EssilorLuxottica Group, , has partnered with Reliance Retail to operate the franchise operations of its LensCrafters brand in India.
Based in Mason, Ohio, LensCrafters is a retailer, with stores also in Canada and Puerto Rico. Founded in 1983 LensCrafters is known for its team of independent optometrists who conduct eye exams. The brand first entered the Indian market in 2020, opening a brick-and-mortar location in the DLF Mall of India in Noida.
Reliance Brands Limited, a subsidiary of Mumbai-based Reliance Retail Ventures, will be responsible for running the LensCrafters franchise operations in India.
Reliance Brands already retails various international fashion and lifestyle brands in the country, including Valentino, Jimmy Choo, Kate Spade, Charles Tyrwhitt, and Versace. The company is led by Isha Ambani, daughter of Reliance Industries Chairman Mukesh Ambani. Last year, Reliance Brands acquired Sunglass Hut‘s India business.
This partnership with Reliance Retail allows EssilorLuxottica to strengthen its presence in the rapidly growing Indian market through the well-established LensCrafters brand. It also positions Reliance Retail’s eyewear portfolio favorably ahead of its highly anticipated IPO anticipated to launch later this year. In August 2023, the company received a pre-money equity valuation of approximately $100 billion.
