Advertisement

Specsmakers is one of the up-coming leaders in the Indian eyewear industry. A relatively young organization with only 5 years of experience in retail, Specsmakers has shown phenomenal growth curve, from a single outlet in the beginning to 4 outlets at present. After earning exemplary success in the eyewear domain, this brand is now envisaging an ambitious expansion of its retail footprint across India through franchising route, by hiring strategic expertise of Francorp. Francorp is a part of Franchise India Group, which is Asia’s largest integrated Franchise and Retail Solutions Company that specializes in providing innovative solutions to its global Clientele.

The sheer USP of Specsmakers lies in its product quality, niche marketing strategies and value for money offerings for its eagerly awaiting customers. Specsmakers offer an array of products in both core category such as spectacles, as well as non-core category such as sunglasses, contact lenses, lens solution, optical lenses and services such as eye-testing facilities along with expert optometrists at their outlets. Backing its qualitative offerings with various customer loyalty programs, free servicing offers and concrete product guarantees covering diverse circumstances, Specsmakers is pursuing an aggressive customer relationship based marketing approach to grab a larger chunk of the Indian eyewear space.

Pratik Shah, MD, Specsmakers said on this association “The competitive edge of Specsmakers lies in its extensive product range, value offerings and a lean inventory management system. We are majorly targeting the middle class with a purchasing power of Rs. 1000 to Rs 3000, followed by the upper middle class with a purchasing power of upto 8000 and finally the high class looking for exclusivity with a purchasing power of above 10,000. Francorp will assist us in establishing feasibility of the concept; propose a sustainable business model for future, positioning, financial assessment of the franchise business, franchisee profiling, potential market & roll out strategy.”

Commenting upon this association, Mr. Gaurav Marya, Managing Director, Francorp, said, “I’m excited to work with Specsmakers for its ambitious expansion program. The total Indian market for eyewear is 2700 crores, of which only 3-5% is organized. The prescription eyewear market in the country was Rs 1,350 crore in 2009, growing at 15 – 20% a year. In volume terms, the market is estimated to be around 25 to 30 million units a year.”

Further adding, “Despite the presence of major global brands, Indian customers typically leave the choice of lens to the optician as a trend. For a brand conscious urban Indian, eyewear is more of a style statement than a basic need. In order to capitalize on these evolving market dynamics, Specsmakers is now on the lookout of franchisees that can help the company acquire a PAN-India footprint post Tamil Nadu operations in first phase. Specsmakers would provide all possible help to its franchisees so as to help them become operational and profitable in a short span of time.”