As rural markets do not have access to proper eyewear as urban centers, ClearDekho is computing the gap, improving the availability of affordable eyeglasses across Tier II, Tier III, and Tier IV cities and town. This Uttar Pradesh based online eyewear marketplace startup was founded by childhood friends Shivi Singh and Saurabh Dayal in December 2016. Consumers can shop from an online optical marketplace where hundreds of sellers list their visual products at competitive prices and can also visit ClearDekho branded optical stores near their house to get a standardized shopping experience at an affordable cost. ClearDekho is India’s Largest Budget Optical Retail Chain offering a combination of function and style, yet at an affordable price.
ClearDekho Exposed the Real Problems of the Non-Availability of Affordable Eyeglasses for Rural Households.
According to some reports, Eighty percent of India’s optical retail market is highly unsystematic and non-standardized, which results in incompatible service to consumers. Eyeglasses available in the market are expensive and out of the financial estimation for most rural populations. Shivi Singh joined hands with Saurabh Dayal, determined to fill the significant need-gap by improving accessibility to affordable eyewear, and started ClearDekho. Few players in the segments like Lenskart, Titan Eye+, and Vision Express have organized retail setups catering to Tier I audience. The supply chain runs through China, which distinguishes them from ClearDekho, where the core belief is to work closely with the ecosystem.
“The eyewear industry in India is growing at 30 percent CAGR, and it is shocking to know that there is only one store available for 70,000 people in India,” says Shivi Singh.
Online 2 Offline Business Model
ClearDekho works on FOCO Model – Franchise Owned Company Operated. Multiple franchise retail stores aimed at deep residential pockets targeting low-income mass-market consumers are opened across the country. ClearDekho has an O2O (Online 2 Offline) business model. Combining both online & offline models helps to connect strongly with the target consumer base and easily capture both the markets. The online marketplace is a light asset model, cuts down inventory carrying costs significantly. In contrast, brick & mortar stores through the franchise model make the entire business highly scalable.
With Latest Infusion of Funds, Replicating Success in Geographies
Since its establishment in 2016, ClearDekho has successfully built over 100,000+ Eyeglasses and served over 1 million customers across India with a mission to ensure everybody has great eyewear experience in the budget. ClearDekho has marked its presence in cities like Delhi, Ghaziabad, Noida, Greater Noida, Gurgaon, Haridwar, Jaipur, Lucknow, Kanpur, Indore, Kota, Agra, Hapur, etc. The company has opened 25 stores across Delhi, Haryana, Uttar Pradesh, Uttarakhand, and Rajasthan within six months. It claims to be serving more than 50,000 customers and opened 54 franchise stores in North India to date. ClearDekho has received funding from investors such as Venture Catalysts, Windrose Capital, and Samyakth Capital. ClearDekho’s main competitors are Lenskart, GKB Opticals, and LensBazaar.
The startup will use the funds to enhance its marketing initiatives, strengthen back-end operations, and hire talent, Shivi Singh, co-founder of the venture, said in the statement.