Coastal.com

Coastal.com was the only public, pure-play Internet retailer of contacts and eyeglasses until its $430 million acquisition by Essilor International, the world’s leading ophthalmic optics company.

The Story

Coastal.com engaged Liolios to build a U.S., institutionally-focused strategy ahead of its listing on a major U.S. exchange. The company maintained its TSX listing and Liolios supported Coastal.com’s dual-listed structure throughout the campaign.

Strategy & Tactics

  • Evaluated all investor materials and communications history
  • Initiated a broad-based perception study focused on current shareholders and analysts, as well as peer holders
  • Revamped investor presentation and all communication materials based upon both Liolios recommendations and perception study
  • Established a proactive six-month roadmap to help educate the capital markets of the company’s new positioning, including Liolios-sponsored road shows, sell-side conferences and weekly investor calls
  • Committed to a new U.S. investor conference call introduction on a weekly basis and a road show or financial conference at least twice per quarter
  • Coordinated communication efforts with the firm’s analysts to ensure that financial models reflected a full understanding of the Company’s growth plans and key messaging was understood

Results

  • Coastal.com was acquired by Essilor in April 2014 for approximately $430 million (2x revenue)
  • During the engagement, Coastal’s stock price appreciated 160% and liquidity improved more than 500%
  • Institutional ownership nearly doubled
  • Liolios introduced the company to more than 75 qualified institutions over the ~18 month engagement

Company Info

Location: Vancouver, Canada
Industry: E-Commerce
Year of Engagement: 2012

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