The global eyewear market valued at USD 85 billion in 2013 is expected to touch USD 130 billion by 2018 at CAGR of 6%, while the Indian optical industry is likely to grow at a CAGR of 30%.
This robust growth is expected to continue on the basis of changing consumer preferences and awareness. Moreover, nowadays eyewear has become more of a fashion accessory & lifestyle product. Further, contact lens market in India is growing approximately at 25% CAGR. As per study, around 40 lakh packs of contact lenses are sold annually which account for an estimated market size of Rs. 700 crore.
The size of the organized eyewear segment in India is around Rs. 5200 crore, which is growing rapidly with the launch of Indian and International brands. Leading the market are specialized companies having decades of experience in the eye care segment. In this, Himalaya Optical is one of the most experienced retail chains of optical stores that has been operation for over 80 years now.
Eyewear industry is largely unorganized in India.
Prescription eyewear market is set to be INR 8500 crore with the sale of 45 crore pieces of glass lenses.
Asia & America are the largest markets for ophthalmic lenses, accounting 63% of the total market.
Units of Gujarat contribute around 75,000 spectacle frames daily.
Massive Expansion Through Franchising
Heading with the sharp, clear and farsighted vision of expanding its network of optical stores, Vision World Pvt. Ltd. is inviting franchisees for Himalaya Optical across India.
450 sq. ft.
36% (1st year) to
195% (5th year)
Pan India Metros, Tier 1 & Tier 2 Cities
Vision World Pvt Ltd. (the franchisor) will continuously assist franchisees in monitoring and managing the business to make sure that the business practices get implemented at the franchisee end to run it on profit as well as to have satisfied customers.
Complete Set Up:
The franchisor will provide turnkey assistance right from site selection to set up of the store, including layout and design, architectural support, pre-opening purchasing assistance and organizing of launch promotions.
Advertising and Promotions:
The franchisor will organize events specific to marketing and branding of Himalaya Optical at the national level, including participation in expos, sponsoring events, tie ups with publications and much more in collaboration with the franchisees.
The franchisor will pay a major role in stock supply, control checks on goods delivery, replenishment ordering and product range maintenance.
The franchisor will conduct comprehensive training program covering service operations, standard checkup procedures, accounting, inventory control etc. In addition, employees from all verticals would be trained on a regular basis to continuously groom and enhance their efficiencies.
The franchisor will provide an Operations Manual to maintain uniformity and operate franchise set up as per franchisor guideline.
The franchisor will appoint a Franchise Coordinator to bridge the communication between the franchisee and the franchisor.
The franchisor will also facilitate franchisees in: Ordering of equipment; Preparation and issue of PO to approved vendors; Negotiation of suitable terms and organizing of lease; Monitoring of fabrication of the store, besides providing regular assistance in the service operations.
The franchisor will have dedicated Problem-solving and Audit teams to help franchises in resolving issues and problems related to accounting/inventory management.
The franchisor will ensure regular coverage at national and regional level, besides helping in centralized brand building through print, outdoor, web and electronic media.
To reach out to the young adults and busy professionals, and to provide an Omni channel experience to its patrons, Himalaya Optical is all set to launch its E-commerce site. Some of the renowned brands that will be available online through Himalaya Optical include Tommy Hilfiger, ESPRT, FCUK, Ray Ban. IDEE, United Colors of Benetton, Opium and many more.
Vision Care on Wheels (VOW):
As part of its CSR initiative, the company runs a Free Screening Program called Vision Care on Wheels (VOW) for corporate companies, schools & colleges, social clubs and charitable associations. Designed by the expert optometrists of Himalaya Optical, VOW program's aim is to make India Blind free. Some of the corporate houses availing VOW services are Airtel, Jindal Steel & Power, Bosch, Bharat Petroleum, Hindustan Petroleum, IBM and Siemens.
School Of Optometry:
Himalaya being one of the leading brands in the field of eyewear, operates Krishanalaya School of Optometry. It is an industry supported institute for education & training in optometry and various job oriented short term training programs focused on employability enhancement of the aspirants in eyewear and eye care industry.
Awards & Accolades:
For its vision & commitment towards customer satisfaction, Hiamlaya Optical has been honored with: "The Most Admired Optical Retailer Award" for three consecutive years (2010, 2011, and 2012) at the Awards for Shoppers & Consumer Insights held in Mumbai.