Cricketer Sunil Gavasakar, umpire Ian Gould and super star Rajinikanth have been spotted donning a pair of Maui Jim sunglasses.
The entry of Maui Jim India, the 100 per cent subsidiary of the Hawaiian brand, is heating up competition in the organised sunglasses business. The third largest sunglass brand after Ray-Ban and Oakley, it made its entry into India last year. The company said it is positioning itself as a technology-driven brand in India and has undertaken a price reduction to boost its sales in the entry-level models.
“The polarised-patented product eliminates glare and boosts colour as the lenses give a distortion-free vision. This comes as a boon for spectacle wearers as it is perhaps the only sunglass-maker that provides customised prescription (power) shades,” Mr I. Rahumathullah, Sales Director, Maui Jim, said.
So far, most of our products are retailed through branded optical retailers and also departmental stores. “We have about 234 stock keeping units and over 94 styles in our portfolio,” he said, adding that the company is targeting an urban client base.
Price range
Maui Jim sunglasses are retailed in the price range of Rs 5,700 to Rs 14,000. In the prescription segment, it offers sunglasses between Rs 14,490 and Rs 33,650. Globally, 35 per cent of its sales are from prescription eyewear.
The company, which currently imports its entire range, said it targets selling about 15,000 pairs annually in next three years.
The sunglasses market is estimated at Rs 600 crore. It is projected to grow to Rs 2,000 crore in the next five years.
The organised segment contributes about 19 per cent to the overall eyewear market. Within the organised segment, the share of sunglasses is around 40 per cent.