In a nutsell
- Kodano Group, a seller of optical products in Poland, has secured EUR €9.3M (PLN 40 million) from the Vinci Da Gama Fund, managed by Vinci S.A.
- The funds raised will be utilized to speed up its expansion into European markets and improve the development of its laboratory, which specializes in producing optical lenses.
Driving e-commerce growth and European expansion
Founded by Mateusz Matula and Jacek Młodawski, Kodano Group is a Polish manufacturer and distributor of lenses and eyewear frames has a retail network of over 100 own and franchise optical stores. Currently, they have focused on expanding its e-commerce model in the CEE region.
Their plans will be strengthened by the recent EUR €9.3M (PLN 40 million) funding they secured from the Vinci Da Gama Fund. Currently, the company is operating in Romania, the Czech Republic, Slovakia, Hungary, Lithuania, and they are targeting other European markets.
“Additionally, we are continuously expanding our franchise network and aim to further develop our automated contact lens vending machines, which combined with a mobile app, offer customers almost instant and convenient access to selected products,” adds Mateusz Matula, commentedd Mateusz Matula, CEO of Kodano Group.
Moreover, Kodano Group aims to establish a laboratory specializing in the production of optical lenses, which will broaden the company’s product range and increase profitability.
Kodano Group bets on growth as Europe’s eyewear market expands
In 2024, Europe’s revenue in the Eyewear market is projected to reach $44.88BN. It is expected to grow annually by 2.57% (CAGR 2024-2029). For comparison, in 2023, the market size was $38.5BN.
Marcin Adamczyk, Vice President of Vinci S.A., emphasized that their investment in the Kodano Group aligns with Vinci’s mission to support local companies with global potential.
“We believe that the team’s experience and the chosen brand development strategy, combined with the observed market dynamics, will enable Kodano to become a significant player in the European eyewear and contact lens market within a few years,” he added.
The Vinci Da Gama fund, established by Bank Gospodarstwa Krajowego is managed by Vinci S.A. The fund invests between €2 and €21M in companies that are in their growth and maturity stages, especially those with ambitions for international expansion.
Vinci S.A. also manages two other funds: HiTech, which supports companies in the advanced technology sector, and IQ, which focuses on scientific research projects.
