Lenskart

Lenskart is an Indian optical prescription eyewear retail chain, based in the city of New Delhi, India.[3] As of September 2020, Lenskart had 500+ stores in over 40 cities in India.[4][5] Its manufacturing facility in New Delhi manufactures 3 lakh glasses a month.[6]

Lenskart
TypePrivate
Industry
Founded2010 (2010)
Headquarters
New Delhi, India
Number of locations
Over 900 stores[1] (2020)
Area served
Worldwide
Key people
Peyush Bansal (Chairman, MD & CEO)
Revenue ₹963 crore (US$130 million) (FY 2020)[2]
₹17 crore (US$2.2 million) (FY 2020)[2]
Number of employees
5,000+ (2020)
Websitelenskart.com

Revenue and Valuation

The company had a valuation of $1 billion by December 2019 after Softbank invested around $2 million.[7] Peyush Bansal, a former Microsoft employee, founded Lenskart in 2010 along with Amit Chaudhary and Sumeet Kapahi.[8] In 2020, Lenskart generated total revenue of ₹1,000+ crore.[9] Financial backers of Lenskart include TPG Growth, International Finance Corporation and Adveq Management.[10]

Ratan Tata and Kris Gopalakrishnan have also invested in Lenskart.[11] In March 2018, Wipro’s Chairman Azim Premji invested ₹4 crore in the group, taking the valuation of the company to ₹3,000 crore.[12][11]

In 2018, the company became profitable (EBITDA).[6] Lenskart launched the eyewear brand John Jacobs in 2017.[13][14] The company is in talks with Japanese group SoftBank as well as the private equity firm Kedaara Capital for investment.[15][4] In October 2017, Lenskart's first brand ambassador was Katrina Kaif.[16][17] In March 2019, the company hired Bhuvan Bam as their first male brand ambassador.[18]

References
  1. "Lenskart to launch 500 stores in 2020 and increase its focus on AI and digital marketing, says Co-founder, Amit Chaudhary". Retrieved 2 July 2021.
  2. "[What The Financials] Lenskart Turns Profitable In FY20, Revenue Nears INR 1000 Cr". Inc42 Media. 23 February 2021. Retrieved 29 October 2021.
  3. "Lenskart plans to hire over 2,000 employees in India by next year". mint. 11 August 2021. Retrieved 16 February 2022.
  4. Dash, Sanchita (2 September 2019). "9 years later, Lenskart set to be a unicorn having fought off losses and welcomed investors". Business Insider. Retrieved 8 September 2019.
  5. Sikdar, Shubhomoy (4 March 2019). "Lenskart sees more scope of growth in non-metros: CEO Peyush Bansal". Business Standard India. Retrieved 31 August 2019.
  6. Bali, Shinmin (4 November 2018). "Expansion Plan: Lenskart eyes 50% market share". The Financial Express. Retrieved 31 August 2019.
  7. "SoftBank Vision Fund invests $275M in India's Lenskart". TechCrunch.
  8. Poduwal, Sunanda (6 November 2011). "Peyush Bansal, founder of Lenskart in India, selling eyewear talks about his business journey". The Economic Times. Retrieved 31 August 2019.
  9. Lenskart
  10. Sharma, Samidha; Gooptu, Biswarup (27 May 2019). "Lenskart set to turn unicorn with likely $350M SoftBank funding - ETtech". Economic Times ETtech.com. Retrieved 31 August 2019.
  11. Sarkar, Ranju (23 May 2016). "How LenskartBold text is defying the start-up trend". Rediff. Business Standard. Retrieved 31 August 2019.
  12. Gooptu, Biswarup; Srinivasan, Supraja (2 March 2018). "Lenskart valuation touches Rs 3,000 Cr after a secondary transaction - ETtech". Economic Times Tech. Retrieved 31 August 2019.
  13. PTI (13 January 2019). "John Jacobs to clock ₹500 cr revenue by March 2021". The Hindu Business Line. Retrieved 31 August 2019.
  14. PTI (4 February 2018). "Lenskart invests $4 million to expand John Jacobs brand stores". Livemint. Retrieved 31 August 2019.
  15. "Lenskart to become the next unicorn! Softbank to invest $350m at $1.3bn valuation". Business Today. 27 May 2019. Retrieved 31 August 2019.
  16. "Lenskart ropes in Katrina Kaif as brand ambassador". Moneycontrol. 9 October 2017. Retrieved 31 August 2019.
  17. "Katrina Kaif is Lenskart's first-ever ambassador". The Economic Times. 10 October 2017. Retrieved 31 August 2019.
  18. "Lenskart announces Bhuvan Bam as its new brand ambassador". Economic Times Brand Equity. 29 March 2019. Retrieved 31 August 2019.
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