Tatas, Reliance compete in eyewear segment

Eyewear is one of the newest segment, which

is showcasing high demand and a flurry of players are trying to capture the market. Tata and Reliance Group are two biggies, battling hard to grab a larger pie. Both groups are setting up outlets that sell spectacles, sunglasses, contact lenses, solutions, etc in places such as Coimbatore, Vapi, Vizag, Amritsar, Tuticorin, Guntur and Gulbarga along with the metros.

Experts say, eyewear as a segment is showing potential with organised retail picking up in almost every domain and so giants like Tatas and Reliance are taking up various initiatives to emerge winners in the category. The reason behind growing demand is attributed to people getting aware of the need for good quality eyewear, apart from growth in disposable incomes.

The optical market is roughly estimated at Rs 3,000 crores, as per industry data, out of which only 15-20 per cent is ruled by the organised sector, with mom-and-pop outlets that measure 200 sq. ft. dominating the rest. The segment is witnessing 20 per cent year on year growth, and brands are offering a starting price range of Rs 500 and Rs 300 for frames and lenses that goes up to Rs 35,000 or Rs 1 lakh.. Companies are also realising the need to expand in untapped areas so both Reliance and the Tatas are looking at launching stores. Vision Express, for example is being planning to add around 30 outlets by March to the current 171, whereas Titan Eye Plus wants to reach 500 outlets in three years from the current 210 stores.