Shark Tank Eyenic Eyewear
In this episode of Shark Tank India Eyenic Eyewear, end to end sanitation asset management company present their pitch. Will they get a deal from the sharks? To know about the deal read till the end.
| Company name | Eyenic Eyewear |
| Founders | Piyeush Kalra and Sunil Chabbra |
| Ask | ₹75 lakhs for 6% equity |
About the company Eyenic Eyewear
In India, 35% of the population needs vision correction. Every age group demands for different styles and colors. There are 40000+ optical eye stores in India. Everyone who wears glasses buys from their fixed optician. In this era of digital systems people are forgetting about these physical stores. Eyenic is a brand that makes glasses that are affordable, unique and durable. The company was started in the year of 2017-18. They have 300+ retail stores across 5 states. Around 1,25,000 units have been sold by the company. Their vision is to make Eyenic a popular brand among every Indian. They directly compete with Lenskart and John’s & Jacob’s.
Ask by the Owners Eyenic Eyewear
The pitchers asked for ₹75 lakhs in exchange for 6% at the valuation of 12.5 crores.
Eyenic Eyewear Sales And Revenue
85% of the sales is from frames and 15% is from lenses. 60% of their production is from China; 30% is from India and the rest 10% is from Turkey. They sold around 5k-6k glasses in a month. They have recently started a new category; Airman Range whose price starts from 500-1200 rupees. Eyenic Range starts from 1200-2500 rupees. Their lifetime sales are 4 crore rupees. In FY21-22 their sales is Rs.1 cr, FY 22-23 the sales is Rs. 75 lakhs. Last month the sales were 15 lakhs rupees. Gross margin is around 45%. Net margin is 21%.
Shark Tank Ekatra
Offers and counter offers
No sharks were interested in this business model and everyone stepped out from the deal.
Eyenic Eyewear Final deal
No deal was finalized with the sharks.