New optical brand sets sights on national reach
Release date: October 4th, 2007
MBF Australia and Blink Optical Pty Ltd today announced a joint venture agreement to establish a new national retail chain of optical stores.
The aim is to initially build the joint venture optical chain to more than 30 stores nationwide with an enhanced offering and outstanding customer experience to both MBF and non-MBF customers.
MBF and Blink Optical noted that the stores will be located in areas of high optometry usage and where ready access to optical services is needed. The enhanced offerings would also be available at other Blink Optical or related outlets that are separate to the joint venture retail stores. Blink aims to establish more than 100 locations.
MBF Managing Director and Chief Executive Officer, Mr Eric Dodd, said the joint venture was in line with MBF's business strategy of providing trusted health and financial solutions to its customers.
"The joint venture is a great combination of MBF's record in looking after the needs of customers and Blink's experience and expertise in the optical market," Mr Dodd said.
"This combination provides an excellent management structure that will provide our customers with improved products and services tailored to their needs."
"We plan to grow the joint venture brand through acquisitions and new store openings with the goal of having a substantial network of stores by June 2008."
"The MBF-Blink joint venture will add a competitive and viable alternative in the Australian optical market. Optical customers will come to expect and receive superior service and excellent value for money."
Colin Kangisser, Blink Optical Chief Executive Officer and a registered optometrist, welcomed the joint venture.
Mr Kangisser said it would enhance the Blink Optical model of seeking partnerships with optical professionals including optometrists and optical dispensers.
"Optical professionals are central to the way we plan to build this business and brand," Mr Kangisser said.
"While we can bring our skills in product sourcing to the table to ensure great deals for customers, we recognise the importance of one-on-one professional care."
"A key element of the joint venture is to support each store with enhanced IT management processes, accounting, administration and marketing to enable the best in customer care."
"We are thrilled to be in a joint venture with a company of MBF's great standing. Blink is excited by the opportunities that will now flow from this business relationship."
Contacts:
MBF - David Jones MBF Public Affairs 0417 232 246
Blink Optical - Colin Kangisser 0411 759 995
About MBF
MBF is Australia's largest, non-government private health insurer with almost 800,000 policyholders. MBF provides private health insurance throughout Australia and is the number one or two private health insurer in Queensland, NSW, Tasmania and the Northern Territory. In addition to its core private health insurance business MBF Group offers life and travel insurance as well as financial planning services through ClearView Retirement Solutions.
About Blink Optical
Blink Optical operates retail optical outlets in Chatswood, Bondi, Broadway, St Ives, Paddington and Newcastle in NSW. Blink Optical also partners with established businesses with strong growth potential, such as Kevin Paisley Eyewear in Victoria and South Australia. Prior to forming Blink Optical, CEO Colin Kangisser, a registered optometrist, founded and built the Kays Optical brand to include 38 stores. www.blinkoptical.com.au
