National Vision Names Mark Banner as New Chief Stores Officer

DULUTH, Ga.—National Vision Holdings, Inc. (NASDAQ: EYE), one of the largest optical retail companies in the U.S., has announced the appointment of Mark Banner as the company’s new chief stores officer, effective July 8, 2024. Banner is transitioning into the role previously held by Sharon Petitt due to her planned retirement. A specialty retailer who joins the company after a seven-year tenure at Sleep Number, the company stated, Banner brings team leadership expertise in sales, sales operations, digital, promotion and real estate.

Fielmann Group Closes Acquisition of Shopko Optical, Increases FY2024 Outlook and Adds to Leadership Team

HAMBURG, Germany, GREEN BAY, Wis. and DETROIT—The Fielmann Group, a global eyewear provider, announced yesterday that it had closed on its acquisition of Green Bay, Wis.-based retailer Shopko Optical. In the announcement, the company also upgraded its 2024 sales outlook and announced an addition to its executive team. The transaction was first signed on June 10, 2024, and calls for the group's U.S. subsidiary, Fielmann USA, to acquire 100 percent equity ownership in Shopko Optical from Monarch Alternative Capital LP, as reported in VMAIL last month.

Optical Associations React to Final ‘Eyeglass Rule' Update

WASHINGTON, D.C.—Last week, as reported in VMAIL, the Federal Trade Commission (FTC) announced final updates to its 10-year Ophthalmic Practice Rules, known as the Eyeglass Rule. According to the FTC, the updates, which are scheduled to take effect 60 days after publication in the Federal Register, are designed to increase compliance with the rule’s long-standing requirement that ophthalmologists and optometrists who have a financial interest in selling prescription eyewear provide patients with a free copy of their prescription following a refractive eye exam. In addition, they will also be required to undertake the following:

Optical Gains Traction in Adopting Artificial Intelligence

As artificial intelligence (AI) continues to penetrate nearly every industry and aspect of our everyday lives, ECPs and optical retailers are taking a hard look at the technology, and appear to be in various stages of implementing it into their business models and strategies. It also appears that AI is ready to permeate the optical industry as well, with the promise of more efficient processes that can benefit both providers and patients/consumers. For this feature, VM reached out to ECPs, optical retailers, eyewear companies, and contact lens companies to find out how they are applying AI in their businesses. The “potential of AI” was mentioned frequently, with some companies taking a more cautious approach to AI with concerns over security and privacy at the forefront.

National Vision Hosts More Than 1,000 Optometrists at Annual Continuing Education Symposium

DULUTH, Ga.—National Vision Holdings, Inc. (NASDAQ: EYE), one of the nation’s largest optical retailers, hosted more than 1,000 optometrists across two weekends for its Annual Continuing Education (CE) Symposium in Phoenix, Ariz., from June 1-4 and in Orlando from June 8-11. The conference was designed to empower doctors through education and camaraderie, giving them the tools they need to foster successful optometry careers, according to the company. “We are committed to empowering our network of optometrists to lead and innovate in their field," said National Vision chief medical officer Priti Patel, OD.