MAGRABi Retail Group Acquires Kefan Optics Company KSCC: A Game-Changer in Kuwait’s Eyewear Industry
In a groundbreaking move, MAGRABi Retail Group, the leading eyewear retailer in the Middle East, has announced the acquisition of 100% of the issued share capital of Kefan Optics Company KSCC, a major player in Kuwait’s eyewear market.
Revolutionizing the Customer Experience
With this acquisition, MAGRABi plans to infuse its customer-centric approach into Kefan’s existing stores while preserving the essence of the Kefan brand. This strategic move aims to enhance the overall customer journey and elevate the standards of eye care services in Kuwait.
A New Era of Eye Care in Kuwait
The refreshed Kefan stores under MAGRABi’s leadership will set a new benchmark for quality and service in the country. The acquisition aligns with MAGRABi Retail Group’s commitment to innovation and excellence in both physical stores and digital channels across the MENA region, catering to customers across all market segments.
Market Dominance and Expansion
By adding 37 Kefan Optics stores to its network, MAGRABi significantly expands its footprint in Kuwait, solidifying its position as a market leader in the country. This move also strengthens the Group’s presence in the seven countries it operates, showcasing its commitment to growth and excellence.
Strategic Milestone for MAGRABi
More than just an expansion strategy, this acquisition is a testament to MAGRABi’s vision of setting industry standards while honoring the heritage of its partner brands. The Group’s focus on customer-centricity and operational efficiency drives its success in the eyewear market.
Building on a Legacy of Excellence
Kefan Optics, founded in 1978, has established itself as a key player in Kuwait’s eyewear industry, with a strong presence in co-op societies and shopping malls. The acquisition by MAGRABi Retail Group signifies a strategic transformation that builds on the success of previous integrations, like Rivoli Vision.
Continuing to Redefine Eyewear Excellence
Through this acquisition, MAGRABi Retail Group reinforces its commitment to delivering exceptional customer experiences in the GCC region. The Group’s focus on setting new industry benchmarks and driving innovation remains at the core of its business strategy.
Leadership Perspectives
Commenting on the acquisition, Amin Magrabi, Chair of MAGRABi Retail Group, emphasized the Group’s dedication to leading the evolution of eye care in the Middle East. Wael Al-Subaih, Chairman of Kefan Optics, expressed optimism about the new chapter under MAGRABi’s stewardship, honoring the legacy of excellence built over nearly five decades.
Yasser Taher, CEO of MAGRABi Retail Group, highlighted the strategic significance of the acquisition in enhancing customer experiences and delivering top-notch services in every market the Group enters.
Looking Ahead
As the transaction awaits regulatory approvals, including from the Kuwait Competition Protection Authority and the Saudi General Authority for Competition, MAGRABi Retail Group is poised to reshape Kuwait’s eyewear landscape and set new standards for the industry.
