MAGRABi Retail Group Expands into Kuwait with Acquisition of Kefan Optics
Acquisition to Boost MAGRABi's Market Share in Kuwait and Position Company as Regional Leader
Riyadh: Eyewear giant MAGRABi Retail Group has expanded its presence in the Gulf market through a strategic acquisition, acquiring Kuwait’s optical chain, Kefan Optics.
The deal is part of MAGRABi’s strategy to grow its footprint in the region.
Known for its professional eye care services and technical expertise, Kefan Optics provides MAGRABi with a significant entry point into Kuwait’s competitive optical retail sector.
Following the acquisition, MAGRABi expects a 5 percent increase in top-line sales and more than a 10 percent rise in earnings before interest, taxes, depreciation, and amortization within the first year post-integration.
MAGRABi CEO Yasser Taher stated that the deal will elevate the company’s market share in Kuwait from 5 percent to an estimated 30 percent.
This move positions MAGRABi as a leading player in the country’s optical retail sector.
The acquisition comes at a time when MAGRABi is exploring the possibility of going public, though no formal steps have been taken yet.
Taher noted that Kefan Optics, with its 47-year history and loyal customer base, offers high-quality technical service and professional optometry.
Rather than phasing out the Kefan brand, MAGRABi plans to preserve its legacy while enhancing operations through a refreshed logo, redesigned stores, and revamped customer experience supported by omnichannel capabilities aimed at younger demographics.
The acquisition is subject to regulatory approvals from Kuwait’s Competition Authority and Saudi Arabia’s General Authority for Competition.
Taher anticipates the formal closing of the deal by late August or early September 2025.
Incorporating MAGRABi’s retail expertise, backend capabilities such as procurement, supply chain logistics, lens manufacturing, and retail analytics will aim to optimize Kefan Optics’ performance.
This modernization includes rebranding efforts, a move towards a premium segment, and improvements in operational efficiency through central glazing labs and digital retail tools.
MAGRABi aims to become the leading omnichannel retailer in the Middle East by investing in technology, customer experience, and product innovation.
The company is also actively pursuing further acquisitions across the region, viewing mergers and acquisitions as a key pillar of its growth strategy.
With the acquisition of Kefan Optics and plans for an IPO, MAGRABi is set to dominate the optical retail sector in the region.
Taher emphasized that this move will elevate a highly trusted brand like Kefan Optics to new heights.
The deal is part of MAGRABi’s strategy to grow its footprint in the region.
Known for its professional eye care services and technical expertise, Kefan Optics provides MAGRABi with a significant entry point into Kuwait’s competitive optical retail sector.
Following the acquisition, MAGRABi expects a 5 percent increase in top-line sales and more than a 10 percent rise in earnings before interest, taxes, depreciation, and amortization within the first year post-integration.
MAGRABi CEO Yasser Taher stated that the deal will elevate the company’s market share in Kuwait from 5 percent to an estimated 30 percent.
This move positions MAGRABi as a leading player in the country’s optical retail sector.
The acquisition comes at a time when MAGRABi is exploring the possibility of going public, though no formal steps have been taken yet.
Taher noted that Kefan Optics, with its 47-year history and loyal customer base, offers high-quality technical service and professional optometry.
Rather than phasing out the Kefan brand, MAGRABi plans to preserve its legacy while enhancing operations through a refreshed logo, redesigned stores, and revamped customer experience supported by omnichannel capabilities aimed at younger demographics.
The acquisition is subject to regulatory approvals from Kuwait’s Competition Authority and Saudi Arabia’s General Authority for Competition.
Taher anticipates the formal closing of the deal by late August or early September 2025.
Incorporating MAGRABi’s retail expertise, backend capabilities such as procurement, supply chain logistics, lens manufacturing, and retail analytics will aim to optimize Kefan Optics’ performance.
This modernization includes rebranding efforts, a move towards a premium segment, and improvements in operational efficiency through central glazing labs and digital retail tools.
MAGRABi aims to become the leading omnichannel retailer in the Middle East by investing in technology, customer experience, and product innovation.
The company is also actively pursuing further acquisitions across the region, viewing mergers and acquisitions as a key pillar of its growth strategy.
With the acquisition of Kefan Optics and plans for an IPO, MAGRABi is set to dominate the optical retail sector in the region.
Taher emphasized that this move will elevate a highly trusted brand like Kefan Optics to new heights.