CrossEyes to open more shops following investment

Danish eyewear and optometry chain CrossEyes is set to multiply its number of shops following a one million pound investment from The Danish Growth Fund, to target both the Danish and British market.

Currently CrossEyes has 15 shops, six of which are in the UK, and they are setting an ambitious target of becoming 40 within a year, and growing to more than 150 in the years to come, as it looks to challenge the traditional eyewear market with its custom made frames.

CrossEyes founder and chief executive officer Søren Møller said: “So far - the collections, prices and profits over the whole world have been controlled by one single large International manufacturer and supplier of glasses.

“However, CrossEyes are re-thinking the whole value chain. We do everything ourselves. From the design of the shops to the eye tests, even the glazing of the lenses. And everything is made in Denmark. Our model changes all the power relations in the eyewear market.”

CrossEyes receives investment from The Danish Growth Fund

Commenting on its investment, Jakob Fuhr Hansen from The Danish Growth Funds’ VF Venture, added: “CrossEyes is already in the market and can develop to become much bigger in Denmark, the UK and further abroad.

“Outside of Denmark, England is the largest investment but the business is already exploring further markets. Our capital will mainly be spent on the right people and clever franchisees, and there is a whole new initiative on the way which we have not revealed yet.”

The CrossEyes franchise model costs 29,000 pounds and gives franchisees access to a complete ‘Nordic Design’ store including furniture, displays, IT systems and their initial frame collection.

The brand notes that customers in the UK are growing at 45 percent a year rate and that’s without the use of traditional marketing and discounts.

Møller states: “We pretty much do not use traditional marketing and do not run discount campaigns, which currently dominate the market. Everything is happening socially and by word of mouth, and our prices are always the same. In fact, we spend very little time talking prices, as the customers can quickly see, that our prices are much lower than the prices of our competitors.”

In the UK, CrossEyes has three stores across London, as well as in Amersham, Leeds, and Belfast.

Images: CrossEyes