What Laubman & Pank does

Laubman & Pank is an Australian optometry retail chain founded in 1908 in Adelaide and currently operating 38 stores across South Australia, Queensland, Western Australia, and New South Wales. The business is wholly owned by Luxottica Retail Australia, itself a subsidiary of the global eyewear group EssilorLuxottica, and employs 51-100 people. It sells prescription glasses, sunglasses, contact lenses, and eyewear protection plans, and delivers in-store eye examinations supported by clinical diagnostic equipment including OCT scans and digital retinal imaging.

The product mix blends heritage optical retail with emerging technology segments. Beyond conventional frames and lenses, Laubman & Pank distributes Ray-Ban Meta smart glasses with integrated Meta AI, Essilor Stellest 2.0 lenses for childhood myopia management, and premium luxury eyewear brands accessed through the Luxottica portfolio. The chain also operates mobile van clinics that extend optometry services into communities outside the fixed-store footprint, signaling a hybrid physical-and-mobile service model.

Revenue is generated primarily through direct retail sales of frames, lenses, and sunglasses; professional fees for eye examinations; and recurring contributions from eyewear protection plans. Commercial integrations with 14+ Australian private health funds enable in-store claims processing, which functions as both a customer-acquisition channel and a retention mechanism. Within the EssilorLuxottica corporate structure, Laubman & Pank functions as the Australian retail banner leveraging the parent's brand portfolio, product pipeline, and operational backbone.

Name

Laubman & Pank

Legal name

Laubman & Pank Pty Limited (ACN 007 512 692)

Website

https://laubmanandpank.com.au

Company type

Private

Founded year

1908

Operating status

Operating

Headcount range

51–100 employees

Short description

Laubman & Pank is an Australian optometry retail chain founded in 1908, operating 38 stores across SA, QLD, WA, and NSW. It offers eye examinations, prescription eyewear, contact lenses, and AI-enabled smart eyewear, serving individual retail consumers under Luxottica Retail Australia.

Ownership category

akta.pro rank

Product category

Optical Retail

NAICS

Optical Goods Retailers (456130), Offices of Optometrists (62132)

SIC

Ophthalmic Goods (3851)

akta.pro primary industry

Optometry Clinics (Primary Eye Care) (HLAKAKAB)

akta.pro secondary industries

Optical Dispensing & Eyewear Retail (Glasses/Frames/Lenses) (HLAKAKAL), Comprehensive Eye Exams & Vision Care (HLAKAKAA)

Keywords

• Optometry services
• Prescription eyewear
• Eye examinations
• Contact lens fitting
• Optical retail

Headquarters

HQ city

Port Macquarie

HQ country

Australia

HQ region

Oceania

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Marketing or Sales, Infrastructure, Others

Revenue model

1. Prescription Eyewear Sales: Sale of prescription glasses, frames, lenses, and sunglasses. Includes designer brands such as Prada, Tiffany & Co., Ray-Ban, Oakley, Versace, Dolce & Gabbana. Revenue generated per transaction with value packages starting from $99.
2. Eye Test Services: Comprehensive eye examinations including bulk billed tests for eligible patients, standard eye tests, and specialized tests (astigmatism, peripheral vision, visual acuity). Contact lens appointments at $49 with $49 rebate voucher.
3. Contact Lens Sales: Sale of daily, fortnightly, and monthly contact lenses from brands including ACUVUE, Air Optix, Biofinity, Dailies, and CooperVision. Ongoing consumable revenue from repeat purchases.
4. Eyewear Protection Plan: Insurance product offering accidental damage and theft coverage for prescription eyewear. Priced at $39.95-$79.95 depending on coverage period (12-24 months) and product value. Administered by insurance.com.au.
5. Health Fund Processing: Bulk billing and health fund claims processing through partnerships with Bupa, NIB, Medibank, HBF, and other health funds. Revenue derived from gap payments and health fund rebates.
6. Gift Cards: Gift cards issued by Luxottica Retail Australia, redeemable at Laubman & Pank stores. No cash redemption, 3-year expiry.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Laubman & Pank operates a chain of 38 retail optometry stores across Australia, providing comprehensive eye examinations (including bulk billed tests) and dispensing prescription glasses, sunglasses, and contact lenses from luxury brands such as Prada, Tiffany & Co., Ray-Ban, Oakley, Versace, and Dolce & Gabbana. Services include advanced diagnostics (OCT scans, digital retinal imaging), contact lens fitting, myopia management with Essilor Stellest lenses, and health fund claims processing through 14+ partnered funds.

Product overview

Laubman & Pank operates as an optometry retail chain offering a comprehensive eye care ecosystem. The core offering centers on professional eye examinations (bulk billed, OCT scans, retinal imaging) and corrective eyewear across three main categories: prescription glasses, sunglasses, and contact lenses. The company distributes frames from major luxury and lifestyle brands including Prada, Tiffany & Co., Versace, Ray-Ban, and Oakley. A notable technology product is the Ray-Ban Meta smart glasses line featuring AI-powered Meta AI for translation and voice commands. Lens add-ons include Essilor Stellest (myopia management), Varilux progressive lenses, Transitions light-adaptive lenses, and various coatings (Crizal anti-reflective, blue-violet light filtering). Contact lens portfolio spans daily, fortnightly, and monthly modalities from major manufacturers. The company also offers the Eyewear Protection Plan insurance product and Nuance Audio hearing-assisted glasses, all backed by a Happiness Guarantee and 24-month warranty.

Differentiator

Problem solved

Functional benefit

Products and services

• Eye Tests
• Prescription Glasses
• Sunglasses
• Ray-Ban Meta Smart Glasses
• Contact Lenses
• Eyewear Protection Plan
• Nuance Audio Glasses
• Contact Lens Appointment
• Essilor Stellest Lenses
• Gift Cards

Quantifiable outcome

• 38 stores nationwide serving Australian communities
• +2 more outcomes

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability5 records

Feature5 records

Partnerships

19 partnerships are on record, tiered core, major and standard.

• OneSight EssilorLuxottica FoundationcoreStrategic or Co-development PartnerLaubman & Pank partners with OneSight EssilorLuxottica Foundation to create sustainable access to vision care, provide free eye exams and glasses for those in need, fund local vision care programs, and raise awareness of poor vision. The foundation aims to eliminate uncorrected poor vision in a generation.
• BupamajorGTM or Marketing PartnerHealth fund partner providing optical benefits to Bupa members. Laubman & Pank processes Bupa optical claims and offers benefits to Bupa health fund members.
• NIBmajorGTM or Marketing PartnerHealth fund partner providing optical benefits to NIB members. Laubman & Pank processes NIB optical claims.
• MedibankmajorGTM or Marketing PartnerHealth fund partner providing optical benefits to Medibank members. Laubman & Pank processes Medibank optical claims.
• HBFmajorGTM or Marketing PartnerHealth fund partner providing optical benefits to HBF members in Western Australia. Laubman & Pank processes HBF optical claims.
• AHMstandardGTM or Marketing PartnerHealth fund partner (Australian Health Management) providing optical benefits. Laubman & Pank processes AHM optical claims.
• Australian UnitystandardGTM or Marketing PartnerHealth fund partner providing optical benefits to Australian Unity members.
• Defence HealthstandardGTM or Marketing PartnerHealth fund partner for Australian defence personnel and families. Laubman & Pank processes Defence Health optical claims.
• Police HealthstandardGTM or Marketing PartnerHealth fund partner for police officers and families. Laubman & Pank processes Police Health optical claims.
• CBHSstandardGTM or Marketing PartnerHealth fund partner providing optical benefits. Laubman & Pank processes CBHS optical claims.
• TUHstandardGTM or Marketing PartnerHealth fund partner (Teachers Union Health). Laubman & Pank processes TUH optical claims.
• Teachers HealthstandardGTM or Marketing PartnerHealth fund partner for teachers and education workers. Laubman & Pank processes Teachers Health optical claims.
• GMHBAstandardGTM or Marketing PartnerHealth fund partner providing optical benefits. Laubman & Pank processes GMHBA optical claims.
• HIFstandardGTM or Marketing PartnerHealth fund partner (Health Insurance Fund of SA). Laubman & Pank processes HIF optical claims.
• EssilorcoreTechnology or IntegrationEssilor supplies specialized lenses including Stellest lenses for myopia management. Laubman & Pank offers promotional bundles with Essilor Stellest lenses and free frames.
• MetamajorTechnology or IntegrationLaubman & Pank is an authorized retailer of Ray-Ban Meta smart glasses featuring AI capabilities, camera, and hands-free calling. Products require Meta View app and Meta account.
• Luxottica Group S.p.A.coreOthersParent company and ultimate holding company of Laubman & Pank. Part of EssilorLuxottica, the world's largest eyewear and eye-care group. Laubman & Pank has been part of Luxottica since 2003.
• TyroHealthmajorTechnology or IntegrationThird-party payment processor for health fund claims processing, enabling seamless optical benefit claims at point of sale.
• insurance.com.austandardTechnology or IntegrationAdministrator of Eyewear Protection Plan insurance product. Authorised Representative of Community Broker Network Pty Ltd for insurance distribution.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• OPSM: OPSM is the other major Luxottica-owned Australian optical retail chain. It directly overlaps Laubman & Pank in optometry services, prescription eyewear dispensing, contact lens sales, and health-fund integration—differentiated mainly by its larger national footprint and slightly more premium positioning.
• ProVision Eyecare: ProVision is an Australian optometry buying group and practice network providing shared marketing, supplier, and technology services to independent optometrists. It competes for the same eye-care and dispensing demand as Laubman & Pank via aggregated independent practices.
• Bailey Nelson: Bailey Nelson is an Australian-born optical chain offering prescription eyewear, contact lenses, and eye exams with a design-forward, value-tier brand. It competes directly with L&P across retail store formats and online, particularly targeting younger consumers.
• Clearly: Clearly is an online-first optical retailer selling prescription glasses, sunglasses, and contact lenses in Australia. It directly competes with L&P for repeat eyewear and contact lens purchases with a lower-cost, direct-to-consumer model that bypasses in-store refraction.
• Eyecare Plus: Eyecare Plus is an Australian optometry group/network of independent practices offering eye exams, prescription eyewear, and contact lenses. It overlaps L&P on clinical eye care services and eyewear dispensing, though primarily via independently operated member practices.
• Specsavers: Specsavers is Australia's largest optical retail chain with a much larger national footprint. It competes head-on with Laubman & Pank in eye tests, prescription glasses, contact lenses, and health-fund claims processing, with a stronger value-tier pricing position.

Broad incumbents

• Sunglass Hut: Sunglass Hut is a Luxottica-owned multi-category sunglasses retailer. While not a direct optometry competitor, it overlaps with L&P in non-prescription sunglasses and shares Luxottica brand allocation, often appearing in the same shopping centres and competing for the same fashion-eyewear consumer wallet.
• Costco Optical: Costco Optical is a value-tier optical department within Costco's Australian warehouse clubs, offering eye exams and low-priced eyewear. It competes with Laubman & Pank on price-sensitive consumers and entry-level prescription glasses, particularly for Costco member households.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/laubmanandpankoptometrists

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Laubman & Pank