https://padlet.com/surabhi_prabhakar_2018/3y0hi1hlv773 This is an industry analysis of one of the leading eyewear retailers in the United Arab Emirates (UAE) en-us 2019-10-15 15:26:02 UTC 2023-04-21 18:49:36 UTC hello@padlet.com https://padlet-uploads.storage.googleapis.com/420055796/c4d74e1aa74e4554fe6bd799c04aba12/Screenshot_2019_10_15_at_16_32_51.png surabhi_prabhakar_2018 https://padlet.com/surabhi_prabhakar_2018/3y0hi1hlv773/wish/397978274

The Rivoli Group was founded in Dubai, United Arab Emirates, over 3 decades ago. 

It features over 100 international luxury lifestyle retailers selling watches, leather goods and in the past three years, they have recently ventured into the eyewear industry.

Rivoli Eyezone (REZ), a newer concept, has provided an alternative outlet, allowing Rivoli to tackle the dynamic eyewear industry. It is a chain of premium eyewear boutiques providing sunglasses, optical frames and contact lenses. 

Currently it has a market presence in UAE, Oman, Bahrain and Qatar, with 400+ stores in these respected locations.

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Currently, the UAE's GDP is expected to grow by 2.8% (as of 2018), which is a significant increase from the previous 0.8% in 2017.

However, the commercial market is experiencing subdued market activity.

Regardless of the dwindling economic climate,  traditional retailers have endured through sales festivals, e.g. Dubai Shopping Festival (DSF). This, in tandem with the growth in tourism levels, is one of the main reasons behind the survival of many retailers.

]]> 2019-10-15 21:23:25 UTC https://padlet.com/surabhi_prabhakar_2018/3y0hi1hlv773/wish/398182219 surabhi_prabhakar_2018 https://padlet.com/surabhi_prabhakar_2018/3y0hi1hlv773/wish/398193088 2019-10-15 22:01:43 UTC https://padlet.com/surabhi_prabhakar_2018/3y0hi1hlv773/wish/398193088 surabhi_prabhakar_2018 https://padlet.com/surabhi_prabhakar_2018/3y0hi1hlv773/wish/398193906 2019-10-15 22:05:03 UTC https://padlet.com/surabhi_prabhakar_2018/3y0hi1hlv773/wish/398193906 surabhi_prabhakar_2018 https://padlet.com/surabhi_prabhakar_2018/3y0hi1hlv773/wish/398194706 REZ tends to a wide spectrum of consumers, from value-conscious to high spenders. 
As for REZ's competitors, it is now one of the four main retailers in this particular industry]]> 2019-10-15 22:08:07 UTC https://padlet.com/surabhi_prabhakar_2018/3y0hi1hlv773/wish/398194706 surabhi_prabhakar_2018 https://padlet.com/surabhi_prabhakar_2018/3y0hi1hlv773/wish/405240049

In the region, REZ has surpassed many of the smaller brands, establishing itself as one of the four main companies in the sunglass and eyewear industry after only 3 years of operating.

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Establish itself as one of the leading eyewear retailers in the Middle East

Be able to compete with the stronger competitors

To be seen as the first 'optical first' retailer in the Middle East 

Provide products that compete with what is pre-existing in the market while maintaining their own identity.

]]> 2019-11-12 20:23:34 UTC https://padlet.com/surabhi_prabhakar_2018/3y0hi1hlv773/wish/410237266 surabhi_prabhakar_2018 https://padlet.com/surabhi_prabhakar_2018/3y0hi1hlv773/wish/410239816 Be the go-to destination of choice for eye care solutions and eyewear, providing world class customer experience]]> 2019-11-12 20:28:30 UTC https://padlet.com/surabhi_prabhakar_2018/3y0hi1hlv773/wish/410239816 surabhi_prabhakar_2018 https://padlet.com/surabhi_prabhakar_2018/3y0hi1hlv773/wish/410240332 I don't do what I do
I don't know just what I know
I don't see just what I see
I constantly discover, grow and share new perspectives
I change the way you see the world
I am Rivoli Eyezone]]> 2019-11-12 20:29:30 UTC https://padlet.com/surabhi_prabhakar_2018/3y0hi1hlv773/wish/410240332 surabhi_prabhakar_2018 https://padlet.com/surabhi_prabhakar_2018/3y0hi1hlv773/wish/410244129

Reputable brand with the Rivoli name within the Middle East

Strong alliances with partners and strong relationship with their suppliers

They have created a strong ambience within their stores which is what makes them stand out amongst their competitors

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Further developing their clinical practices

REZ is perceived as a sunglass store suggesting that they haven't cemented their position as an 'eyewear' retailer

Awareness of their online presence needs to be strengthened

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REZ should focus more on ophthalmic - this refers to growing eye related health issues, need for vision care

In order to further itself amongst their competitors, they must look for avenues to grow their footprint

Due to the advancements in technology, REZ should focus on ad campaigns that are target those who are suffering from optical problems arising from excessive use of electronic devices

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Many of the competitors that REZ have, offer the same/similar brands

Due to the high levels of competition, REZ needs to make sure that they are constantly discovering new ways to maintain their competitiveness

The advancements in optical surgeries which may cause customers to veer away from needing optical lenses. This could seriously damage the revenues of eye-glasses and contact lenses. Therefore, the threat of new surgeries could cause footfall to decrease

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Bargaining power of suppliers - low because REZ have a very good relationship with their suppliers, Swatch Group, Marcolin and Kering

Threat of new entrants - new entrants in the market is also low because after only 3 years in the industry they have already established themselves as one of the four biggest eyewear retailers in the Middle East

Threat of established rivals - this is high because of the pre-existing companies that have been in the market for decades

Threat of substitute products or services - most of REZ's competitors offer the same products mainly varying on brands that each store carries

Bargaining power of buyers - this is also moderate because as one of the leading retailers, customers do have other options but due to the brand awareness surrounding the company it is not the highest

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Market penetration - REZ should focus more on eye diseases that are arising. This will make consumers "need" to buy the product as opposed to a  "want"

Product development - the introduction of eyewear in more prestigious brands such as Omega and Longines could help attract consumers willing to spend more. This will also differentiate them from their competitors

Market development - by introducing contact lenses, it opens REZ to a new market who may also be purchasing their optical lenses

Diversification - REZ is already associated with the Rivoli Group which offers other products like watches, leather goods, and other accessories. Therefore, REZ could begin offering promotions for those products

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