'The eyewear market is unorganised worldwide'
The eyewear market is unorganised worldwide and the situation is no different in India, writes Vineet Sharma.india Updated: Nov 23, 2007 20:44 IST
Many of the eyewear brands that you promote are also into other accessories and clothing. Do you also hold a licence to market those in India?
We are worldwide licencees of these brands for their eyewear and a 20-year-old company which is very popular in the UK is our partner in India for this business. Aureole is also into other businesses even though eyewear is pretty much our core area. We are eyewear manufacturers in the first place even though we do have the option to get into other accessories. However, before doing that, we would like to pick and choose what we want to manufacture and market here. For the time being though, we want to concentrate on the eyewear segment only.
How different is Animal from the existing eyewear brands promoted by you?
There are similarities and differences. While Animal, like the other brands promoted by us, is a premium eyewear brand, it is also an active sport brand. Though the UK-based company does not produce sports goods, the eyewear it produces relates to active sports such as biking and adventure sports. The target audience for this brand in UK is in the age group of 14-25 years, but here in India we are targeting a group of 18-35 year-olds.
How big is the eyewear market in India?
The eyewear market is unorganised worldwide and the situation is no different in India. However, a survey commissioned by us has revealed that the organised eyewear market in India is worth Rs 1800-2,000 crore and is showing a 40 per cent growth over the next three years. The demand is growing as an increasing number of consumers get more brand conscious. In fact, India is going to be the No1 consumer market for eyewear followed by China in the near future.
So what sells more. Spectacles or sunglasses?
It is hard to put down a figure to this as the demand changes according to the season. Also, optical frames are a huge focus area for us as many of the brands that we promote are leaders in making optical frames. However, depending on the season eyewear and sunglasses sales can be divided into a ratio 60:40 with eyewear getting the bigger number.
Managing Director, Aureole Inspecs