The world’s largest online eyewear seller is opening its first North American brick-and-mortar store on Vancouver’s Robson Street.
Coastal Contacts Inc. (TSX:COA; Nasdaq:COA) will on March 13 open a Clearly Contacts-branded, 1,000-square-foot store at 1049 Robson Street, next to an Aldo Accessories store on the north side of the street between Burrard and Thurlow streets.
The company’s only other store is operated by its LensWay subsidiary in Sweden.
“Quite simply, our customers asked for it, so we’re delivering,” said Coastal Contacts CEO Roger Hardy. “Opening our first Canadian retail location will give us a chance to interact with our customers in a new way and deliver a more comprehensive eye care experience.”
The company plans to release its financial results later today.
On February 13 the company revealed soaring growth in eyeglasses sales to drive home the message that it has evolved from being strictly a contact lens seller.
For the first quarter ending January 31, eyeglasses revenue in the U.S. increased approximately 95% compared with the first quarter of 2012, the company said.
Eyeglasses units in the U.S. market also grew approximately 95% in the first quarter of 2013 compared to the same period in 2012.
During the same quarter, eyeglasses revenue in Canada increased approximately 36% and eyeglasses unit sales in Canada increased approximately 31% compared with 2012’s first quarter.
The growth was driven by an increase in the average order size of returning customers in the Canadian market.
Coastal’s worldwide eyeglasses sales for the quarter were approximately $14 million. Business in Vancouver ranked the company No. 46 on the Top 100 Public Companies in B.C. list, with $184.1 million revenue in 2011.
Last year, Coastal hired former B.C. finance minister Gary Collins as its president.
