Bailey Nelson

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Bailey Nelson
IndustryOphthalmic and dispensing opticians
Founded2012; 9 years ago (2012) in Sydney
Founder
  • Nick Perry
  • Peter Winkle
HeadquartersSydney
Area served
Australia, Canada, New Zealand, United Kingdom, United States
Websitehttps://baileynelson.com.au

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

The chain offers optician services for eyesight testing and sells glasses, sunglasses, and contact lenses. Blue light filters have been available for an additional fee on Bailey Nelson glasses as early as Jan 2019, if not earlier.[2]

The company has a total speculated turnover of $100M in revenue annually[3], with more than 70 branches in Australia, New Zealand, Canada and the UK.[4][5]

History

Bailey Nelson was founded in 2012 by Nick Perry and Peter Winkle in the Bondi Beach area of Sydney, NSW.[1][4][6] Perry reports they received no outside funding at the start, investing $80,000 of their own savings.[6]

The company started with offering glasses and ventured into contact lenses (including their own store brand) in 2016, if not earlier[7]. They introduced optometry services in their stores in 2014.[6]

All frames are designed in house and produced by their own manufacturers in China.[8] The acetate they source is from the company Mazzucchelli 1849, based in Italy.[9][10][11][12] Mazzuchhelli also assisted them in choosing factories to partner with.[6]

Business Strategy and Partnerships

At an overarching optometry market-level, Bailey Nelson is a competitor to the behemoth that is Luxottica, among other independent producers like Warby Parker. Part of the way in which they, and other companies like them, are able to stay competitive is by changing suppliers, and likely working with more independent producers. High level, Bailey Nelson states their purpose is to bypass the "unfair and overpriced" eyewear market with direct-to-consumer alternatives.[3] The product is vertically integrated, with acetate frames designed in-house in Sydney and produced in factories overseas. [13][14][15] 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.”[16][14]

At a product level, Bailey Nelson started with optical glasses and sunglasses, later expanding to contact lenses.[17] They also offer blue light filters, though some doubt the efficacy of said blue light filters.[18] As with another non-Luxxotica optical retailer, Oscar Wylee, in 2019 they were required to publish recall notices for specific sunglasses styles sold between May 1 and August 17 2019.[19][20] By default their optical and sunglasses have anti-glare and scratch resistant coatings included in the price.[21][22][23][24]

They started their operations in Australia. Bailey Nelson entered Canada in 2014, though had to shutter sever stores in 2017 due to severing a “licensee agreement”. They have since re-entered the Canadian market.[25][13]In 2019, they “continue(d) to aggressively expand” in Canada, with 15 stores as of November 2019, with the plan to “open seven to eight locations (in the 2019 financial year)”.[26] In 2015, they had 4 branches in the UK.[21] Also in 2015, they opened up shop in Wellington, New Zealand.[27]

Since the licescee shuttering in Canada, they’ve reentered the partnership opportunity space, 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 - in short - manages the overhead costs like systems, training, supply chain and other support systems.[28][29][30]

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.[31][32]

They offer alternative payment solutions including Afterpay|AfterPay and Zip in Australia[33][34], including the Afterpay card[35]. In 2019, 2020[36] and 2021[37], 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.[38][39][40].

In 2020, they responded to COVID-19 pandemic|COVID-19 by shutting all stores globally, by 27 Mar.[41] By 21 Nov 2020, stores in Australia were re-opening in line with individual state guidelines.[42] Each individual region has had different and staggered responses to COVID-19 protocol. [43][43][44]

Business Future

Co-founder Nick Perry stated in 2019 that in the Canadian market, their longer term goal was to be at 50 locations in Canada.[14][26][45] With this comes a three-part strategy: focus on optometry, build engaged, passionate staff, and deliver quality differentiating product. [16][45]This strategy is in part due to the differing medicare coverages of eyecare in Canada versus Australia, the market they started in.[45]

They also have private advisors, including Delaney Schweitzer.[45] 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.[3]

References

  1. 1.0 1.1 "Current details for ABN 55 155 832 241". Australian Business Register. Retrieved 3 May 2021.
  2. Ward, Mary (2019-01-30). "Should you add a blue light filter to your glasses?". The Sydney Morning Herald. Retrieved 2021-05-03.
  3. 3.0 3.1 3.2 Thompson, Sarah (2021-03-28). "Goldman Sachs has eyes on Bailey Nelson funding round". Australian Financial Review. Retrieved 2021-05-03.
  4. 4.0 4.1 "Who We Are - Bailey Nelson Australia". baileynelson.com.au. Retrieved 2021-05-03.
  5. "Careers at Bailey Nelson - Bailey Nelson Australia". baileynelson.com.au. Retrieved 2021-05-03.
  6. 6.0 6.1 6.2 6.3 Walsey, Alice (29 Oct 2020). "My first year in business: Pete Winkle". Afterpay Access. Retrieved 2021-05-03.
  7. Riches, Rhiannon (2016-07-27). "Growth spurt for young boutique group". Optometry Australia. Retrieved 2021-05-03.
  8. "How Bailey Nelson Glasses Are Made - Bailey Nelson Australia". baileynelson.com.au. Retrieved 2021-05-03.
  9. "Bailey Nelson: Simply Sophisticated". mivision. 2019-03-28. Retrieved 2021-05-03.
  10. The Bailey Nelson Process - Introducing Mazzucchelli Acetate, retrieved 2021-05-03
  11. "Popular eyewear brand Bailey Nelson opens new store in Calgary | Curated". dailyhive.com. Retrieved 2021-05-03.
  12. Bilodeau, Michelle (26 Jan 2018). "Forward-thinking eyewear makers are disrupting the industry in the best way". Retrieved 3 May 2021.
  13. 13.0 13.1 Lau, Lucy (2017-07-10). "Australian eyewear line Bailey Nelson marks re-entry into Canadian market with Robson Street store". The Georgia Straight. Retrieved 2021-05-09.
  14. 14.0 14.1 14.2 Toneguzzi, Mario (2018-12-11). "Bailey Nelson Continues Canadian Store Expansion as it Enters New Markets". Retail Insider. Retrieved 2021-05-09.
  15. Browne, Jennifer (2019-03-25). "Downtown Toronto Just Opened A Brand New Bailey Nelson Sunglasses Shop". Narcity. Retrieved 2021-05-09.
  16. 16.0 16.1 "Aussie Chain Bailey Nelson Plans 50 Stores in Canada | Eye Care Business Canada". Retrieved 2021-05-09.
  17. Ellie Pithers, Senior Fashion News & Features Editor. "When did glasses become cool?". The Telegraph. Retrieved 2021-05-09.CS1 maint: extra text: authors list (link)
  18. Ward, Mary (2019-01-30). "Should you add a blue light filter to your glasses?". The Sydney Morning Herald. Retrieved 2021-05-09.
  19. "Bailey Nelson and Oscar Wylee forced to recall sunglasses - Ragtrader". www.ragtrader.com.au. Retrieved 2021-05-09.
  20. "Labelling Issues Drive Recall for Oscar Wylee and Bailey Nelson – mivision". Retrieved 2021-05-09.
  21. 21.0 21.1 Lidbury, Oliva (9 Apr 2015). "Best alternative shops for prescription glasses - Telegraph". fashion.telegraph.co.uk. Retrieved 2021-05-09.
  22. "Frequently Asked Questions - Bailey Nelson Australia". baileynelson.com.au. Retrieved 2021-05-09.
  23. McEwen, Julia. "The most stylish glasses brands you need to know about". Canadian Living. Retrieved 2021-05-09.
  24. Young, Sarah (2016-10-03). "9 best prescription frames". The Independent. Retrieved 2021-05-09.
  25. Sagan, Aleksandra (10 Apr 2017). "Global eyewear retailers like what they see in Canadian market". The Globe and Mail. Retrieved 2021-05-09.
  26. 26.0 26.1 Mario, Toneguzzi (2019-11-21). "Aussie Eyewear Retailer Bailey Nelson Continues Rapid Canadian Store Expansion". Retail Insider. Retrieved 2021-05-09.
  27. Winter, Chloe (2015-12-27). "Australian eyewear retailer Bailey Nelson sets up shop in Wellington". Stuff. Retrieved 2021-05-09.
  28. "Bailey Nelson targets optometrists for new partnership model". Insight. 2019-10-11. Retrieved 2021-05-09.
  29. "Bailey Nelson Launches Business Partnership Model – mivision". Retrieved 2021-05-09.
  30. "Partnership possibilities with Bailey Nelson". Optometry Australia. 2017-07-12. Retrieved 2021-05-09.
  31. Brooks, Emily; Verdouw, Emily (2016-05-06). "A Morning With Uge: The Man Behind The Aquabumps Lens". Huffington Post. Retrieved 2021-05-09.
  32. "Dowse". Aquabumps. 2015-10-15. Retrieved 2021-05-09.
  33. "Shop at Bailey Nelson interest free with Zip | Buy Now Pay Later". Retrieved 9 May 2021.
  34. "How to shop online with Bailey Nelson using Afterpay". Retrieved 9 May 2021.
  35. Fenech, Stephen (29 Mar 2021). "Afterpay launches digital card to provide a convenient in-store payment solution". Tech Guide. Retrieved 9 May 2021.
  36. Bailey, Jessica. "Australians Rejoice: Afterpay Is Having A Huge Two-Day Sale This Thursday + Friday". Grazia. Retrieved 2021-05-09.
  37. Santos, Chynna. "Afterpay Day Sale 2021". Broadsheet. Retrieved 2021-05-09.
  38. Harris, Alyeesha (10 Aug 2020). "The It List: Bailey Nelson extends eyewear offer to students, staff for back to school". Vancouver Sun. Retrieved 2021-05-09.
  39. Wan, Agnes (9 Mar 2021). "Score Specs And Sunnies At 20% Off With This Sweet Student Discount". The Urban List. Retrieved 2021-05-09.
  40. "Bailey Nelson Announces Significant Black Friday Discounts". finance.yahoo.com. Retrieved 2021-05-09.
  41. Hansford, Tom (4 May 2020). "Optical Retailer Bailey Nelson Focuses on Elevating Online and In-store Customer Experiences". Oracle NetSuite. Retrieved 2021-05-09.
  42. "Bailey Nelson - Bailey Nelson Australia". baileynelson.com.au. Retrieved 2021-05-09.
  43. 43.0 43.1 "Bailey Nelson - Bailey Nelson Canada". baileynelson.com. Retrieved 2021-05-09.
  44. "Our Response to COVID-19 in New Zealand - Bailey Nelson New Zealand". baileynelson.co.nz. Retrieved 2021-05-09.
  45. 45.0 45.1 45.2 45.3 February 25, Justin Dallaire; 2020 (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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