LUXOWAY ENTERPRISE PRIVATE LIMITED

In their own words

Our vision is to emerge as one of the pioneers and enablers that shift the entire ecosystem of manufacturing spectacle frames, sunglasses, contact lenses and spectacle lenses from China to India in the next ten years, inclusively feeding our US$5 billion domestic market being AATMA-NIRBHAR. “As of now, 80% of the market for frames, sunglasses and spectacle lenses is flooded with Chinese imports, optical lenses is one of the top 10 imports by volume from china” More than 35 crores in India wear glasses and the infrastructure to manufacture optical lenses, sunglasses and spectacle lenses is almost non-existent in India. Our reliance on China can lock us up in a trade war if china in an organized manner limits supply and starts raising prices. As a solution, Import tariffs have been increased for Chinese imports to make Indian manufacturing competitive building the incentive to setup manufacturing in India Our attempt is to be the first movers to this policy stimulus growing responsibly and sustainably, capturing market share away from Chinese imports.We start by venturing into frame manufacturing, then move to consolidate our presence as an tech-enabled aggregator in the wholesale market + Logistics Drop-shipping hub, and after acquiring a sizeable market share venture into inclusive manufacturing of lenses and allied supplies for our dealer network

Written by the company on its public Startup India profile. Not verified by us.