Coral Eyewear acquires Pala
The sustainable business will acquire Pala Eyewear’s stock, trademarks and digital infrastructure, and plans to continue the charitable work of the eyewear brand
29 November 2023
Sustainable business, Coral Eyewear, has acquired the Pala Eyewear brand.
The acquisition will expand Coral Eyewear’s portfolio, while the team also plans to continue the charitable work of its fellow sustainability-focused brand.
Pala Eyewear was founded in 2016 by John Pritchard around the principle of “giving back” and supported more than 28,000 individuals to receive accessible and affordable eye care through sales of its eyewear. The business received B-Corp status in 2020.
However, the brand closed in September, citing market pressures, inflation and the cost of living.
The acquisition follows a Crowdcube investment raise by Coral Eyewear, which saw over 200 pledge more than £260,000.
George Bailey, one half of the father-and-son team behind the sustainable brand, Coral Eyewear, said of the agreement: “A full purchase of Pala Eyewear’s stock, trademarks and digital infrastructure will allow Coral to expand the choice available to existing stockists.
“Bringing on board Pala’s array of knowledge and high-quality collections allows Coral Eyewear to increase its ever-growing share of voice in the eyewear industry, as we continue to seek ways to implement more purpose-led, sustainable change,” he added.
Following the acquisition, Pala Eyewear’s online store has relaunched. The brand’s spectacles range is expected to be sold within more independent optometrists.
Calvin Bailey highlighted Pala’s commitment to “people and the planet.”
“They have set the ethical standard for responsible eyewear products and manufacturing over the past decade, while simultaneously creating positive social and environmental impact,” he said, adding: “We plan to continue the brand’s work in the charitable sector and integrate this with Coral’s use of recycled and bio-based materials.”
Pritchard, founder of Pala Eyewear, commented: “This is a great opportunity for Pala. George and Calvin have real ambition in the sustainable eyewear space and there is a clear and obvious synergy between the two brands. I have no doubt Pala is in good hands and I look forward to watching the continued growth of both product and impact work for many years to come.”
“The success of Pala can be measured in the legacy it leaves behind in Africa”