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South Africa, Consumer
Ver de Verdad’s 13 retail stores sell quality, stylish eyeglasses and accessories to low-income Mexican consumers at affordable prices. The company aims to bridge the gap between high-priced designer eyewear and the inadequate eyeglass options supplied to the nation’s poor by public health groups. Ver de Verdad provides a full vision diagnostic service, first offering customers a free eye exam and then helping them choose attractive frames. Ver de Verdad stores are strategically located in working class urban neighborhoods and the company plans to expand to cities across central and northwestern Mexico over the next few years.
After each examination, the customer’s exact specifications are sent to one of Ver de Verdad’s three regional distribution centers, where the final product is made within an hour and a half. The company has established key partnerships with low-cost foreign eyeglass suppliers to maintain affordable prices and, through local logistics networks, ensures quick delivery. After signing a partnership with medical testing chain Laboratorio Médico Polanco, Ver de Verdad has opened small satellite “shared space” stores in its clinics to increase convenience. More than half of the 65,000 people examined have purchased a pair of eyeglasses the same day.
To date, Ver de Verdad has sold over 70,000 pairs of eyeglasses. It has won the National Business Quality Award sponsored by the Mexican Government and earned Hugo a 2013 CNN Expansión “Top 10 Mexican Entrepreneurs” award. Building on his success, Hugo has plans to grow the company by at least ten stores annually until he reaches 200.
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