Under the banner of CFS Vision, the centres will provide complete eye wear solutions showcasing leading international brands as also private labels of ‘Admyra’ and ‘Avanta’
Centre for Sight Group of Eye Hospitals, in collaboration with Mahindra Group has planned to expand its footprints throughout India with a bold idea which intends to disrupt the Indian Eye Wear market in the coming five years.
Under the banner of CFS Vision, the centres will provide complete eye wear solutions showcasing leading international brands as also private labels of ‘Admyra’ and ‘Avanta’. CFS Vision aspires to be the largest and comprehensive eye wear and eye care chain in the country, by ensuring that anyone who needs eye wear or eye care knows where to go. The synergy of having world-class eye wear and the best-in-class clinical care in this field, will make CFS Vision stand out from the other Optical chains.
Dr Mahipal Singh Sachdev, Chairman and Medical Director, Centre for Sight Group of Eye Hospitals said, “Patients can easily get a trusted facility for treatment as all the services will be available under one roof or at a neighboring Centre for Sight Eye Hospital. Our expansion target is to cover even the Tier 2 and 3 cities, so that the travel distance is minimized for such patients.”
CFS Vision targets to achieve annual revenue of INR 350 crores by 2027 and plans an outlay of INR 250 crores over the next five years. Having a growth of CAGR 70% and EBITDA positive.
“CFS Vision shall be the caretaker of eye wear and eye care needs in even the retail space for everyone from the cradle to the elderly using cutting edge technology, tele- consultation and services at the doorsteps. CFS Vision shall also be venturing into manufacturing of frames and lenses under the Make in India mission for its venture in the coming years”, added Dr Mahipal.
As per the recent report provided by the Worldometer and Statista report 2021, 35% i.e, around 50 crores of the Indian population need some form of vision correction but sadly only 25% of those have had their vision corrected. Therefore, 36 Crore population in the Indian sub-continent is still bereft of an eye wear solution. This is the current unmet need which CFS Vision is gearing up to cater in the coming years.
“In this digital era, especially post COVID19, the overall school going population, at least 25% of them have been found to have abnormal vision. The aggravating issue is with the fact that one-third of the above mentioned 25% school going population are still facing vision issues pertaining to wrongly prescribed eye wear and CFS Vision shall double up its efforts and interventions to undo this across the country. If such conditions are identified in the initial stages, the progression of vision loss can be tackled with the use of recommended eye wear, lenses or laser vision correction”, added Dr Mahipal
- Advertisement -