HIMALAYA OP­TI­CAL

Images Retail - - MARKET DYNAMICS -

Since their in­cep­tion in 1935, Himalaya Op­ti­cal has been en­sur­ing their con­sumers with qual­ity prod­ucts. The sole aim of the brand is to strike an ideal bal­ance be­tween qual­ity and trend. The store has an ar­ray of prod­ucts, which in­clude de­signer frames, branded sun­glasses and con­tact lenses. Hi­malya Op­ti­cal cur­rently has 117+ op­ti­cal re­tail stores spread across ma­jor cities of In­dia.

The Odisha Mar­ket & Growth Rate

“There is no spe­cific data avail­able on the size of the op­ti­cal mar­ket in the re­gion. The ser­vice sec­tor in Odisha has grown in line with all of In­dia and is es­ti­mated to grow by 12.8 per­cent in 2018-19. These pos­i­tive in­di­ca­tors are good enough for any re­tail brand to in­crease its re­tail pen­e­tra­tion in the state,” says Sarat Bi­nani, Di­rec­tor, Himalaya Op­ti­cal.

“In terms of the op­ti­cal mar­ket, more than 90 per­cent of it is still un­or­gan­ised with hardly any home­grown player hav­ing more than three stores in the city. This in­di­cates a huge op­por­tu­nity for us as well as any other re­tail chain in any ver­ti­cal to grow its foot­print in Odisha,” he adds.

Mar­ket­ing Strat­egy

In or­der to cre­ate a strong foothold in the Odisha mar­ket, the brand has in­tro­duced pocket-friendly eye­wear at one price point for those con­sumers look­ing for an af­ford­able so­lu­tion for their eye care needs. They also house eye­wear from in­ter­na­tion­ally renowned brands for con­sumers who de­mand lux­ury eye­wear.

“Cur­rently 8-9 per­cent of our rev­enue comes from Odisha and we are look­ing at 10-12 per­cent growth rate year on year in the next cou­ple of years. The in­crease of the num­ber of malls in the state is also act­ing as a cat­a­lyst to grow our re­tail pres­ence here,” says Bi­nani.

“We in­tend to add at least 5 more stores by 2020. Presently we have 4 op­er­a­tional stores in Bhubaneswar, 2 in Cut­tack, and 1 each in Rourkela, Ber­ham­pur and Jhar­sug­uda. We would be launch­ing fifth store at Es­planade One Mall shortly,” he adds.

The Im­pact of Tech­nol­ogy

Dig­i­tal­i­sa­tion is a buzz word in the op­ti­cal re­tail in­dus­try cur­rently. Himalaya Op­ti­cal heav­ily re­lies on tech­nol­ogy of op­ti­cal dis­pens­ing by in­tro­duc­ing Dig­i­tal Eye Ex­am­i­na­tion fol­lowed by Dig­i­tal Frame and Lens se­lect­ing gad­gets and Dig­i­tal Mea­sur­ing sys­tem and fi­nally dis­pens­ing the lenses pro­cessed dig­i­tally.

Its most so­phis­ti­cated lenses are sur­faced on a Dig­i­tal Lens Sur­fac­ing Sys­tem that pro­vides high def­i­ni­tion op­tics, bet­ter clar­ity and con­trast and fa­cil­i­tates night driv­ing by pre­vent­ing glare and haloes around lights.

“To cater to the new gen­er­a­tion con­sumer’s evolv­ing habits, we have in­tro­duced a new way of eye screen­ing where they go be­yond just giv­ing your pre­scrip­tion, and the tra­di­tional mea­sure­ments of PD and fit­ting heights. The in­tro­duc­tion of break­through tech­nol­ogy of the new dig­i­tal dis­pens­ing sys­tem, en­ables the eye care con­sul­tants to cap­ture the nat­u­ral pos­ture or eye move­ments in the form of data so that they are able to cus­tomise the lens to the cus­tomer’s own nat­u­ral move­ments to pro­vide the most ac­cu­rate, lenses for com­fort­able vi­sion,” con­cludes Bi­nani.

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