| Speaking to Business Standard, Lalit Gupta, director (marketing), GKB Rx Lens Private Limited, said: "The money proposed to be raised would be invested in new manufacturing facilities and on expansion of the company's retail chain." |
| According to him, a firm decision in this regard is likely to be taken in the next few months. |
| The company already has made an investment of around Rs 25 crore on plant and machinery and retail outlets. It has its manufacturing facilities in all major cities including Kolkata, Delhi, Mumbai, Chennai and Kochi. |
| Gupta said that the company plans to build a new manufacturing facility in Delhi at an estimated investment of Rs 2.5 crore to cater to the growing demand for its products in the export markets. |
| Forty-five per cent of its turnover is accounted for by sale of lenses while the retail business accounts for 25 per cent. The balance is accounted for by exports to Europe, the US, Canada, West Asia and the Far East. |
| The company, which had a turnover of Rs 40 crore last year, expects to close this year at Rs 55 crore, an increase of 37 per cent. |
| According to him, the size of the domestic market for prescription and fashion eyewear is at Rs 400 crore. |
| He, however, said that the market is fragmented with most players operating out of single outlets and to address this issue the company plans to have a presence in areas of consumer convenience in the major cities. And a step in the direction, the company inaugurated its first sate-of-the art showroom in the city. |
| "The company currently has 17 stores in the country; and we would be opening around seven stores in the next few months and one of these would be coming up in the city. The other stores would come up in Delhi, Mumbai and Kolkata," he said. |
| Marketing initiatives in these cities would have localised content and the company has earmarked an investment of Rs 1.5 crore as part of its media campaign. |
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