Kodano Group secures €9M investment, aiming for European expansion and development of its optical lens production lab.
Leading Polish optical products company, Kodano Group, has raised €9.3M (PLN 40 million) from the Vinci Da Gama Fund, managed by Vinci S.A. The funding will drive the company’s international expansion across European markets and support the development of its optical lens production lab.
A growing need for optical lens production labs
Vision problems are on the rise globally, with over two billion people affected, according to the World Health Organisation. This number is expected to double in the next 30 years, largely due to increased screen time and digitalisation. The growing demand for optical products has positioned Kodano as one of the market leaders in Poland, with a network of over one hundred retail and franchise stores and a strong focus on e-commerce in Central and Eastern Europe (CEE).
Mateusz Matula, CEO of Kodano Group, highlighted the company’s strategy: “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.”
Expanding view across Europe
Kodano already operates online in Romania, the Czech Republic, Slovakia, Hungary, and Lithuania. With the new capital injection, the company aims to further expand its footprint in Europe through both physical retail and enhanced e-commerce operations. The investment will also support the continued development of Kodano’s omnichannel strategy, which includes Poland’s largest online store for contact lenses and glasses, and a network of one hundred contact lens vending machines.
Additionally, the company plans to strengthen its franchise network and develop its contact lens vending machine service, which offers customers convenient and nearly instant access to products via a mobile app.
Strategic investment from Vinci Da Gama Fund
The Vinci Da Gama Fund specialises in supporting growing companies, particularly those with international expansion ambitions. With investments ranging from €2M to €21M, the fund aims to back businesses in their expansion and maturity phases. Marcin Adamczyk, Vice President of Vinci S.A., commented, “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.”
Future prospects
With the eyewear and contact lens market valued at over $180B in 2023 and projected to grow at a compound annual growth rate (CAGR) of 8.3% through 2030, Kodano is well-positioned to become a leading player in the European market. The €9.3M investment from Vinci Da Gama Fund will be key in fuelling its growth, enhancing its product range, and increasing profitability as it continues to expand across Europe.
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