My Value Vision plans offline expansion in domestic, overseas market
Eyewear retailer My Value Vision is planning to strengthen its offline presence with the addition of over 100 new stores in the domestic and overseas market in the coming years.
The company is targeting non-metro Indian cities for its domestic expansion and plans to foray into the Gulf markets like UAE for its international expansion.
“The pandemic has changed many business models, and we strongly believe that the customers should be given an opportunity to seek and try eyewear products and eye care facilities in their homes. That’s the reason we work on a hybrid model (online and offline stores),” Prasanna Kumar, chief operating officer of My Value Vision, said in a statement.
“We are expecting to raise an investment of $10 million for scaling up our services, technology and expanding our physical presence by introducing more than 100 plus stores,” Kumar added.
The company had recorded a revenue of Rs 40 crore ($5.4 million) in the financial year 2020-2021.
My Value Vision has partnered with the leading brands like IDEE, Tommy Hilfiger, Ray-Ban, David Jones, Marvel, Teddy, Police, and Carrera, among others to fuel its growth. It currently sells online through its website and has over 60 offline stores across India.
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