Coastal Contacts Inc.

Coastal Contacts Inc.

October 08, 2008 10:59 ET

Coastal Contacts Signs Partnership With European Lasik Chain

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 8, 2008) -


Coastal Contacts Inc. ("Coastal") (TSX:COA) today announced its wholly owned European subsidiary, Lensway AB, has signed a exclusive partnership agreement with Memira, the number one provider of laser vision correction in Scandinavia.

Memira was established in 2007, as a merger between the leading chains of eye laser clinics in Denmark, Norway and Sweden. With 34 clinics across Scandinavia, and 8 in Germany, Memira is one of the major providers of first class laser eye surgery care in Europe.

The partnership includes co-marketing of laser vision correction services to Lensway clients in Scandinavia on shared revenue basis and referral of Lensway customers to Memira for eye exams.

"This partnership represents an important step forward in our quest to offer customers a complete vision care solution," said Dan Grappengeiser, Lensway's Chief Business Development Officer. "Lensway enjoys a dominant market position in the direct to consumer contact lens business and recently entered the eyeglasses marketplace. Our strengths will complement those of Memira as we do not compete directly in any product category. We see this as an ideal opportunity to generate incremental revenue from customers that are considering laser vision surgery and provide our customers with eye exams from the industry leader. We are delighted with this partnership."

Added Roger Hardy, Coastal Contacts' President and CEO, "We see this partnership as a catalyst transaction where leading companies in the vision care industry are recognizing the value we bring to the table. We expect to see more of these types of partnerships in the future."

About Coastal Contacts Inc.:

Coastal Contacts Inc. ( is the world's leading direct-to-consumer vision products company which designs, produces and distributes a diversified offering such as contact lenses and eyeglasses. The Company's unique combination of branded and private label products represent quality, value and above all, service. Coastal sells into more than 150 countries through proprietary web properties which reflect the culture and consumer preference of the target market. As new markets for eyeglasses and contact lenses evolve, the Company is positioned to become the vision product consumer's retailer of choice owing to its unbeatable value proposition combining value and service. Already No.1 in many of its markets, Coastal is rapidly advancing toward its goal of becoming the "World's Optical Store".

This news release contains certain forward-looking statements that reflect the current views and/or expectations of Coastal Contacts Inc. with respect to its performance, business and future events. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, those relating to changes in the market, potential downturns in economic conditions, consumer credit risk, limited suppliers, inventory risk, disruption in our distribution facilities, foreign exchange fluctuations, changes in business strategy, regulatory requirements, demand for contact lenses and other vision care products, competition and dependence on the internet. These risks, as well as others, could cause actual results and events to vary significantly. Coastal Contacts does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements.

Neither the TSX nor any other regulatory body has reviewed and therefore does not accept responsibility for the adequacy or accuracy of this release.

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