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| National
Vision was founded in 1990 to provide Optical Goods & Services
within Wal-Mart Stores. In 1991 the company launched the
most successful retail IPO (Initial Public Offering) of 1991, and
became a publicly traded company.
After the initial test of the Wal-Mart concept, NVI was awarded a contract in 1994 for a total of 400 locations within Wal-Mart. From 1990 to present, NVI has increased it's location count through both acquisition and organic growth to the current total of 480 locations across five retail brands in 44 states. The most recent acquisition was that of America's Best Contact Lenses & Eyeglasses in August 2005. At the same time, NVI was purchased by Berkshire Partners, and became a well funded private company. The combination of the acquisition of America's Best, and the infusion of growth capital quickly led to the current expansion of the America's Best concept. At this time NVI is the fourth largest optical retail chain in the United States, and the tenth largest in the world. In 2006 NVI had annualized sales of between $350 - $400 Million and employs approximately 3,750 people. Quality, service and satisfaction are cornerstones of our business model, and although we are not done making improvements to our delivery systems for both professional services and optical goods, our patients and customers like us. Our most recent surveys indicate that 94% of our patients and customers intend to return to us. The vast majority of our eyeglasses are manufactured in one of our three Optical Laboratories in Lawrenceville, Georgia; St. Cloud, Minnesota and Pennsauken, New Jersey. By vertically integrating our manufacturing and distribution functions, we control both the quality of the product and the delivery times. National Vision is a company that believes strongly in it's mission to create an environment where happy employees co-exist with happy customers for the benefit and growth of both. |