Show & Tell

Industry disruptor adds European brand to range

The start up – which offers independent optometry practices European-styled frames with no upfront cost – has announced Gino Vega is now part of its stable of brands that also includes Merci Merci, Alternance and Archipelago.SWAD gained prominence earlier this year when company director Mr Dheeran Makadia announced a business model that offered to supply independent optometrists up to 200 frames with no up-front costs or long-term contracts. In doing so, Markadia claimed this would avoid the issue of dead stock, and lead to increased margins and bottom-line profit.“The practice will have the full range on display and as a patient/customer is dispensed, the staff would place the order for frame and lenses via our online portal,” Makadia said.He explained that the SWAD laboratory would then manufacture a new set of frames and lenses for that customer and dispatch the complete pair to the optometrist’s store.“Our lab in Shanghai has over 200 team mbers producing 3000 jobs per day for Australia, Europe and North America. Our lab has four Satisloh machines being installed into the new manufacturing site, which is the same machines Shamir and other labs use,” Makadia said.“Over the past month we have showcased our products in five independent optometry practices. All five stores have increased conversion by keeping their patient scripts, and increased gross profit margin as they are getting a package deal with us and therefore increased net profit,” he added.Aside from the new announcent, Makadia also said SWAD was about to finalise the launch of a new range of sunglasses and children’s frames.