The Spanish of prescription glasses GreyHounders, has been projected as a goal, close the year 2022 by tripling turnover achieved during the past year (€300,000, double in relation to that obtained the previous year) and manage to evolve to become a reference in online sales in the optical sector. All this, after the closing of one for a total of half a million euros, with the investment firm Poniente Capital as the leader.
Greyhounders, an omnichannel bet
The Greyhounders expansion process accelerated in 2020when in the midst of the COVID-19 pandemic, the company made the leap to the physical format, establishing an omnichannel strategy. They opened their first store in Madridwhich managed to become profitable in just ten months, because “Despite having clients throughout Spain, Madrid is our most important pool today and given the high demand that we were experiencing in the first store, we have considered it strategic to accompany the first opening with a second store in the capital, in order to be able to serve customers better and without such long waiting times”, explained at the time the co-founder of GreyHounders, Martha Frena.
Behind the success obtained with the digital channel and the opening of physical stores in MadridGreyHounders has been raised as the main objective “revolutionize” the optical sector through digitization, while continuing its physical growth and landing in three new cities and starting operations by mid-2022.
The vision of the startup is democratize the Spanish optical sector to offer its customers a quality product at affordable prices. To achieve this, they have eliminated the intermediaries in the production line to offer varied models with prices from 29 euros for single vision lenses and from 99 euros for progressive lenses.
In the quest to become the first 100% online Spanish optician, they put in their virtual dressing room available to the public where customers can see what the glasses will look like, a product testing service personalized from home and a team of ophthalmic professionals who do free vision screening.
Martha Frennaco-founder and CEO at GreyHounders, has stated that “The key to what we do is having a deep understanding of customer needs and being able to always offer them the best product, of the highest quality at the lowest possible price. In addition, you can choose the best solution, between receiving them at home, picking them up at one of the stores, trying online or trying at home, and you have power over the filters and treatments you want or don’t want to add. The client customizes 100% a purchase process which is usually very traditional, physical and expensive”
A new round of financing on the horizon
Greyhounders have also been selected by Lanzadera, a business accelerator created and led by Juan Roig, who is also president of , to be part of his acceleration program. Likewise, the company has set some fairly ambitious goals for the end of the year: triple its turnover, open a new round of 1.5 million euros after the summer and continue its national expansion with the opening of new physical stores.
Marta Frenna, is in charge of the project along with a team made up of 12 people, which plans to expand soon by incorporating 12 more employees among the new stores to open. The company is supported by Prats Laboratories for making glasses.
Photo: (Marta Frenna, CEO of the company)
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