Kodano Group, one of the leading sellers of optical products in Poland, has secured €9 million from the Vinci Da Gama Fund, managed by Vinci S.A. The Polish manufacturer and distributor of lenses and eyewear frames has a retail network of over 100 own and franchise optical stores, and in recent years has strongly focused on expanding its e-commerce model in the CEE region. The raised capital will be used to accelerate its expansion into European markets and enhance the development of its laboratory, where optical lenses are produced.
According to the World Health Organization, over 2 billion people worldwide struggle with visual impairments, and experts estimate that this number could double over the next 30 years. While digitalization and technological advancements offer numerous benefits, they are not without consequences for our eye health. Both specialists and users confirm this – it’s estimated that three quarters of adults who use digital devices daily experience chronic eye strain.
Unfortunately, this problem is only expected to worsen, especially with the growing popularity of remote work and the increasing shift of daily tasks to digital screens. As a result, the demand for optical products continues to rise globally. One of the market leaders in Poland is Kodano, a company with a network of over 100 optical stores, which it continues to expand, including through franchising. The company takes a modern approach with an omnichannel strategy that includes the largest online store for contact lenses and glasses in Poland, as well as a network of 100 contact lens vending machines located across the country. Given the growing demand for optical products, Kodano, which already operates online sales in Romania, the Czech Republic, Slovakia, Hungary, and Lithuania, plans to intensify its efforts to expand into European markets. To achieve this goal, the group secured EUR 9,3 million from Vinci Da Gama, a fund managed by Vinci S.A., specializing in investments in growing companies.
“”We plan to allocate the funds raised to expand our network of stationary stores in selected CEE markets, as well as boosting e-commerce sales across European countries. We are also working intensively on developing our laboratory, where we manufacture optical lenses, which will allow us to broaden Kodano Group’s product range and increase profitability,” – comments Mateusz Matula, CEO of Kodano Group. “Additionally, we are continuously expanding our franchise network and aim to further develop our automated contact lens vending machines, which combined with a mobile app, offer customers almost instant and convenient access to selected products,” – adds Mateusz Matula.
The eyewear and contact lens market is one of the fastest-growing sectors of the economy. According to data from Grand View Research, its value reached over $180 billion in 2023, with a projected compound annual growth rate (CAGR) of 8.3% through 2030. With the capital raised for expansion, the Polish company Kodano has the potential to become one of the market leaders in Europe. The EUR 9,3 million investment was made by the Vinci Da Gama fund, established by Bank Gospodarstwa Krajowego and managed by Vinci S.A. The fund invests between EUR 2 and 21 million in companies in their expansion and maturity phases, particularly those with plans for international expansion.
“The investment in Kodano Group is a continuation of our fund’s mission to support domestic companies with international ambitions. We believe that the team’s experience and the chosen brand development strategy, combined with the observed market dynamics, will enable Kodano to become a significant player in the European eyewear and contact lens market within a few years.“ – commented Marcin Adamczyk, Vice President of Vinci S.A.
The aforementioned Vinci S.A. also manages two other funds – HiTech, which focuses on supporting innovative companies in the advanced technology sector, and IQ, which concentrates on groundbreaking scientific research projects.
By Tech.eu
Source: Tech.eu