The Hindu Business Line : Lawrence & Mayo eyes presence at retail chains

Mumbai, Dec. 27 Lawrence & Mayo is planning to move beyond its standalone stores to have branded optical counters within the premises of the large organised retailers.

Optical retailing has been growing between 10-15 per cent and the total size of this industry is estimated between Rs 300-400 crore with mostly scattered regional players operating in this space. Being one of the few national players, the Rs 120-crore Lawrence & Mayo is now ramping up its retail presence by having a shop-in-shop format at the big retail chains.

Mr Vivek Mendonsa, Director , Lawrence & Mayo, told Business Line, “We would definitely look at a shop-in-shop format with the big retail chains and are on the look out for professional ethical partners with whom we can see eye to eye.” In fact in the past the optical retailer has been getting feelers from big retailers such as Reliance Retail and Pantaloon.

“In the optical business, consumers are not necessarily looking for who are the promoters of the company but quality products and services. Retailers today are not just looking spectacles but a gamut of services and our company understands the needs of consumers in this business which large retailers may not.”

In fact Lawrence & Mayo gets a chunk of its business (60-65 per cent) from optical services in the B2B segment.

At the same time, the optical retailer is planning to expand its number of stores (currently it has 44 stores across 17 cities) by adding 5-7 stores every year.

“There are private equity players who have approached us but all this time we have been using funds generated from internal accruals to grow and expand in our business which does not work on a franchise model,” states Mr Mendonsa.

Besides, the company is looking at adding to the retailers existing portfolio of optical brands with its own products and allied services.

“We are looking at adding value to the products of other retailers. The retail space has got hot and we may look at having Lawrence & Mayo branded optical counters at the big stores.”

At the same time, the optical retailer has been expanding its portfolio of products. It has added skin care products such as UV protection creams at its stores and has been steadily increasing its range of international eye wear brands. Recently, it has introduced three international eye wear brands – Jeckerson, Laura Biagiotti and Mandarina Duck.

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