Online eyewear retailer Coastal Contacts Inc. (TSX:COA; Nasdaq:COA) has inked a vision plan agreement with a Canadian benefits administrator, the company announced today.
The benefits administrator, which Coastal Contacts declined to name, services around 3,000 employers across Canada.
In an interview with Business in Vancouver, Greg Lechner, vice-president of business development for the company, said Clearly Contacts had previously worked with the BC Human Resources Management Association to promote the eyewear retailer to benefits providers. That agreement helped the company nail down the most recent deal.
Lechner said that since contacts and eyeglasses sold by Clearly Contacts are 30 to 70% cheaper than eyewear sold by competitors, employees would be able to make their vision benefits stretch farther.
“We anticipate that more folks are going to choose Clearly Contacts as a provider for their vision care benefits,” said Lechner.
The eyewear company has also made agreements with Paladin Security and BuildDirect.com, who have about 6,000 employees combined.
The company announced on March 11 that it would open a 1,000-square-foot storefront on Robson Street.
