the fall, located in Quebec, Ontario, Alberta and British Columbia, before a wider rollout in early 2020.
About New Look Vision Group
As of April 30, 2019, New Look Vision had 15,597,094 Class A common shares issued and outstanding. New Look Vision is a leader in the eye care industry in Canada with a network of 380 stores operating mainly under the New Look Eyewear, Vogue Optical, Greiche & Scaff and Iris banners and laboratory facilities using state-of-the-art technologies. Tax information regarding payments to shareholders is available at www.newlookvision.ca in the Investors section.
Topology is a San Francisco-based startup that creates custom-tailored eyewear using advanced technology to solve the challenges of ill-fitting glasses and insufficient selection. Eric Varady, the founder of Topology, felt the frustration of searching for glasses that fit perfectly, and ultimately realized that stock eyewear simply does not cater to the true diversity of facial features in the world. Topology uses its app to capture more than 20,000 points of measurement and then crafts eyewear that perfectly fits one customer at a time. The benefits of Topology include more comfortable glasses, clearer optics, and complete control over style.
For more information, please visit: http://www.topologyeyewear.com/ or follow us on Facebook, Instagram and Twitter @TopologyEyewear.
Forward Looking Statements
All statements other than statements of historical fact contained in this press release are forward-looking statements, including, without limitation, statements regarding the future financial position, business strategy, projected costs and plans and objectives of, or involving New Look Vision. Readers can identify many of these statements by looking for words such as "believe", "expects", "will", "intends", "projects", "anticipates", "estimates", "plans", "may", "would" or similar words or the negative thereof. There can be no assurance that the plans, intentions or expectations upon which these forward-looking statements are based will be achieved. Forward-looking statements are subject to risks, uncertainties and assumptions. Although management of New Look Vision believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Some of the factors which could affect future results and could cause results to differ materially from those expressed in the forward-looking statements contained herein include: pending and proposed legislative or regulatory developments, competition from established competitors and new market entrants, technological change, interest rate fluctuations, general economic conditions, acceptance and demand for new products and services, and fluctuations in operating results, as well as other risks included in New Look Vision's current Annual Information Form (AIF) which can be found at www.sedar.com. The forward-looking statements included in this press release are made as of the date hereof, and New Look Vision undertakes no obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise, except as provided by law.
For additional information, please visit our Website at www.newlookvision.ca.
SOURCE New Look Vision Group
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