What IRIS does

IRIS, formally IRIS The Visual Group, is a Canadian optometry and eyewear retail chain founded in 1989 and headquartered in Saint-Laurent, Quebec. The company operates a network of more than 300 affiliated optometry locations across Canada staffed by over 300 licensed Optometrists and Ophthalmologists, and it serves consumer end-markets including adults, children, and contact lens wearers through a horizontally segmented catalog (men's, women's, kids).

The core offering combines professional eye examination services (priced at $110-$150 per exam) with retail sale of prescription eyeglasses, prescription and non-prescription sunglasses, and contact lenses. Product breadth includes over 940 prescription glasses SKUs, 402+ sunglasses SKUs, and 101+ kids' eyeglasses, spanning budget and premium designer brands (Tom Ford, Gucci, Maui Jim, Oakley, Ray-Ban) plus IRIS's exclusive house brand LYA and exclusive lens collections (Apogee, Palma, Axiora). The business is vertically integrated through a Montreal-based in-house lens manufacturing laboratory. Underlying technology includes proprietary IRIS AI for detecting and staging eye diseases during examinations, digital retinal imaging, automated peripheral vision screening, 3D facial and pupillary distance scanning for virtual try-on, and AI-assisted voice systems for appointment scheduling. Supporting channel infrastructure includes an e-commerce storefront, online appointment booking, contact lens renewal with free shipping, and loyalty programs (Advantage, Privilege).

IRIS makes money primarily through one-time retail transactions on frames and lenses, professional service fees for eye exams, recurring contact lens subscriptions (daily, weekly, monthly), and transaction-fee revenue financed through Affirm installment lending. The company operates as a subsidiary of New Look Vision Group, with geographic reach confined to Canada; insurance claims are submitted on behalf of customers to most major Canadian insurers, and Quebec RAMQ covers exams for patients under 18 and over 65.

Name

IRIS

Legal name

IRIS The Visual Group

Website

https://iris.ca

Company type

Private

Founded year

1989

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

IRIS is a Canadian optometry and eyewear retailer operating 300+ locations nationwide, offering eye exams, prescription glasses, sunglasses, and contact lenses to mass-market consumers with proprietary AI-assisted diagnostics and an in-house Montreal lens lab.

Ownership category

akta.pro rank

Product category

Retail Optometry and Eyewear

NAICS

Offices of Optometrists (62132), Optical Goods Retailers (45613), Ophthalmic Goods Manufacturing (339115)

SIC

Ophthalmic Goods (3851), Services-Offices & Clinics Of Doctors Of Medicine (8011)

akta.pro primary industry

Optometry Clinics (Primary Eye Care) (HLAKAKAB)

akta.pro secondary industry

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

Keywords

• Retail optometry services
• Prescription eyewear
• Eye examinations
• Contact lens sales
• Designer sunglasses

Headquarters

HQ city

Saint Laurent

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D, Supply Chain

Revenue model

1. Prescription Glasses and Sunglasses Sales: One-time product sales of prescription eyeglasses and sunglasses. Products range from budget-friendly options to premium designer brands. Includes frames, lenses, and finishing. Revenue generated per transaction with no recurring component for the product itself.
2. Eye Examination Services: Professional optometric services provided by licensed Optometrists and Ophthalmologists. Eye exams typically range from $110 to $150 in Canada. Appointments booked online or in-store.
3. Contact Lens Sales: Contact lenses sold with options for daily, weekly, and monthly disposables. Online renewal system for existing customers. Includes adjustments and monitoring services.
4. Financing Services: Partnered with Affirm to provide financing options for customers, allowing them to pay for eyewear over time. IRIS receives full payment while customers pay Affirm in installments.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels6 records

Core offering

IRIS operates a nationwide Canadian chain of optometry clinics that deliver professional eye examinations by licensed optometrists and ophthalmologists and sells prescription eyeglasses, sunglasses, and contact lenses through its physical retail network and e-commerce storefront. Offerings span budget to premium designer brands, exclusive house brand LYA, and exclusive lens collections (Apogee, Palma, Axiora), supported by in-house lens manufacturing in Montreal and AI-assisted diagnostic technology.

Product overview

IRIS is a Canadian eyewear retailer and optometry chain offering a comprehensive product portfolio centered on prescription glasses, sunglasses, and contact lenses. The company operates over 300 optometry locations across Canada with its own lens manufacturing laboratory in Montreal. Product offerings include prescription and non-prescription eyewear across multiple price points—from budget-friendly house brand LYA to luxury designer brands like Tom Ford, Gucci, and Chanel—as well as specialty lenses (Transitions adaptive lenses, Avulux migraine-relief lenses) and major contact lens brands (CooperVision, Acuvue). Services include eye examinations with AI-assisted disease detection, virtual try-on technology, and online appointment booking. The company is part of New Look Vision Group.

Differentiator

Problem solved

Functional benefit

Brands

• LYA (Love You All): Exclusive eyewear collection designed to celebrate individuality and fashion sense. House brand of IRIS.
• LYA Kids
• Palma
• Apogee
• Axiora
• IRIS - AI

Products and services

• Eye Exams Comprehensive eye examinations performed by licensed Optometrists or Ophthalmologists, including digital retinal imaging, AI-assisted disease detection, peripheral vision screening, and vision testing. Fees range from $110 to $150 across Canada.
• Prescription Glasses Prescription eyeglasses with a wide selection of frames for men, women, and children across multiple designer and house brands, frame shapes, and materials. Pricing ranges from $152 to $705+ for designer brands.
• Sunglasses Non-prescription and prescription sunglasses offering UV protection, available in designer brands including Ray-Ban, Oakley, Maui Jim, Gucci, Tom Ford, and others. Prices range from $115 to $764.
• LYA Eyewear Collection IRIS's exclusive house brand eyewear collection celebrating individuality and fashion sense, available for adults (LYA) and children (LYA Kids) with durable, flexible frames designed for active lifestyles.
• CooperVision Contact Lenses CooperVision contact lenses featuring MyDay daily disposables, Biofinity toric for astigmatism, multifocal options, and MiSight for myopia control in children, with a plastic neutrality commitment.
• Acuvue Contact Lenses (Johnson & Johnson) Johnson & Johnson Acuvue contact lenses including OASYS MAX, OASYS 1-Day HydraLuxe, and Vita lines with advanced comfort and UV protection technologies.
• Contact Lens Renewal Service Online reordering service for existing contact lens customers with free shipping and hassle-free renewals processed by dedicated opticians.
• Transitions Adaptive Lenses Adaptive lenses by Transitions that automatically adjust to changing light conditions, feature Gen 8 technology with faster activation, block 100% UVA/UVB rays, and reduce blue light exposure.
• Avulux Migraine-Relief Lenses Clinically proven lenses that filter wavelengths triggering migraines and light sensitivity, allowing 40% more soothing green light through, sold with an unconditional IRIS guarantee.
• Kids Eyewear Package Complete children's eyewear package starting at $219, including durable, flexible frames and lenses designed specifically for children with active lifestyles.
• Prescription and Designer Sunglasses Designer-brand sunglasses spanning prescription and non-prescription lines, including Tom Ford, Ray-Ban Jr, Gucci, Oakley, Maui Jim, and others, offered as one-time product purchases.
• Eye Surgery Referrals Refractive surgery and other eye surgery procedures referred through IRIS's network of over 300 eye care professionals.

Quantifiable outcome

• AI technology makes it easier and faster to detect eye diseases during examinations
• +2 more outcomes

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability6 records

Feature5 records

Partnerships

Five partnerships are on record, tiered core and minor.

• TransitionscoreTechnology or IntegrationTransitions adaptive lenses that adjust to changing light conditions are offered at IRIS. Features Gen 8 technology with faster activation, enhanced darkness, and quick clearing. Blocks 100% UVA/UVB rays and reduces blue light exposure.
• CooperVisioncoreTechnology or IntegrationCooperVision contact lenses offered at IRIS including MyDay daily disposables, Biofinity toric for astigmatism, multifocal options, and MiSight for myopia control in children. Includes plastic neutrality commitment.
• Johnson & Johnson (Acuvue)coreTechnology or IntegrationAcuvue contact lenses by Johnson & Johnson offered at IRIS, featuring OASYS MAX, OASYS 1-Day HydraLuxe, and Vita lines with advanced comfort and UV protection technologies.
• AffirmminorChannel Partner/ Reseller/ DistributorFinancing partner providing installment payment options for eyewear purchases. Allows customers to pay over time (O.A.C.). IRIS receives full payment upfront while customers pay Affirm.
• New Look Vision GroupcoreOthersParent company and head office. IRIS is part of New Look Vision Group which owns the IRIS brand. New Look Vision Group can communicate with customers about products and services and collect additional information.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Clearly (formerly ClearlyContacts): Canadian online optical retailer selling glasses, sunglasses, and contact lenses. Same core product categories as IRIS, with a stronger online-native model that competes for IRIS's digital customers.
• LensCrafters: EssilorLuxottica-owned North American optical retail chain combining eye exams with prescription eyewear and designer brand assortment. Closely comparable to IRIS on retail optometry + branded eyewear model.
• Warby Parker: Vertically integrated DTC eyewear brand offering prescription glasses, sunglasses, and contact lenses with home try-on. Directly comparable on product mix and omnichannel strategy, though purely consumer-direct and U.S.-focused.
• Pearle Vision: Multi-brand North American optical chain offering eye exams, prescription eyewear, and contact lenses via franchised and company-owned stores. Comparable retail-optometry operating model with similar product and service mix.
• Visionworks: U.S. optical retail chain offering eye exams, prescription glasses, sunglasses, and contact lenses with insurance plan integration. Comparable full-service retail optical model, though concentrated in the U.S.
• Specsavers: Large optical retail group with Canadian operations combining eye exams with prescription eyewear at value-oriented price points. Comparable clinic-plus-retail model, with stronger private-label lens positioning.

Regional players

• Hakim Optical: Canadian optical retail chain offering eye exams, prescription glasses, and contact lenses across multiple provinces. Closely comparable Canadian retail-optometry peer with similar product breadth and price positioning.
• BonLook: Canadian eyewear brand selling prescription glasses and sunglasses online and through its own retail locations, including proprietary house brands. Comparable on Canadian retail optical and house-brand strategy.

Broad incumbents

• Costco Optical: Optical department inside a major big-box retailer offering eye exams, prescription eyewear, and contact lenses at value pricing. Competes with IRIS on price-sensitive exam and eyewear basket, but is a small piece of a much larger retail portfolio.

Emerging players

• EyeBuyDirect: Online-first eyewear retailer selling prescription glasses, sunglasses, and contact lenses at value prices. Comparable digital-native optical model, exerting pricing pressure on traditional chains like IRIS.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Instagraminstagram.com/irisvisualgroup

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 IRIS