OC VISION

What OC VISION does

OC VISION is the largest eye care company in the Baltic states, headquartered in Riga, Latvia, with operations across Latvia and Lithuania and additional wholesale and e-commerce reach into Estonia and other EU markets. Founded in 1991 and privately held under a founder family (Jānis Dzenis as Chairman, Toms Dzenis as CEO, and Gatis Kokins on the Board), the group employs 579 people and operates 78 retail locations. Its core business is the retail sale of prescription eyewear, sunglasses, contact lenses and related eye-care services through a portfolio of differentiated consumer brands spanning premium to value price tiers: Vision Express and Lornete at the premium end, VIZIONETTE and OptiO in the mid-market, and Dr. Lensor as a value and online brand. The company also runs an in-house ophthalmic lens laboratory and a wholesale medical equipment arm (now branded MEDICCA, successor to OPPTICA) that distributes equipment for ENT, surgery, gynecology and dental applications, including an exclusive partnership with ATMOS MedizinTechnik.

The group monetises through three interlocking channels: (1) B2C retail optical sales across the multi-brand store network, (2) B2B wholesale of ophthalmic and medical equipment to clinics, retailers and resellers in the Baltics and other EU countries, and (3) ancillary services including eye examinations, lens fitting, hearing centres and, more recently, the LORENT ENT clinic established in 2026. Revenue reached a record EUR 39 million in 2025 (up from EUR 36 million in 2024, roughly 8% YoY), with 2024 EBITDA of EUR 2.2 million and net profit of EUR 0.7 million. The capital structure includes a EUR 4.5 million cash position and a EUR 10 million corporate bond issued in June 2025 at 6% over four years, which was 130% oversubscribed.

OC VISION's strategy emphasises scale-driven cost efficiency, exclusive distribution rights for premium global eyewear brands (including Luxottica, Safilo and Essilor), and incremental expansion of both the retail footprint and adjacent medical verticals. Recent moves include new Vision Express and VIZIONETTE store openings, the LORENT ENT clinic investment of EUR 2.5 million for a 10.6% stake, the OPPTICA-to-MEDICCA rebrand broadening wholesale categories, and the ATMOS partnership, all consistent with a multi-format roll-up of optical and adjacent medical retail and distribution in the Baltic region.

Name

OC VISION

Legal name

SIA OC VISION

Website

https://ocvision.eu

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

101–250 employees

Short description

OC VISION is the largest eye care group in the Baltic states, operating 78 retail optical stores across Latvia and Lithuania under multi-tier brands (Vision Express, VIZIONETTE, OptiO, Dr. Lensor, Lornete), an in-house lens lab, and a wholesale medical equipment arm (MEDICCA). It serves retail consumers, clinics and EU wholesalers.

Ownership category

akta.pro rank

Product category

Optical Retail and Eyecare Services

NAICS

Optical Goods Retailers (456130), Offices of Optometrists (621320), Ophthalmic Goods Merchant Wholesalers (423460)

SIC

Ophthalmic Goods (3851)

akta.pro industry

PRIMARYCRAAAKAK

Eyewear Retail & DTC Brands (Frames & Sunglasses)

Consumer Products & Retail/Apparel, Footwear & Accessories/Eyewear (Frames & Sunglasses)

SECONDARYHLAKAKAL

Optical Dispensing & Eyewear Retail (Glasses/Frames/Lenses)

Healthcare & Life Sciences/Specialist Medical Practice/Ophthalmology & Optometry

SECONDARYHLAHAJAD

Optical Dispensing & Eyewear Devices (Frames, Lenses, Lens Edging/Finishing Equipment)

Healthcare & Life Sciences/Medical Devices & Diagnostics/Ophthalmic Devices (Vision Care & Surgical)

Keywords

• Optical retail stores
• Vision care services
• Eyewear wholesale
• Contact lens retail
• Hearing care services

Headquarters

HQ city

Riga

HQ country

Latvia

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Retail eyewear sales: Sale of eyewear, frames, sunglasses, lenses, and contact lenses through owned retail stores (Vision Express, VIZIONETTE, OptiO, Lornete) and online (Dr. Lensor e-commerce)
2. Wholesale optical goods: OPPTICA/MEDICCA wholesale division selling optical goods, medical instruments and equipment to other optical businesses and medical facilities across Baltic States and EU countries
3. Professional eye examination services: Vision testing and eye health examination services performed by certified ophthalmologists and optometrists
4. Premium eyewear retail: Sale of premium eyewear brands including SEIKO lenses and Ray-Ban frames in VIZIONETTE stores
5. Medical equipment wholesale (MEDICCA): MEDICCA rebranded division selling high-class medical equipment to surgery, ENT, gynecology, and dental segments with exclusive ATMOS MedizinTechnik partnership

Pricing tiers

Distribution channels7 records

Marketing channels5 records

Core offering

OC VISION operates a multi-brand optical retail and wholesale business across the Baltic States, offering professional eye examinations, vision correction, prescription eyewear, contact lenses, sunglasses, and hearing care services through retail brands Vision Express, VIZIONETTE, OptiO, Lornete, and the Dr. Lensor online shop. The wholesale division OPPTICA/MEDICCA distributes optical goods and medical equipment to other optical businesses and medical facilities. The company is expanding into adjacent healthcare services through the LORENT ENT clinic and integrated hearing care centers.

Product overview

OC VISION is the largest integrated vision and hearing care provider in the Baltics, operating a multi-brand retail portfolio alongside wholesale distribution. The retail arm includes Vision Express (premium chain with 26 stores), VIZIONETTE (modern 21st century concept), OptiO (value-focused with 41 stores), Lornete (exclusive boutique), and Dr. Lensor (online contact lens retailer). The wholesale division OPPTICA/MEDICCA serves optical professionals across the Baltics and EU. Recent diversification includes LORENT ENT clinic (10.6% stake) and hearing centers, expanding beyond traditional optical retail into integrated healthcare services.

Differentiator

Problem solved

Functional benefit

Brands

• Vision Express: Most recognized optical store network in Latvia and Lithuania offering broad range of goods, attractive prices and professional vision testing. 15 stores in Latvia (9 in Riga, others in Liepaja, Daugavpils, Ventspils, Jurmala, Jelgava, Rezekne) and 11 stores in Lithuania. Features 'glasses in 1 hour' laboratory service with 80% of glasses made within one hour.
• VIZIONETTE
• OptiO
• Dr. Lensor
• Lornete
• OPPTICA / MEDICCA
• LORENT

Products and services

• Vision Express Most recognized optical retail chain in Latvia and Lithuania with 26 stores total (15 in Latvia including 9 in Riga, 11 in Lithuania). Offers professional vision testing, over 1,200 frame models, and 'glasses in 1 hour' in-store laboratory service. Operates under Grand Vision/Vision Express Group license for the Baltic region.
• VIZIONETTE Modern 21st century optical retail concept featuring do-it-yourself zones for ultrasonic cleaning and repairs, Eye SPA with air pressure massage, self-service sectors, and premium eyewear brands including Ray-Ban, Versace, Dolce & Gabbana, Tom Ford, Gucci, and own brand Cvantus. Environmentally friendly solutions with free lens cleaning fluid refills.
• OptiO Value-oriented optical retail chain with 41 stores across Latvia (25) and Lithuania (16), covering all Latvian regions. Most accessible and affordable option offering social responsibility programs including free glasses for children under 18 (EUR 55 value), free glasses for students and educators (April-May annually), and EUR 30 senior discount every Tuesday.
• Lornete Exclusive concept optical salon located at Berga Bazārs in Riga offering premium exclusive glasses, sunglasses, contact lenses, professional vision tests, and style consultations. Features latest collections from leading fashion houses. Name derived from French 'lorgnette' (opera glasses invented in late 19th century).
• Dr. Lensor Online contact lens retailer with broadest online range and largest contact lens warehouse in the Baltics at competitive prices. Operates in Latvia, Lithuania, and Estonia.
• OPPTICA / MEDICCA Leading wholesale division of optical goods, services, and medical instruments in the Baltic States. Serves optical shops, ophthalmology clinics, and medical facilities across Latvia, Lithuania, Estonia, and other EU countries. Offers full-service support including sale, implementation, training, warranty, after-warranty service, and repair. Equipment from Essilor, Tomey Corporation, Keeler, Huvitz, and iCare.
• LORENT ENT Clinic Specialized ear, nose, and throat (ENT) clinic in Mežaparks, Riga at Kokneses prospekts 18A. Approximately 500 square meters with three ambulatory offices, operating room, and day hospital. Provides full-cycle diagnostics, treatment, and surgical care for children and adults including audiometry, tympanometry, otoacoustic emission measurements, endoscopic examinations, vestibulometry, and home polygraphy for sleep breathing disorders. OC VISION holds 10.6% stake.
• Vision Express Hearing Centers Hearing care centers operated under Vision Express brand, with four centers in Latvia. Integrated with LORENT clinic for comprehensive hearing healthcare services.

Quantifiable outcome

• 80% of glasses can be made within one hour at Vision Express (vs. 2-day industry average)
• +3 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered major, core and minor.

• MeDi GroupmajorStrategic or Co-development Partner · 1 January 2026Healthcare services platform collaborating on LORENT ENT clinic establishment. OC VISION holds 10.6% ownership stake in the joint project with initial investment of EUR 2.5 million. MeDi Group is building a healthcare company group in the Baltics with Merito Partners, planning up to EUR 20 million private capital investment.
• ATMOS MedizinTechnikmajorTechnology or Integration · 1 January 2026Exclusive distribution partnership for German medical technology manufacturer specializing in medical pumps, ENT and gynecology equipment. First products delivered to Latvian market in Q2 2026. Represents expansion of MEDICCA wholesale division into new medical segments.
• Grand Vision/Vision Express GroupcoreChannel Partner/ Reseller/ DistributorMaster license holder for Vision Express trademark and trade name in Republic of Latvia, Republic of Lithuania, and Republic of Estonia. Operates 26 Vision Express optical stores across Baltic region under franchise conditions.
• Luxottica, Safilo, Alcon, Bausch&Lomb, Essilor, SeikocoreTechnology or IntegrationOfficial representative in Baltic States for world's most renowned eyewear and optical brands. These partnerships provide access to premium frames, lenses, contact lenses, and medical instruments for both retail and wholesale operations.
• Ronald McDonald House Charities Latvia (RMHC Latvia)minorStrategic or Co-development PartnerPartnership through Mobile Health Care Center (MVAC) for children's eye health program. OptiO collects donated children's eyeglass frames to distribute to children who need glasses but lack resources.
• Dr. med. Rūdolfs Jānis VīksnemajorStrategic or Co-development PartnerLeading otolaryngologist and researcher who co-founded LORENT clinic. Holds PhD in medicine from Riga Stradins University (2025), specializing in ear, nose, throat surgery and chronic rhinosinusitis treatment.

Scale indicators15 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• Mister Spex: Mister Spex is a leading European online optical retailer selling prescription glasses, contact lenses, and sunglasses via e-commerce. OC VISION competes with Mister Spex through Dr. Lensor for online contact lens sales and is exposed to Mister Spex as a category disruptor.
• Specsavers: Specsavers is a leading optical and hearing care retailer operating a franchise-partner model in Europe, the UK, and beyond. OC VISION mirrors its joint optical/hearing care positioning, in-store laboratory turnaround, and franchise structure for Vision Express stores.
• Lensway: Lensway is a European online contact lens and eyewear retailer. Dr. Lensor is OC VISION's direct response to the Lensway model in the Baltics, operating the same online-first contact lens proposition across multiple markets.

Others

• Bausch + Lomb: Bausch + Lomb is a global eye health company selling contact lenses, lens care, and ophthalmic pharmaceuticals. OC VISION is an official Baltic distributor for Bausch + Lomb products, making it both a supplier and an adjacent category participant.
• EssilorLuxottica: EssilorLuxottica is the global eyewear giant combining lens maker Essilor with frame maker Luxottica. OC VISION is an official Baltic distributor for both companies' brands, making EssilorLuxottica a key supply partner that also sets competitive dynamics across the category.
• Alcon: Alcon is one of the world's largest eye care companies focused on contact lenses, surgical equipment, and ophthalmic pharmaceuticals. OC VISION is an official Baltic distributor for Alcon contact lens products, creating direct partnership overlap.

Broad incumbents

• Boots Opticians: Boots Opticians is the optical retail division of a major UK health and beauty chain offering eye exams, eyewear, and contact lenses. OC VISION operates a similar pharmacy-adjacent, multi-service retail model scaled to the Baltic region.
• Fielmann: Fielmann is Europe's largest family-controlled optical retailer with thousands of stores across the continent. OC VISION operates a similar multi-brand optical retail model at smaller Baltic scale, with comparable in-house lens finishing and exclusive brand partnerships.
• GrandVision (EssilorLuxottica Retail): GrandVision is the global optical retail platform that owns the Vision Express master brand licensed by OC VISION. OC VISION operates as GrandVision's franchise partner in the Baltics, making it both a commercial partner and the closest comparable multi-brand optical retail operator.

Regional players

• Apollo Optical (Firma Apollo): Apollo Optical is one of OC VISION's main domestic competitors operating an optical retail chain in Latvia. Both companies target the same Baltic consumer with prescription eyewear, contact lenses, and eye examinations, making Apollo the closest regional peer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/ocvisiongroup

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries7 records

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 OC VISION