India’s one of the fastest-growing eyewear brands, MyValueVision, is all set to launch 100 new franchisee stores that will be equipped with modern technologies such as artificial intelligence (AI), virtual reality (VR), and augmented reality (AR).
This is a step toward the company’s aim of expanding into Tier II and Tier III cities in India, along with overseas markets. In addition to the opening of 100 stores, MyValueVision is also planning to open additional 200 stores in the coming years.
MyValueVision.com currently has operations in Hyderabad, New Delhi, Bangalore, Ahmedabad, Vizag, Kakinada, Rajahmundry, Warangal, Khammam, and Karimnagar, among other Indian cities and this new development will drastically help the company in reaching out to more customers.
MyValueVision.com has partnered with Virtooal, a premier European technology company, to improve their customer experience with virtual mirror technology.
COO of MyValueVision, Prasanna Kumar, said, “We believe augmented reality product visualization is the future of fashion-based eCommerce.”
He further added that the virtual mirror technology allows customers to digitally and in real-time try on the company’s newest and most fashionable spectacle frame designs, helping in providing enhanced product experience and consumer happiness.
The franchise business model is gaining immense popularity over the last few years, and with India on the verge of becoming the world’s third-largest consumer market, MyValueVision’s plan to open new stores will help increase its customer base.
Apart from lens companies like VisionRX, Essilor, and Zeiss, MyValuevision.com has teamed with leading brands like IDEE, Tommy Hilfiger, Marvel, Teddy, Ray-Ban, David Jones, Police, Carrera, and others.
“We are expecting to raise an investment of US$ 10 million for scaling up our services, technology and expanding our physical presence by introducing more than 200 plus stores,” added Kumar.