MAGRABi Retail Group is set to reshape the Middle Eastern eyewear market, integrating Rivoli Vision’s 89 stores across the UAE, Qatar, Oman, and Bahrain. This move will expand MAGRABi’s footprint to seven countries with over 290 locations by the end of 2024, covering luxury, premium, and mainstream segments through a blend of physical stores and digital platforms.
A Strategic Partnership for the Future
Amin Magrabi, Chairman of MAGRABi Retail Group, expressed excitement over the merger: “The industry is maturing, and scale has become essential. After thoughtful discussions, Rivoli Vision proved to be the perfect fit—bringing the right brand, culture, and team to complement MAGRABi’s vision.”
The synergy between the two companies lies in their shared outlook on the future of eyewear, where enhancing customer experience, both offline and online, is key. Ramesh Prabhakar, Vice Chairman and Managing Partner of Rivoli Group echoed this sentiment, calling MAGRABi the ideal partner for establishing market leadership across the Middle East.
Growth-Driven Investments
The expansion is backed by a robust investment strategy, with MAGRABi committing to enhancing customer experiences through advanced digital platforms and retail enhancements. Over the past three years, the company has invested over $26.6 million annually in these areas. With the merger, those numbers are set to rise as the company continues to innovate its supply chain and inventory management systems.
CEO Yasser Taher emphasised the financial and operational benefits of the merger, projecting double-digit revenue and EBITDA growth between 2025 and 2027, driven by synergies between the two entities.
Leveraging Digital Transformation
Central to MAGRABi’s strategy is a new headless online platform, enabling customers to shop, book eye tests, and manage orders across multiple channels, whether in-store or online. Taher predicts a 50% year-on-year increase in online sales from 2025 to 2027, underscoring the company’s digital evolution.
Market Leadership and Segmentation
MAGRABi’s three-year plan focuses on establishing market leadership across its seven countries, targeting luxury, premium, and mainstream segments. These sectors represent 60% of the population and 80% of the market size, according to Magrabi. “We’ll tackle these segments with tailored banners and propositions, such as MAGRABi for luxury and Rivoli EyeZone for premium,” he added.
Commitment to ESG and Raising Industry Standards
MAGRABi is deeply committed to environmental, social, and governance (ESG) principles, reflected in its ongoing efforts to raise industry standards. The company has partnered with Saudi universities to elevate optometry education and plans to extend this initiative across the region. Circular programs focused on sustainability, product refurbishment, and responsible supply chains are also integral to the company’s future strategy.
A United Vision for Growth
As the MAGRABi-Rivoli merger progresses, both companies remain focused on integrating their teams and cultures. “Rivoli has built an incredible organisation over the past five years, and we’re excited to bring their management into MAGRABi,” said Amin Magrabi. The integration is expected to be completed within 15 months, with full synergy realisation over 24 months.
Looking ahead, MAGRABi sees this as the start of a broader industry transformation. “This is only the beginning,” Magrabi concluded. “We invite our customers, vendors, and partners to join us in this exciting journey of shared growth and success.”
