Jaipuria Group acquires eyewear brand ClearDekho

Entrackr · 1d

Eyewear brand ClearDekho has been acquired by the Jaipuria Group. The acquisition marks ClearDekho's expansion as a national eyewear brand and indicates its focus on providing eyewear to a wider population in India. According to a press release, the Jaipuria Group will acquire full ownership of ClearDekho by taking a 100% stake, with all existing shareholders set to exit within two years. While ClearDekho will continue to operate as an independent brand, the business will now be fully managed by the Jaipuria Group. As the business matures, it may be integrated into the group’s parent entity. However, the company did not disclose the deal size. Founded in 2017 by Shivi Singh, ClearDekho focuses on providing affordable eyewear solutions. It operates as an online and offline retail chain, with a mix of branded online sales and franchise-owned, company-operated (FOCO) stores. It aims to address a gap in the market by offering affordable eyeglasses to low-income consumers in smaller towns and cities across India. The brand offers a variety of eyewear products, including prescription eyeglasses, sunglasses, reading glasses, and contact lenses. ClearDekho aims to scale its operations with a target of achieving Rs 300 crore in topline revenue within the next three years. The long-term objective is to capture at least 10% of India’s eyewear market share within five to seven years. It reported Rs 12.8 crore in revenue in FY24 with Rs 7.13 crore losses. ClearDekho claims to have over 100 stores across more than 50 cities, with a gross margin of over 65%, and has achieved 3x growth in the last three years. The brand says its tech-enabled, omnichannel approach and hyperlocal presence have helped bridge the accessibility gap in the optical retail segment.