Vision Express, the joint venture between Reliance Retail and Dutch optical retailer Pearle Europe, plans to open 500 eyewear outlets across the country by 2015 as it aims to be a leading player in the estimated 900-million dollar Indian optical eyewear market.
“We formalised our JV in July last year and started our retail operations in December. We are now looking at rolling out aggressively across India and have at least 500 outlets by 2015,” Vision Express Head (Marketing and Operations) Gijsbert Ackermans said.
The firm has already opened eight outlets in Bangalore, Mysore, Hyderabad, Pune and Delhi in the last two months.
Ackermans, however, refused to share investment plans for the expansion or targeted sales turnover.
“We are willing to tap the entire metro, Tier I and II markets and our aim is to be among the top few players in the Indian optical eyewear market by the end of 2011,” Ackermans said.
The Indian eyewear market is estimated to be around 900 million dollar and the share of organised retailers in it is still minuscule, he said, adding at least 30 per cent of Indians need eyewear providing huge potential.
Vision Express is touting itself as a ‘value for money’ player with sunglasses, contact lenses and frames offered at a price range of Rs 250-15,000.
