The Kenmark Group has announced that it is now 100 percent owned by its employees, which is a unique case in the optical industry. Kenmark has about 100 employees at its head office and about 80 more working in the field as sales representatives in the USA. They previously owned about 23 percent of the company's shares. They are raising their ownership through an interesting retirement plan worked out for Mark Kerman, the previous controlling shareholder.
Kerman, who is 57 years old, will continue to run the company. He and all other executives and managers remain in their current positions.
Kenmark does not release financial results, but company officials indicate that the U.S. company grew by about 20 percent last year to around $45 million, thanks in part to new product launches. Most of the sales are in the USA, but the company is making new strides in Europe. Its new Republica line is being adopted by distributors in Germany and other European countries.