Photo of Raynald Zhang (Left), Founder of foptics and Daniel (Right), Business Development Advisor at SME Centre @ SMCCI.
The challenge of finding attractive, affordable eyewear during his final year of university sparked an idea for Raynald Zhang (Ray). Recognising a significant gap in the Singapore market, he launched foptics in 2018, driven by a desire to make stylish, budget-friendly glasses accessible to everyone.
A pivotal moment arrived in 2020 when Ray was introduced to the Partners for Business Growth programme. It was here he connected with Daniel Ang, SME Centre @ SMCCI’s Business Development Advisor. Daniel quickly became an indispensable sounding board for foptics, offering fresh perspectives and deeper insights through their regular interactions.
Expanding Beyond Singapore’s Shores
Foptics benefitted from introductions to various programmes and grants. Most significantly, in the process of planning their overseas expansion in the Philippines, they leveraged on the connections offered by the Enterprise Singapore team in the Philippines, the initial support from the Market Readiness Assistance (MRA) grant to conduct market research, and Daniel’s seasoned advice drawn from his extensive work with numerous SMEs.
“Overseas expansion can be daunting, especially the first time,” shares Ray. “We’re incredibly grateful for the support from the EnterpriseSG team in the Philippines, the MRA grant, and Daniel’s practical experience (from) helping other SMEs go global. All these elements gave us the confidence to make it work.” He emphasises that while SMEs can achieve much independently, having supportive entities helped accelerate their journey.
Further bolstering their venture, foptics successfully raised a seed round with Gentree Fund, providing additional support for their move into the Philippines.
Ray views the Philippines as a natural next step given foptics’ unique business model, which he describes as “half retail, half healthcare.” The country’s highly consumer-driven economy, he believes, provides fertile ground for the brand’s growth. As their initial international foray, expanding into an English-speaking country like the Philippines also felt inherently natural. “The bilateral ties are strong, and the Philippines is very Singaporean-friendly. We also have many business friends there, which instills confidence, seeing other Singaporean companies thrive.”
The Power of Collaboration for Growth
Foptics has consistently embraced the value of collaboration throughout its journey, exploring diverse partnerships over the years. In their early stages, they teamed up with local institutes of higher learning, strategically marketing their affordable offerings to the untapped young adult demographic.
As they gained traction as a key local player in the eyewear industry, they caught the attention of JBL. This led to an collaborative partnership to co-market the JBL Soundgear Frame, where Foptics became the official lens partner. JBL recognised that the younger generation, being most receptive to such innovative audio-visual products, aligned perfectly with Foptics’ customer base, making the collaboration a strong business fit. This partnership garnered significant interest from overseas markets, inspiring the Foptics team to actively pursue international expansion.
Future Business Aspirations
Looking ahead, Ray envisions collaborative ventures with local heartland “mom-and-pop” optical shops in Singapore. His aim is to revitalise these traditional businesses by integrating Foptics’ accessible eyewear solutions.
“Our strategy for Singapore is to initiate more SME-to-SME partnerships, reinforcing the idea that we are stronger together,” Ray concludes. “Ultimately, as the market consolidates, our hope is to see fellow SMEs not just survive, but truly prosper.”
About foptics
foptics began when Ray was still a final year student in university. His perfect eyesight started to deteriorate as a result of excessive studying (more like gaming and late night YouTube) and thought it was finally time to get a pair of prescription spectacles.
Upon shopping around, he realized there is no optical shops offering stylish but truely affordable glasses! He questioned himself on the price of the product, and after doing some research, founded foptics to fill that gap in Singapore and beyond.
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