Magrabi’s Dubai Optical acquisition set to grow UAE store network by 18% to 97 outlets

Regional eyewear retailer Magrabi Retail is poised to expand its UAE network by 18% to 97 stores through its acquisition of Dubai Optical — its latest move in a regional buying spree. The retailer has agreed to acquire 100% of the optical chain, adding 15 outlets across Dubai, Sharjah, Fujairah, and Ajman to its existing 82 stores, a Magrabi spokesperson tells EnterpriseAM. The spokesperson declined to share the value of the acquisition.

What’s included? Dubai Optical operates 19 stores under the Dubai Optical and Optivision brands, but only 15 are being acquired, according to a company announcement. Any Optivision outlets included in the transaction will be rebranded as Dubai Optical, the spokesperson tells us, while the four excluded stores will remain with their existing shareholders. Completion requires merger control clearance from the UAE Economy Ministry, with no closing date announced.

REMEMBER- Magrabi has been shopping around: Magrabi previously merged with Rivoli Vision, combining their regional optical retail operations, and has since expanded through Kuwait's Kefan Optics. Its planned majority acquisition of Egypt’s Baraka Optics is still awaiting regulatory approval.

And it’s not done shopping: Magrabi tells EnterpriseAM it will continue considering expansion via both acquisitions and organic growth in the UAE, although no further expansion targets have been announced. The retailer cited Dubai Optical’s loyal customer base and physical network as making it a prime takeover target, adding that it aims to retain the identities of established local brands it acquires. It also signaled long-term confidence in the sector, citing the UAE’s position as a retail and tourism hub. Its immediate priority, however, is integrating Dubai Optical while preserving its existing brand and customer base.