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OGI Eyewear Announcement: Pricing Updates and Dealer Partner Program

June 1, 2020


Hello Valuable Partners:


My sincerest hope that everyone is remaining healthy and diligent during a very trying time. We all are looking forward to a return to normalcy as soon as it is possible to do so safely.


I wanted to reach out and let you all know what has been happening at OGI during this pause that has been thrust upon us all.

The State of Things at OGI


First, I am very proud to say that our team and our facility is 100% employed, operational and in compliance with the necessary social distancing and recommended health and safety guidelines.


We are ready when you are ready. Our customer service and shipping departments have never ceased to be available and on a bright note we are seeing an uptick in call volume these last couple weeks.


During the last 10 weeks, we have been given some additional time to clean and organize our warehouse and from an operation perspective, we have also had the time to assess some of our current policies and procedures.


Pricing Updates

For well over a decade now, OGI and its brands have focused on being a leader in affordable luxury. We have consistently produced very high quality products, using the best in raw materials at extremely competitive, comparable prices. Our costs for doing this have continuously been increasing, but we’ve held the line and not passed any of those costs through. As of late, we have negotiated very hard with our suppliers to really focus on the supply costs and now have a more stable and consistent cost structure in place. We can now make some additional changes on our pricing without sacrificing quality.


It is in that vein that we are very excited to announce some important changes in our pricing and our discounting in addition to announcing the launch of a new dealer partner program.


As a starting point, OGI list pricing, which has been averaging over $100, is now going to drop significantly. Acetates will be priced at $80, Metals (stainless) will be $85 and Combinations frames will be $87. Based on sales, this equates to an average decrease of 20% in OGI prices.


Seraphin, which has always had more expensive components in its construction, has always been priced slightly higher than OGI. Our costs on this collection have consistently risen, but similar to OGI, we have not increased our pricing on this brand for quite a few years. We have also negotiated with our suppliers and have gotten to the point where we feel we have stabilized this situation, but even with that realize that we need to make an adjustment upward in pricing for this collection. The average increase in price for Seraphin will be approximately 5%.


As a final point, there will be no changes in the list pricing for Red Rose, Bon Vivant, or SCOJO.


Dealer Partner Program


We feel that building a long-term and mutually beneficial partnership with our accounts is vital and necessary for independent brands like us, and independent sellers like you, to achieve a shared long-term success.


We want to be able to consistently provide innovative and well-made high quality products at a competitive price point. We also want to provide you with the best possible combination of acquisition cost and earned additional benefits.


Since our plan is to create a mutually beneficial symbiotic relationship, we are preparing to launch our Dealer Partner Program. Dealer partner levels will be based on your year-end 2019 volume of business. Each level has increasing benefits and will strengthen our partnership.


We will be providing a separate communication with a full listing and explanation of this new program.

Our Staying Healthy Plan


Our plans are two-fold when it comes to keeping our customers, our staff and representatives safe while being in the field.


At the distribution facility and office in Minnesota, our staff has their temperature taken prior to entering the building as well as being reminded regularly of the social distancing requirements. We also have hand sanitizer readily available.


Our frames will be disinfected in one of several ways. We have invested in UV-C technology as well as several liquid disinfecting solutions to make sure any frames that are touched will be disinfected before they can be sent out to you.

Further, our representatives will all have a Hygiene pack with them which will contain gloves, masks, face shields, hand sanitizer and a portable UV-C sanitizing box to disinfect any frames that may be tried on during a visit. They will also have disposable masks and gloves for you to wear during the visit and selection process.


In Summation

We have spent a lot of time and effort to make this newly revised pricing and Dealer Partner Program as one that promotes the financial well-being of both of our organizations, but in addition we are looking forward to building stronger, long term relationships with fellow independents like you.


Our goal is to be a valued partner who can deliver the type of products that you are looking for at varying price points which can fill your many needs as a retailer. We look forward to building our combined futures together.

Please stay safe and healthy as we strive to be a valued resource in the process of you ramping your businesses back to full strength.


Thank you all for your continued support, it is truly appreciated.


Rob Rich

President,

OGI Eyewear



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