Eyewear specialist Inspecs Group has announced that its sales in 2021 have met expectations and experienced significant growth, laying the foundation for future expansion. The company, known for producing eyewear under licenses for popular brands such as Superdry, Radley, O’Neill, Ted Baker, Lulu Guinness, and Talbot Runhof, is set to release its full-year results in May. Inspecs made strategic moves last year by acquiring Swedish eyewear company Ego and German distributor BoDe Design, expanding its business potential. It also obtained the intellectual property, including trademarks, of Hardy Amies on a global scale. In addition to these acquisitions, Inspecs inaugurated a state-of-the-art lens manufacturing facility in Gloucester, which began production in December 2021.
Financially, Inspecs reported a group revenue of $241 million, a significant increase from $47.4 million the previous year, even though it is a UK-based company reporting in US dollars. The company’s key markets in Europe and America demonstrated resilience, and early indications suggest that the optical market remained open despite restrictions imposed in many countries. Current trading aligns with expectations for 2022. The integration of the Eschenbach acquisition, completed in December 2020, proceeded as planned and yielded positive trading results in 2021. Inspecs anticipates further synergy from this acquisition in 2022. The recent acquisitions of Ego and BoDe Design are also expected to enrich Inspecs’ brand portfolio and expand product distribution on a global scale.
Inspecs’ factories in Asia managed to maintain production throughout most of 2021, despite challenges posed by supply chain disruptions and Covid-19 restrictions. Additionally, the new manufacturing facility in Vietnam is now fully operational, and plans are underway to establish a third facility in the country. These efforts demonstrate Inspecs’ commitment to expanding its production capabilities.
Looking ahead, Inspecs remains optimistic about its trading prospects in 2022. The company’s growth potential is reinforced by recent acquisitions and various opportunities for global business expansion. Inspecs’ focus on strategic acquisitions, the establishment of new manufacturing facilities, and its ability to maintain market resilience position the company for continued success in the eyewear industry. Inspecs Group is determined to continue its growth trajectory and solidify its position as a leading player in the global eyewear market.
