OPTIQUE mulls franchise expansion

OPTIQUE, a Delhi based eye wear and hearing aid retail company, has engaged the expertise of Francorp for strategic franchise expansion pan-India.

Ajeet Bharadwaj, Managing Director, OPTIQUE says, “We see a great opportunity in urban and semi urban market of India. Our major customer base in eye wear caters to the age group of 25 to 70 years while in hearing aid sector it is between 45 to 70 years of age. We target three to five showrooms in metros and two to three in state capitals and tier-I cities. For the initial phase of franchise operation, OPTIQUE will target north India. After setting up and running profitability in this region, the product will be rolled out pan-India.”

OPTIQUE is a 23 years old company having 10 showrooms in NCR, Chandigarh and Pune, which is famous for product quality and multi brand. The franchise expansion with strategic plans of Francorp will help develop the same credibility in new markets.

Commenting upon this pioneering initiative, Gaurav Marya, Managing Director, Francorp said, “The eye wear and hearing aid market is a highly unorganised in India. Each city has its own local competitors having their own customer base so it is very difficult to identify competition as it varies from one place to another. This market is highly dominated but has limitations in product offering and quality. OPTIQUE has an opportunity to build brand along with the established competitor players to capture the organised market. We will ensure right expansion strategy at right location at right time in order to make the product successful globally.”

The company will have one of the first mover advantages which will maximise the market share and can build the brand along with the established players.