EyeGear Optics India Pvt. Ltd. is one of the fastest-growing Indian companies in the optical industry that is reimagining the Indian optical industry and customer value experience by providing high-quality branded products and the latest styles at affordable prices.
Having a current turnover of $35 million, the company has announced its plans to reach $150 million in revenue per annum by 2027. The company has so far raised $8.24 million over two rounds from Asian Healthcare Fund and VenturEast.
“Our company is constantly seeking new ways to disrupt the optical industry by offering millions of customers affordable fashion. Over the years our research has exposed several pain points not only from consumers’ point-of-view but even from the retail point-of-view. There is also a rising prevalence of numerous eye-related issues because of lifestyle changes and increased exposure to screen,” said Raj Pyla, Chairman and Managing Director, EyeGear Optics India Pvt Ltd.
He further added, “A new and expanding generation of technologically savvy customers with high disposable incomes and aspirational lives are also looking for fashionable eyewear. Between our brands - Ben Franklin and Eyegear, we are constantly striving to bridge this gap. We partner with eye hospitals all over India to provide the best-in-class eyewear and eye care. We also support independent mom-and-pop shops with strong supply chains, innovative technology solutions, branding and advertising, retail expertise, and data capabilities.”
“With EyeGear’s tech-enabled platform that provides an extensive range of 2500+ designs and styles that are fashionable, high quality, and very affordable thereby enabling independent mom-and-pop optical retailers to satisfy customers’ growing aspirations. Our goal is to onboard a further 10,000+ optical retailers,” commented Pyla.
Founded in 2008, EyeGear Optics India Pvt Ltd. is the parent company of two leading eyewear brands - Ben Franklin and EyeGear. Ben Franklin, India’s No.1 hospital-based Optical Chain. It is currently present in 26 states, and 250 cities and has 500+ stores. EyeGear is the only end-to-end, one-stop B2B Optical platform for independent mom-and-pop optical retailers that offers the largest collection of good quality, fashionable eyewear products with 2,500+ styles at affordable prices.
Changing lifestyles, growing awareness, and high disposable incomes are growth drivers for the Indian eyewear industry in the coming years. Technological advances, the digital-first approach, and the rich customer experience are setting a new benchmark for eyewear players. The fragmented market, limited penetration in smaller cities and towns, and the untapped independent optician channel are the opportunities that are going to drive growth in this dynamic sector.