Eyewa, the rapidly growing eyewear retailer based in Dubai and Riyadh, has secured a $100 million Series C funding round, led by global growth investor General Atlantic. This milestone brings Eyewa’s total funding to $130 million since its inception in 2017, solidifying its position as a leading eyewear brand in the Middle East and beyond.
A Rising Star in Eyewear
Founded by Anass Boumediene, Mehdi Oudghiri, and Abdullah AlRugaib, all former Bain & Company consultants, Eyewa initially entered the market as an e-commerce retailer for third-party brands. Identifying gaps in the market, the company later launched its eyewear brand, quickly scaling its operations across five Mideast markets.
Today, Eyewa operates 150 wholly-owned stores without relying on franchises—a bold move that underscores its commitment to maintaining brand consistency and quality. With plans to open 100 additional stores using the new funding, the company is set to expand its footprint while reinforcing its presence as the largest eyewear brand in Saudi Arabia by store count.
Breaking Records in Growth
Eyewa’s growth trajectory is nothing short of remarkable. Comparisons to global benchmarks highlight its exceptional pace: while U.S.-based Warby Parker took seven years to expand to 100 stores and India’s Lenskart achieved the same milestone in six years, Eyewa has surged to 150 stores within just a few years.
“We’re the fastest-growing eyewear retailer globally,” said Anass Boumediene, co-founder of Eyewa. This rapid expansion is powered by its innovative business model and a keen understanding of the region’s unmet needs in eyewear and vision care.
Why General Atlantic Invested
This Series C round marks General Atlantic’s first major investment in a Middle Eastern brand, a testament to Eyewa’s potential to disrupt the global eyewear market. The investment underscores confidence in Eyewa’s leadership team and their ability to scale a direct-to-consumer model that resonates with modern consumers.
“Eyewa’s unique approach to blending e-commerce and physical retail is setting a new standard in the eyewear industry,” a General Atlantic spokesperson noted. “We see tremendous opportunity for Eyewa to not only dominate the Middle Eastern market but also emerge as a global leader in the sector.”
Scaling Impact and Employment
With over 1,300 employees, Eyewa’s operations are a significant driver of economic activity in the Middle East. The company’s decision to avoid franchising has allowed it to focus on creating jobs directly while ensuring a unified brand experience across all stores. Its strategy emphasizes high-quality customer service and a diverse range of eyewear products, including prescription glasses, sunglasses, blue light lenses, and contact lenses.
A Vision for the Future
Eyewa’s growth journey reflects a broader trend in the Middle East—one where homegrown brands are stepping onto the global stage with ambitious goals and innovative solutions. By seamlessly integrating online and offline shopping experiences, Eyewa is not only redefining eyewear retail but also demonstrating the untapped potential of the Middle Eastern consumer market.
As Eyewa moves forward with its expansion plans, it sets an inspiring example of how startups in the region can leverage both local insights and global ambitions to create transformative businesses.
The Road Ahead
With the backing of General Atlantic and a proven growth model, Eyewa is poised to solidify its reputation as a global powerhouse in the eyewear industry. As it scales its operations and continues to innovate, the brand’s journey underscores the possibilities that arise when vision meets execution.
This funding round not only positions Eyewa as a leader in the Middle Eastern market but also places it firmly on the global radar as a brand to watch in the coming years.
