GKB Opticals plans retail expansion  ( August '27,2003, The Hindu Business Line)

THE Kolkata-based, Rs 120-crore GKB Opticals group, in the business of manufacturing ophthalmic lenses and other optical products, had formulated expansion plans on the retail front.

Mr Lalit Gupta, Director, GKB Rx Lens Pvt Ltd (part of the GKB group), told Business Line that the objective of expanding the company's retail presence was based on two reasons.

"While have been in the wholesale eyecare business for over four decades and have a customer base of 4,000 opticians, we were not a familiar name with the end-consumer. We wanted that to change. Besides, while we do educate opticians about our own products, we were unable to push sales of these. Our retail stores have been set up as our frontline operations. This way, we can tell end-consumers directly about our lenses and other eyecare products," Mr Gupta said.

GKB Rx Lens closed fiscal 2002-03 with revenues of Rs 32 crore, and is targeting revenues of Rs 40 crore in fiscal 2003-04, according to Mr Gupta.

GKB Rx Lens currently has 13 retail outlets, set up on an operational investment of Rs 6 crore. Another three outlets have been planned this year.

While lenses are GKB's flagship product, the company also retails sunglasses, frames and dispensable contact lenses.

The company has strategic global partnerships with optical majors such as Sola of Australia, French company Corning, Seiko of Japan, Satis of Switzerland and Loh, Germany.

GKB says it is the country's largest Rx lens manufacturer, with a total capacity of producing 5,000 Rx lenses everyday in its labs in Kolkata, Chennai, Kochi, Bangalore, Delhi and Mumbai.

Additionally, 4,000 lenses are daily produced in its mass production plant.

According to industry estimates, the overall eyecare market is estimated at Rs 1,000 crore, with the organised sector accounting for Rs 400 crore.