Eyewear group Luxottica has sold its Bright Eyes brand back to two businessmen who owned the sunglass business for eight years.

Ralph Edwards and Geoff Harbert were part of a local consortium that had bought Bright Eyes Sunglasses in 2000 and they expanded the business from 80 to 140 franchisees.

In 2007 the sunglass business was sold to Oakley Inc, which later joined the Luxottica portfolio that includes OPSM, Budget Eyewear and Laubman & Pank.

Now Edwards and Harbert have negotiated an agreement with Luxottica to buy back the business of 50 retail stores in Australia.

Edwards [pictured below] said “Bright Eyes is a great business with a bright future and there has not been a day that we have not regretted selling it. Geoff and I are very passionate about the business. We have been a winning combination before and have joined forces to do it again.

He told Franchising “Luxottica is a very good company but this was the right opportunity and the right time. They’re still very much a part of it through supplies.”

As part of the agreement Luxottica will continue to supply to Bright Eyes top-end sunglass brands such as Prada, Dolce & Gabbana and Versace.

There are no plans for immediate expansion, or to change any systems, Edwards said.

“We want to steady the ship. We have no grandiose plans and will be looking for opportunities as they present.”

Edwards said franchisees will not notice much of a difference under the new ownership.

“It’s business as usual. They are our systems that Luxottica has built on, and there is no reason to reinvent the wheel. Bright Eyes has got history, strength and processes.

“We will be working closely with the Bright Eyes franchise partners to drive the business forward, strengthen the brand and maximise its presence and growth potential.

“We want to support franchisees as much as possible,” he said.

• Edwards will continue working as a consultant to retail businesses. He has more than 25 years experience in owning and operating retail businesses and is the President of the Franchise Council of Australia (FCA) Queensland State Chapter.