The Polish optical industry is witnessing a significant shift as the Kodano Group embarks on a bold European expansion plan. With a recent €9M investment, the company is poised to enhance its production capabilities and market reach.
Anticipating increased demand in optical products, the Kodano Group is strategically positioning itself in Central and Eastern Europe. As vision problems escalate globally, this move is timely and aligns with the group’s objective to expand its network and boost online sales across multiple countries.
Understanding the Surge in Demand
The global increase in vision problems is alarming, affecting over two billion people, according to the World Health Organisation. As digitalisation and screen time continue to rise, the demand for optical products, including lenses, is expected to double in the next three decades. This surge presents an opportunity for industry leaders like Kodano to expand and innovate.
Kodano Group’s extensive network of over one hundred retail stores and its strong presence in e-commerce underscores its prominence in Poland. They are well-positioned to address this rising demand and continue leading the market with robust strategies and innovative solutions.
Ambitious Expansion Plans
Kodano’s current operations span Romania, the Czech Republic, Slovakia, Hungary, and Lithuania. The injection of new capital aims to further entrench Kodano’s presence across Europe through expanded physical retail and a sophisticated online shopping experience.
The company’s omnichannel strategy is pivotal. In Poland, Kodano already operates the largest online store for contact lenses and glasses, complemented by a vast network of vending machines that ensure instant product access through a mobile app. This strategy is set to be enhanced and expanded across new markets.
The Role of Vinci Da Gama Fund
The strategic investment by the Vinci Da Gama Fund is noteworthy. Specialising in companies with international aspirations, the fund provides support, particularly in expansion and maturity phases.
Marcin Adamczyk of Vinci S.A. states, “The investment in Kodano Group is a continuation of our mission to support domestic companies with international ambitions.” The fund’s backing is expected to amplify Kodano’s growth trajectory and enable it to capture a substantial share of the European market.
Future Market Prospects
With the global eyewear market valued at over $180 billion in 2023, Kodano’s potential in Europe is significant. The projected growth rate of 8.3% annually through 2030 offers a conducive environment for the company to expand its product offerings and improve profitability.
The €9.3M funding is instrumental in Kodano’s future plans, providing the necessary resources to enhance production and expand its footprint in key markets across the continent.
Enhancing Omnichannel Strategies
Kodano’s investment in its omnichannel strategy is central to its expansion plan. By combining e-commerce with traditional retail and innovative vending solutions, the company ensures comprehensive market coverage.
The integration of advanced technology in its operations allows Kodano to deliver superior customer experiences, thereby strengthening its market position across Europe.
This holistic approach positions Kodano as a leader in accessibility and convenience, meeting increasing consumer demands efficiently.
Strengthening Retail and Franchise Networks
Expanding the retail and franchise networks is a priority for Kodano as it leverages the new investment. This growth will drive its physical presence in Central and Eastern Europe, aligning with its broader business goals.
Such strategic expansions are expected to increase market share and reinforce Kodano’s brand presence across new territories, creating a robust foundation for sustained growth.
Vision for Continued Growth
Kodano’s vision for growth extends beyond immediate expansion. Its focus on developing innovative solutions and enhancing customer satisfaction is a testament to its commitment to long-term success.
Kodano Group is strategically advancing its footprint in the European optical market, driven by significant funding and a clear vision. Its comprehensive expansion plans, supported by strong financial backing, position Kodano to become a leading player in the industry.
