Vision Express envisions 550 stores by 2015

Vision Express, the eyewear specialty store, a joint venture

between India’s Reliance Retail and Netherlands’ GrandVision BV, has opened its 103rd store at the up market MG Road in Bangalore. The present market size of eyewear is estimated at Rs 4,000 crores but less than one-tenth is in the organized retail hands. Vision Express has set itself the ambitious target of opening 550 stores in the next five years. However, it has consciously kept franchisee operated models out of the picture as it fears that poor quality of store employees could ward away customers. Bijou Kurien, President and CEO Lifestyle, Reliance Retail feels no other organized retail player has managed to ramp up so fast. He says they have set up their own outlets everywhere and the store target will be reached with that intent. The brand is still able to offer spectacles at Rs 349 with frame plus lenses. This has helped them keep the price positioning between the organized and independent retailers.

Vision Express has decided not to limit itself to just urban centers even though it is now present in 25 cities. According to Kurien, selling eyewear products in the smaller towns has been a more profitable experience since organized competition is virtually absent. Apart from smaller towns, Vision Express is also hopeful that the fashion-conscious mentality of urban youngsters to devices rather than the medical tag for eyewear earlier will drive customers inside its stores.

Guillaume Brouwet, CEO, Vision Express sees India as a huge market. He believes they can be a reference point for the customers. GrandVision, is a leading optical retailer with various retail firms and formats, it brings in optical retail skills, technology and a wide selection of products. Reliance Retail on its part brings in access to markets as it is present in over 85 cities, scaling up strategies, co-location opportunities with over 1,000 stores and understanding of Indian customers.