ClearDekho Success Story: How Two Entrepreneurs Built a Million-Dollar Eyewear Company
In the dynamic business landscape of India, numerous startups are emerging, inspiring others to venture into entrepreneurship. One such remarkable success story is that of ClearDekho, a company founded by two individuals who turned eyewear sales into a multimillion-dollar enterprise. Let's delve into the unique journey of ClearDekho and explore how its founders, Shivi Singh and Saurabh Dayal, transformed the eyewear market.
The Genesis of ClearDekho Success
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The Genesis of ClearDekho Success |
ClearDekho, an eyewear company, was established in 2016 by childhood friends Shivi Singh and Saurabh Dayal. Shivi, having observed the lack of access to quality eyewear in small towns and villages, envisioned addressing this issue. Despite holding stable jobs at reputed companies like Wipro, HCL, and Paytm, Shivi and Saurabh decided to join forces and embark on a business journey to make eyewear accessible to underserved communities.
Selling Glasses Both Online and Offline
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Selling Glasses Both Online and Offline |
Armed with valuable experience in their respective fields, Shivi and Saurabh introduced ClearDekho, initially focusing on online sales. In 2018, they expanded to offline retail, opening their first store. Currently, ClearDekho boasts over 100 stores across India, catering to both urban and rural customers.
ClearDekho offers a diverse range of eyeglasses and sunglasses, priced between INR 200 and INR 600, making them affordable for people in smaller towns and villages.
Achieving Million-Dollar Milestones
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Achieving Million-Dollar Milestones |
From its humble beginnings in 2016, ClearDekho has grown into a multimillion-dollar company. In the fiscal year 2022, the company generated an impressive revenue of INR 7.5 crore. The founders' commitment to reaching people in tier III and IV cities has been a driving force behind ClearDekho's success.
The company has secured funding of $13 million from startup investors, leading to a significant valuation. ClearDekho's success is rooted in its mission to provide quality eyewear to people in areas often overlooked by mainstream markets.
The Future of ClearDekho
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The Future of ClearDekho |
Looking ahead, founder Shivi Singh envisions further enhancements to their business model, aiming to elevate ClearDekho to new heights. The company remains committed to delivering affordable yet stylish eyewear to a wider audience, especially in smaller cities and villages.
The Future of ClearDekho
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The Future of ClearDekho |
Key Details:
- Problem Addressed: Lack of affordable eyewear access in smaller towns and low-income communities leads to vision impairment.
- Founder: Shivi Singh and Saurabh Dayal
- Year Founded: 2017
- Market Focus: Tier III & IV cities in North India, expanding nationwide.
- Business Model: Franchise-owned company-operated (FOCO) model.
- Pricing Range: INR 200 to INR 600 for eyeglasses and sunglasses.
- Geographic Presence: UP, Delhi NCR, Punjab, Haryana, MP, Rajasthan, expanding to Bihar, Chhattisgarh, West Bengal, and Assam.
- Financial Performance (FY22): Operating Revenue: INR 7.5 Cr, Loss: INR 6.4 Cr.
- Growth Strategy: Focus on quality, affordability, and expanding user base.
- Future Prospects: Projected growth in the Indian eyewear market, especially for affordable yet stylish eyewear.
ClearDekho's success story serves as inspiration for aspiring entrepreneurs, demonstrating the transformative power of addressing critical needs in underserved markets. Feel free to share this unique journey with your friends and family, and stay connected with khabarfactoryindia.in for more success stories from the business world.