– UK, Bath – Inspecs Group plc (LON: SPEC), a designer, manufacturer and distributor of eyewear frames and prescription lenses to the optical trade, today announced the appointment of Shaun Smith and Hugo Adams to ts Board as Non-Executive Directors effective immediately.
“I am delighted to welcome Shaun and Hugo to the Board of Inspecs. Shaun has extensive PLC experience having held a variety of finance roles in international manufacturing and retail groups, whilst Hugo brings significant experience in the retail sector and a proven track record of delivering growth for purpose-led consumer brands,” said Founder and Executive Chair, Robin Totterman.
The company also announced that Richard Peck, who has served on the Board as a Non-Executive Director since January 2020, today assumes the role of Group CEO.
Shaun Smith will also join the Audit & Risk and Remuneration & Nomination Committees, while Hugo Adams will join the Audit & Risk, Remuneration and Nomination and the newly formed Environmental, Social and Governance committee.
About Richard Peck
With over 35 years’ experience in the optical industry, Richard brings a wealth of knowledge having previously been Managing Director of Luxottica Retail Northern Europe and Managing Director of David Clulow opticians.
About Shaun Smith
Shaun Smith has extensive plc experience having previously held CFO roles with Norcros plc and Aga Rangemaster Group plc. In his role at Aga Rangemaster Group plc, Shaun Smith helped oversee the transformation of the business into an international brand-led manufacturer and retail group. Shaun Smith has served as a Non-Executive Director on public company Boards since 2016 including as Audit Committee chair. He is currently a Non-Executive Director of Epwin Group plc.
About Hugo Adams
Hugo Adams has more than 25 years’ experience working for some of the biggest and best-known, global consumer brands including The Body Shop and running marketing and international expansion at Dyson. During nine years at Marks and Spencer Group PLC he managed businesses across Europe and the Middle East, as well as being Chief of Staff to the CEO and subsequently Property Director. Hugo Adams served on the Executive Board at Superdry Plc, responsible for marketing and business development and most recently as CEO of Start-Rite Shoes.
About Inspecs Group plc
INSPECS is a Bath-based designer, manufacturer and distributor of eyewear frames and optically advanced spectacle lenses. The Group produces a broad range of frames and lenses, covering optical, sunglasses and safety, which are either “Branded” (either under licence or under the Group’s own proprietary brands), or “OEM” (including private label on behalf of retail customers as well as unbranded).
INSPECS aims to be the leader in eyewear solutions through its vertically-integrated business model and has adopted a three-pillar growth strategy to achieve this: (i) continue to grow organically; (ii) undertake further acquisitions (and drive value through leveraging the Group’s internal capabilities); and (iii) extend the Group’s manufacturing capacity.
The Group has completed several significant acquisitions since its IPO in February 2020. In December 2020, INSPECS acquired Eschenbach, a leading global eyewear supplier, headquartered in Nuremberg, Germany, which includes the American company Tura. This followed the acquisition of lens maker Norville in July 2020, whereby INSPECS combined two British heritage brands, Savile Row frame maker, and Norville lens maker, further enhancing its vertically-integrated business model. In December 2021 the Group acquired Ego Eyewear, a design and licensing company which uses third party eyewear manufacturers to produce premium fashion brands, and BoDe, a distributor of optical frames and sunglasses principally to the German and neighbouring markets.
INSPECS customers include global optical and non-optical retailers, global distributors and independent opticians, with its distribution network covering over 80 countries and reaching approximately 75,000 points of sale.
INSPECS has operations across the globe: with offices and subsidiaries in the UK, Germany, Portugal, Scandinavia, the US and China (including Hong Kong, Macau and Shenzhen), and manufacturing facilities in Vietnam, China, the UK and Italy. With the acquisition of Eschenbach, the Group’s international reach further extends across Europe and the American markets.
For more information : https://inspecs.com/
- Disclaimer - News, data, and statements included in this release are intended exclusively for general information purposes. Talent4Boards does not guarantee that news is accurate or about the correct person and accepts neither liability for the consequences of the reader’s reliance, nor responsibility for the accuracy of the information. Nothing in this release should be considered for decisions about referred securities. Products and brand names may be trademarks or registered trademarks of their respective owners.