From spectacles to eye candy: How this distributor did it

What was your vision when you founded Pearl Enterprise?

Pearl Enterprise was a labour of love for me. I ventured overseas to attract foreign brands when the market was dominated by Indian brands. I am not the first in my family to deal in eyewear. Forty-five years ago, my father had an eyewear trading and manufacturing facility in Rajkot, which catered to domestic demand. It was evident a long time ago that a big market was in the offing with the growth of the Indian population and economy. India did not have the right manufacturing capability for quality eyewear and it was left to foreign manufacturers to fill the void. Thus, it made sense to enter the distribution chain, where I could represent multiple global brands in India. You are an exclusive importer and distributer for some brands. What brands are you are associated with?

Today, Pearl boasts distributorship of International brands like Esprit, Elle, Puma, Trussardi, Charmant and its brands, Giordano, S.T.Dupont, Bentley etc. In the past, we have been associated with other global brands like Tag Heuer, Hugo Boss, Givenchy, Gant, Sketchers, Zeiss and Lanvin.

How tough was it to get started in the distribution business?

It was definitely tough in the early '90s, when the Indian economy was just opening up. There was no organised distribution of eye-wear and there was a very diverse set of retail players. The geographic diversity of India also made distribution of eyewear a logistical nightmare. To counter this, we built a top-notch distribution team, which was tasked with fanning the length and breadth of India to tie up with reputed retail outlets, which would distribute our products. We also invested a lot of money in logistics to ease the pain of distribution and create a secure supply chain.

What are the bottlenecks in the eyewear distribution business in the B2B space?

There are two types of challenges -- logistics and diversity. Logistics is one of the prime difficulties as Pearl Enterprise caters to over 800 opticians directly across 123 cities and 21 states in India. This is naturally a laborious process. Diversity varies from region to region. No two regions have the same preferences in eyewear and hence we need to stock and map a wide variety of goods to successfully cater to each region. For example, sunglasses are in demand in the north while the South has a higher demand for optical glasses and a very low demand for sunglasses. What kind of eyewear are you bringing to the Indian market through your partnerships with global brands?

Our partners, Charmant Inc, Japan, are recognised worldwide as the titanium experts for their world-class quality standards. The collection boasts top quality corrosion-resistant titanium material with high durability and contemporary design. This makes our products stand out from the rest. Recently, they have launched an exciting titanium collection under Charmant Blue Label, optical wear specifically designed for the Indian consumer and Indian climatic conditions. The Charmant Blue Label costs Rs 4,000-6,000. We will continue to cater to the Rs 3,000-8,000 mid-market segment for our fashion brands and upwards of Rs 20,000 market segment for our luxury brands like ST Dupont and Bentley.

Deepak Panchamia

Where does the eyewear market stand at present? How do you see India as a manufacturer of eyewear?

The Indian market boasts over 270 domestic and international brands and the industry is still evolving. There is tough competition between different brands for a share of the customer's wallet. Yet, the Indian eyewear market has space for everyone as the large foreign brands are more focused on the fashion and luxury part of the market while the lower mass market is dominated by Indian brands. While manufacturing of eyewear on a global scale is yet to take-off, I am confident it is just a matter of time before India enters the big league of eyewear design and manufacturing, considering we are host to the second largest population on earth.

How has style and demand for eyewear from consumers evolved in the last few years?

The size of the Indian eyewear market comprising optical products such as contact lens, intraocular lens, Lasik, lens cleaning solutions, spectacle lenses, frames and sunglasses is around Rs 21,000 crore. The market has grown from a small domestic manufacturing business with a handful of local brands to almost 270 foreign and domestic brands, with a large part imported from China. In terms of style, from classic and ordinary eyewear, the industry today boasts a slew of global fashionable eyewear with new trends in styles, shapes, colours and fits.

How has eyewear changed from being a necessity to an accessory?

As the Indian economy expands, there is a concurrent expansion of people's wallets and their demand for fashion and fashion accessories. Today, even Tier II and Tier III cities are part of the fashion scene with robust demand. As wallets swell and lifestyles change, people from even smaller cities are inclined to participate due to higher affordability. With the infusion of fashion in everyday life through the influx of satellite television and social media, the need to look and feel good is growing, thus leading to higher demand.

What is your personal favourite brand that you like to wear?

I prefer to wear Trussardi & Charmant Blue.

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