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Bailey Nelson

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Bailey Nelson
IndustryOphthalmic and dispensing opticians
Founded2012; 12 years ago (2012) in Sydney
FounderNick Perry, Peter Winkle
HeadquartersSydney,
Australia
Number of locations
100
Area served
Australia, Canada, New Zealand, United States
Websitehttps://baileynelson.com

Bailey Nelson (registered as Ben Buckler Eyewear Limited[1]) is an Australian multinational optical retail chain, which operates mainly in Australia, New Zealand and Canada. Bailey Nelson is, as of 2021, a privately held company[citation needed].

The chain offers optician services for eyesight testing and sells glasses, sunglasses, and contact lenses.

The company has more than 100 branches in Australia, New Zealand and Canada.

History

[edit]

Bailey Nelson was founded in 2012 by Nick Perry and Peter Winkle in the Bondi Beach area of Sydney, NSW.[1][2][3] Perry says they received no outside funding at the start, investing $80,000 of their own savings.[3]

The company started with offering glasses and ventured into contact lenses (including their own store brand) in 2016, if not earlier.[4] They introduced optometry services in their stores in 2014.[3]

Bailey Nelson entered the Canadian market in 2014[citation needed], but Canadian stores closed in 2017 after a licensing agreement ended[citation needed]. They have since re-entered the Canadian market.[5][6] In 2019, the brand continued expanding in Canada, with 15 stores as of November 2019, with the plan to "open seven to eight locations (in the 2019 financial year)".[7] In 2015, they had 4 branches in the UK.[8] Also in 2015, they opened up shop in Wellington, New Zealand.[9]

The company ceased operations in the United Kingdom in May 2023, closing their two shops in London and their online store.[citation needed]

Business strategy and partnerships

[edit]

Part of the way in which Bailey Nelson, and other companies like them, are able to stay competitive is by changing suppliers, and likely working with more independent producers [according to whom?]. High level, Bailey Nelson states their purpose is to bypass the "unfair and overpriced" eyewear market with direct-to-consumer alternatives.[10] The product is vertically integrated, with acetate frames designed in-house in Sydney and produced in factories overseas. [6][11][12] They also focus strongly on a luxury in-store experience, with the aim to turn a "clinical" optician and glasses purchase process into "one of life’s pleasures."[13][11]

At a product level, Bailey Nelson started with optical glasses and sunglasses, later expanding to contact lenses.[14] They also offer blue light filters, though some doubt their efficacy.[15] By default their optical and sunglasses have anti-glare and scratch resistant coatings included in the price.[8][16][17]

All frames are designed in house and produced by manufacturers in China. The acetate they source is from the company Mazzucchelli 1849, based in Italy.[18][19][20] Mazzuchhelli also assisted them in choosing factories to partner with.[3]

Bailey Nelson have reentered the partnership opportunity space,[clarification needed] this time in New Zealand and Australia. It's a co-investment model that allows optometrists to own a portion of a Bailey Nelson location, while Bailey Nelson manages the overhead costs like systems, training, supply chain and other support systems.[21][22][23]

In Australia, they collaborated with Eugene Tan, the founder and photographer of Aquabumps, in 2015 to launch a capsule sunglasses collection available for a limited time.[24][25]

In 2019, 2020[26] and 2021,[27] Bailey Nelson participated in "Afterpay day", also known as AfterYAY day. In many of the countries they operate in, they also offer student discounts or limited-time offers, including Black Friday deals.[28][29][30]

In 2020, they responded to COVID-19 by shutting all stores globally, by 27 Mar.[31] By 21 Nov 2020, stores in Australia were re-opening in line with individual state guidelines. Each individual region has had different and staggered responses to COVID-19 protocol.

Business Future

[edit]

Co-founder Nick Perry stated in 2019 that in the Canadian market, their longer term goal was to be at 50 locations in Canada.[11][7][32] With this comes a three-part strategy: focus on optometry, build engaged, passionate staff, and deliver quality differentiating product. [13][32]This strategy is in part due to the differing medicare coverages of eyecare in Canada versus Australia, the market they started in.[32]

They also have private advisors, including Delaney Schweitzer.[32] As of March 2021, there have been reports of a new investment funding round via Goldman Sachs to help support reportedly aggressive growth plans in all markets in the coming years.[10]

References

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  1. ^ a b "Current details for ABN 55 155 832 241". Australian Business Register. November 2014. Retrieved 3 May 2021.
  2. ^ "Who We Are - Bailey Nelson Australia". baileynelson.com.au. Retrieved 2021-05-03.
  3. ^ a b c d Walsey, Alice (29 Oct 2020). "My first year in business: Pete Winkle". Afterpay Access. Archived from the original on 2021-01-23. Retrieved 2021-05-03.
  4. ^ Riches, Rhiannon (2016-07-27). "Growth spurt for young boutique group". Optometry Australia. Archived from the original on 2020-04-01. Retrieved 2021-05-03.
  5. ^ Sagan, Aleksandra (10 Apr 2017). "Global eyewear retailers like what they see in Canadian market". The Globe and Mail. Retrieved 2021-05-09.
  6. ^ a b Lau, Lucy (2017-07-10). "Australian eyewear line Bailey Nelson marks re-entry into Canadian market with Robson Street store". The Georgia Straight. Archived from the original on 2017-07-14. Retrieved 2021-05-09.
  7. ^ a b Mario, Toneguzzi (2019-11-21). "Aussie Eyewear Retailer Bailey Nelson Continues Rapid Canadian Store Expansion". Retail Insider. Archived from the original on 2021-05-07. Retrieved 2021-05-09.
  8. ^ a b Lidbury, Oliva (9 Apr 2015). "Best alternative shops for prescription glasses - Telegraph". fashion.telegraph.co.uk. Archived from the original on 2015-04-12. Retrieved 2021-05-09.
  9. ^ Winter, Chloe (2015-12-27). "Australian eyewear retailer Bailey Nelson sets up shop in Wellington". Stuff. Archived from the original on 2018-12-03. Retrieved 2021-05-09.
  10. ^ a b Thompson, Sarah (2021-03-28). "Goldman Sachs has eyes on Bailey Nelson funding round". Australian Financial Review. Archived from the original on 2021-03-28. Retrieved 2021-05-03.
  11. ^ a b c Toneguzzi, Mario (2018-12-11). "Bailey Nelson Continues Canadian Store Expansion as it Enters New Markets". Retail Insider. Archived from the original on 2019-07-23. Retrieved 2021-05-09.
  12. ^ Browne, Jennifer (2019-03-25). "Downtown Toronto Just Opened A Brand New Bailey Nelson Sunglasses Shop". Narcity. Archived from the original on 2021-05-09. Retrieved 2021-05-09.
  13. ^ a b "Aussie Chain Bailey Nelson Plans 50 Stores in Canada". Retrieved 2021-05-09.
  14. ^ Pithers, Ellie. "When did glasses become cool?". The Telegraph. Retrieved 2021-05-09.
  15. ^ Ward, Mary (2019-01-30). "Should you add a blue light filter to your glasses?". The Sydney Morning Herald. Retrieved 2021-05-09.
  16. ^ McEwen, Julia. "The most stylish glasses brands you need to know about". Canadian Living. Retrieved 2021-05-09.
  17. ^ Young, Sarah (2016-10-03). "9 best prescription frames". The Independent. Archived from the original on 2016-10-04. Retrieved 2021-05-09.
  18. ^ "Bailey Nelson: Simply Sophisticated". mivision. 2019-03-28. Retrieved 2021-05-03.
  19. ^ "Popular eyewear brand Bailey Nelson opens new store in Calgary | Curated". dailyhive.com. Retrieved 2021-05-03.
  20. ^ Bilodeau, Michelle (26 Jan 2018). "Forward-thinking eyewear makers are disrupting the industry in the best way". Archived from the original on 2018-01-27. Retrieved 3 May 2021.
  21. ^ "Bailey Nelson targets optometrists for new partnership model". Insight. 2019-10-11. Retrieved 2021-05-09.
  22. ^ "Bailey Nelson Launches Business Partnership Model – mivision". Retrieved 2021-05-09.
  23. ^ "Partnership possibilities with Bailey Nelson". Optometry Australia. 2017-07-12. Retrieved 2021-05-09.
  24. ^ Brooks, Emily; Verdouw, Emily (2016-05-06). "A Morning With Uge: The Man Behind The Aquabumps Lens". Huffington Post. Retrieved 2021-05-09.
  25. ^ "Dowse". Aquabumps. 2015-10-15. Retrieved 2021-05-09.
  26. ^ Bailey, Jessica. "Australians Rejoice: Afterpay Is Having A Huge Two-Day Sale This Thursday + Friday". Grazia. Archived from the original on 2020-10-26. Retrieved 2021-05-09.
  27. ^ Santos, Chynna. "Afterpay Day Sale 2021". Broadsheet. Archived from the original on 2021-04-15. Retrieved 2021-05-09.
  28. ^ Harris, Alyeesha (10 Aug 2020). "The It List: Bailey Nelson extends eyewear offer to students, staff for back to school". Vancouver Sun. Archived from the original on 2020-08-11. Retrieved 2021-05-09.
  29. ^ Wan, Agnes (9 Mar 2021). "Score Specs And Sunnies At 20% Off With This Sweet Student Discount". The Urban List. Archived from the original on 2021-05-09. Retrieved 2021-05-09.
  30. ^ "Bailey Nelson Announces Significant Black Friday Discounts". finance.yahoo.com. Retrieved 2021-05-09.
  31. ^ Hansford, Tom (4 May 2020). "Optical Retailer Bailey Nelson Focuses on Elevating Online and In-store Customer Experiences". Oracle NetSuite. Archived from the original on 2020-10-20. Retrieved 2021-05-09.
  32. ^ a b c d Dallaire, Justin (2020-02-25). "View from the C-Suite: How Bailey Nelson hopes to compete with Goliath". strategy. Retrieved 2021-05-09.
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