Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
The glasses and optical products brand 'Lunettes pour tous' (Glasses for all) has announced the recruitment of 250 permanent jobs, which will be paid on average 50% more than the minimum wage. While many optical stores are closing (300 stores closed in 2017 out of 12,440), the low-cost brand created in 2014 has announced the doubling of its network, currently composed of eight stores. New stores are planned in Paris, the Paris suburbs, Nice (Alpes-maritimes) and Montpellier (Hérault).
A 'Lunettes pour tous' point of sale is aims to sell 400 pairs of glasses per day. The average of traditional opticians is 2.7 pairs. The company's slogan is 'Eyeglasses for €10 euros in 10 minutes'. If the average basket is actually €42, for a traditional optician it is €450. In the stores, customers have the choice between 1,000 frames made in China whose price varies from €10 to €30. The customer can have his vision checked and receives his pair of glasses within 10 minutes. The store has lenses in stock corresponding to 86% of the existing corrections on the market. 'Lunettes pour tous' achieved a turnover of €21 million in 2017; this amount corresponds to the sale of approximately 500,000 glasses.
Eurofound (2019), Lunettes Pour Tous, Business expansion in France, factsheet number 96337, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/96337.