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CORAL EYEWEAR acquires PALA EYEWEAR

Coral Eyewear, the British-business led by father-son duo Calvin and George Bailey, has announced the acquisition of fellow sustainable brand, Pala Eyewear.

Pala Eyewear was founded in 2016 by John Pritchard and has since supported more than 28,000 individuals to receive accessible and affordable eye care the statement says. In 2020, Pala was awarded B-Corp status which recognises businesses committed to doing good for people and the planet.

Announcing the deal, George Bailey said: “A full purchase of Pala Eyewear’s stock, trademarks and digital infrastructure will allow Coral to expand the choice available to existing stockists.  Bringing on board Pala’s array of knowledge and high-quality collections allows Coral Eyewear to increase its ever-growing share of voice in the eyewear industry, as we continue to seek ways to implement more purpose-led, sustainable change”.

PALA EYEWEAR

The acquisition comes on the back of a Crowdcube investment raise which saw over 200 backers pledge more than £260,000 to the Coral Eyewear mission. Coral Eyewear has previously announced licensing and supplier agreements to some of the world’s biggest sports and leisure brands in Virgin Voyages, Williams Racing Formula 1 Team and Great Britain Cycling Team.

Pala Eyewear’s online store has relaunched today and their Spectacles range is expected to be sold within more independent opticians.

John Pritchard said: “This is a great opportunity for Pala. George and Calvin have real ambition in the sustainable eyewear space and there is a clear and obvious synergy between the two brands. I have no doubt Pala is in good hands and I look forward to watching the continued growth of both product and impact work for many years to come”.

Calvin Bailey said: “Pala Eyewear is well known for its commitment to people and the planet. They have set the ethical standard for responsible eyewear products and manufacturing over the past decade, while simultaneously creating positive social and environmental impact. We plan to continue the brand’s work in the charitable sector and integrate this with Coral’s use of recycled and bio-based materials”.

Palaeyewear.com 
Coraleyewear.com

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