Saudi Arabia set to host innovative facility as eyewa gears up for expansion.
Eyewa, the leading eyewear retailer in the GCC region, has successfully raised $100 million in a Series C funding round led by General Atlantic, a global growth equity firm. Joining the funding effort were Badwa Capital and Turmeric Capital, reaffirming confidence in eyewa’s innovative approach to eyewear retail.
Expansion Plans and Strategic Investments
Eyewa is poised for significant growth with plans to open over 100 new stores by the end of 2025, building upon its current network of more than 150 outlets across the GCC. The company aims to strengthen its presence in Saudi Arabia, UAE, Kuwait, Bahrain, and Oman, while allocating funding to research and development, talent acquisition, and infrastructure improvements.
Central to this expansion is a pioneering production hub set to open in Riyadh during the first quarter of 2025. The facility will integrate a state-of-the-art lens manufacturing center, warehouse, and fulfillment operations. By owning and operating this hub, eyewa seeks to enhance efficiency, improve delivery times, and maintain high product quality.
Leadership Insights
Highlighting the company’s achievements, Anass Boumediene, Co-Founder and Co-CEO of eyewa, stated:
“We are proud of and feel even more emboldened by the remarkable trust placed in us by top global and regional investors. In a sector that had not seen much disruption in the past decade, our success in this funding round reflects not only the strength of our business model but also the spirit of innovation across the region’s startups as we continue to dream big and break new ground in our respective industries.”
Mehdi Oudghiri, Co-Founder and Co-CEO, emphasized the company’s dedication to innovation:
“This accomplishment is a testament to the hard work of our team, our strong track record as an omnichannel retailer, and our commitment to challenging convention. The additional capital will allow us to pursue the development of innovative products tailored to our customers and continue pushing the boundaries of customer experience in our region.”
Support from Investors
General Atlantic’s Vice President, Ziyad Baeshen, lauded eyewa’s customer-centric approach:
“Eyewa’s product-led, customer-first approach emphasizes style, quality, and affordability, combining strong e-commerce capabilities and a deep store footprint with products that are tailored to the local market. The company’s impressive growth trajectory thus far is a testament to the vision of the leadership team and consumer appetite for authentic, direct-to-consumer brands in the Middle East.”
Representatives from Badwa Capital and Turmeric Capital also expressed their commitment to supporting eyewa’s growth journey, highlighting the company’s innovative ethos and regional impact.
A Trailblazer in Eyewear
Founded in 2017, eyewa transformed its business model in December 2020 by blending e-commerce with physical retail stores. This omnichannel strategy allows eyewa to meet evolving customer preferences while nurturing sub-brands like The Optical Club, which provides affordable eyewear solutions.
With this latest funding, eyewa is well-positioned to redefine the eyewear retail landscape in the GCC and beyond, delivering on its vision to make eyewear accessible, innovative, and stylish for all.
