Dila Capital and Jaguar Ventures made an undisclosed investment in Ben & Frank, a direct-to-consumer eyewear brand in Mexico, with the participation of previous angel investors.
(Press Release) Ben & Frank offers consumers high quality lenses with their own designs at a very attractive price. The company´s omnichannel strategy, currently operates through its website as the main sales channel, reducing the number of intermediaries, and offering their products at less than half the price than other traditional optical chains. They have two physical stores in strategic points in Mexico City, with plans to expand throughout the whole country.
They have a very efficient shipping policy that allows customers to choose four models to test at home, so they can choose the ones they like best. So after making the final choice, Ben & Frank will ship the model with the correspondent optical magnification
The company will use the funds of the round to expand its offer in physical spaces through new showrooms and stores, as well as implement technology in its current systems to scale the final productivity.
“We are very impressed with Mariana, Eduardo, María José and the rest of the teams´ ability to execute. Since they started their business at the University of Chicago, they have not ceased to amaze us. Without a doubt, Ben & Frank is one of the best companies we have seen in DILA. We are very excited to partner with them.” Commented Alejandro Diez Barroso, Managing Partner of DILA Capital.
It is worth noting the good relationship that the two parties have regarding the alliance with DILA from the comment made by the Ben & Frank team, “We are excited for the future of Ben & Frank and convinced that we could not have chosen better partners to help us solve the challenges that lie ahead.”