Kannadaguy (talk | contribs) Created page with "{{Short description|Indian optical retail company}} {{Use dmy dates|date=September 2020}} {{Use Indian English|date=September 2020}} {{Infobox company | name = Lenskart | logo = Lenskart logo.svg | logo_size = 400px | type = Private | industry = {{plainlist| *Prescription eyewear *Opticians}} | founded = {{start date and age|2010}} | founder = {{plainlist| *Peyush Bansal *Amit Chaudhary *Sumeet Kapahi}} | num_locations_year = 2020 | ar..." |
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| name = Lenskart | | name = Lenskart | ||
| logo = Lenskart logo.svg | | logo = Lenskart logo.svg | ||
| logo_size = | | logo_size = 200 | ||
| type = [[Private company|Private]] | 0| type = [[Private company|Private]] | ||
| industry = {{plainlist| | | industry = {{plainlist| | ||
*[[Glasses|Prescription eyewear]] | *[[Glasses|Prescription eyewear]] | ||
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| num_employees_year = 2020 | | num_employees_year = 2020 | ||
| website = {{url|https://www.lenskart.com/|lenskart.com}} | | website = {{url|https://www.lenskart.com/|lenskart.com}} | ||
| hq_location_city = | | hq_location_city = [[Faridabad]], [[Haryana]] | ||
| location_country = | | location_country = India | ||
| num_locations = Over | | num_locations = Over 900 stores<ref name="Business Insider">{{cite web|title=Lenskart to launch 500 stores in 2020 and increase its focus on AI and digital marketing, says Co-founder, Amit Chaudhary |url= https://www.businessinsider.in/advertising/brands/article/lenskart-to-launch-500-stores-in-2020-and-increase-its-focus-on-ai-and-digital-marketing-says-co-founder-amit-chaudhary/articleshow/74640870.cms |access-date=2 July 2021}}</ref> | ||
| subsid = Neso Brands<ref>{{cite news |title=Lenskart-backed Neso Brands raises $100 million, appoints Bjorn Bergstrom CEO |url=https://www.financialexpress.com/industry/lenskart-backed-neso-brands-raises-100-million-appoints-bjorn-bergstrom-ceo/2528578/ |access-date=22 June 2022 |work=Financial Express |language=en}}</ref> | |||
}} | }} | ||
'''Lenskart''' is an Indian optical [[Glasses|prescription eyewear]] [[retail chain]], based in | '''Lenskart''' is an Indian optical [[Glasses|prescription eyewear]] [[retail chain]], based in [[Faridabad]].<ref>{{cite news |title=Lenskart plans to hire over 2,000 employees in India by next year |url=https://www.livemint.com/companies/news/lenskart-plans-to-hire-over-2-000-employees-in-india-by-next-year-11628679429872.html |access-date=16 February 2022 |work=mint |date=11 August 2021 |language=en}}</ref> As of September 2020, Lenskart had 500+ stores in over 40 cities in India.<ref name=":4">{{Cite web|url=https://www.businessinsider.in/lenskart-could-be-indias-next-unicorn-as-kedaara-softbank-are-in-talks-to-invest/articleshow/70942559.cms|title=9 years later, Lenskart set to be a unicorn having fought off losses and welcomed investors|last=Dash|first=Sanchita|date=2 September 2019|website=[[Business Insider]]|access-date=2019-09-08}}</ref><ref name=":1">{{Cite news|url=https://www.business-standard.com/article/companies/lenskart-sees-more-scope-of-growth-in-non-metros-ceo-peyush-bansal-119030400015_1.html|title=Lenskart sees more scope of growth in non-metros: CEO Peyush Bansal|last=Sikdar|first=Shubhomoy|date=4 March 2019|work=Business Standard India|access-date=2019-08-31}}</ref> Its manufacturing facility in New Delhi manufactures 3 lakh glasses a month.<ref name=":3">{{Cite web|last=Bali|first=Shinmin|date=4 November 2018|title=Expansion Plan: Lenskart eyes 50% market share|url=https://www.financialexpress.com/market/expansion-strategy-lenskart-eyes-50-market-share/1371767/|access-date=2019-08-31|website=The Financial Express|language=en-US}}</ref> | ||
== Revenue and Valuation == | == Revenue and Valuation == | ||
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In 2018, the company became profitable ([[Earnings before interest, taxes, depreciation, and amortization|EBITDA]]).<ref name=":3" /> Lenskart launched the eyewear brand John Jacobs in 2017.<ref>{{Cite web|url=https://www.thehindubusinessline.com/companies/john-jacobs-to-clock-500-cr-revenue-by-march-2021/article25985375.ece|title=John Jacobs to clock ₹500 cr revenue by March 2021|last=PTI|date=13 January 2019|website=The Hindu Business Line|language=en|access-date=2019-08-31}}</ref><ref>{{Cite web|url=https://www.livemint.com/Companies/9SgDbvAPg4TIqX01DdMA6H/Lenskart-invests-4-million-to-expand-John-Jacobs-brand-stor.html|title=Lenskart invests $4 million to expand John Jacobs brand stores|last=PTI|date=4 February 2018|website=Livemint|access-date=2019-08-31}}</ref> The company is in talks with Japanese group [[SoftBank Group|SoftBank]] as well as the private equity firm Kedaara Capital for investment.<ref>{{Cite web|url=https://www.businesstoday.in/current/corporate/lenskart-eyes-softbank-funding-to-enter-unicorn-club/story/350853.html|title=Lenskart to become the next unicorn! Softbank to invest $350m at $1.3bn valuation|date=27 May 2019|website=Business Today|access-date=2019-08-31}}</ref><ref name=":4" /> In October 2017, Lenskart's first brand ambassador was [[Katrina Kaif]].<ref>{{Cite web|url=https://www.moneycontrol.com/news/business/lenskart-ropes-in-katrina-kaif-as-brand-ambassador-2408223.html|title=Lenskart ropes in Katrina Kaif as brand ambassador|date=9 October 2017|website=Moneycontrol|access-date=2019-08-31}}</ref><ref>{{Cite news|url=https://economictimes.indiatimes.com/small-biz/startups/katrina-kaif-is-lenskarts-first-ever-ambassador/articleshow/61015339.cms|title=Katrina Kaif is Lenskart's first-ever ambassador|date=10 October 2017|work=The Economic Times|access-date=2019-08-31}}</ref> In March 2019, the company hired [[Bhuvan Bam]] as their first male brand ambassador.<ref>{{Cite web|url=https://brandequity.economictimes.indiatimes.com/news/marketing/lenskart-announces-bhuvan-bam-as-its-new-brand-ambassador/68624930|title=Lenskart announces Bhuvan Bam as its new brand ambassador|date=29 March 2019|website=Economic Times Brand Equity|language=en|access-date=2019-08-31}}</ref> | In 2018, the company became profitable ([[Earnings before interest, taxes, depreciation, and amortization|EBITDA]]).<ref name=":3" /> Lenskart launched the eyewear brand John Jacobs in 2017.<ref>{{Cite web|url=https://www.thehindubusinessline.com/companies/john-jacobs-to-clock-500-cr-revenue-by-march-2021/article25985375.ece|title=John Jacobs to clock ₹500 cr revenue by March 2021|last=PTI|date=13 January 2019|website=The Hindu Business Line|language=en|access-date=2019-08-31}}</ref><ref>{{Cite web|url=https://www.livemint.com/Companies/9SgDbvAPg4TIqX01DdMA6H/Lenskart-invests-4-million-to-expand-John-Jacobs-brand-stor.html|title=Lenskart invests $4 million to expand John Jacobs brand stores|last=PTI|date=4 February 2018|website=Livemint|access-date=2019-08-31}}</ref> The company is in talks with Japanese group [[SoftBank Group|SoftBank]] as well as the private equity firm Kedaara Capital for investment.<ref>{{Cite web|url=https://www.businesstoday.in/current/corporate/lenskart-eyes-softbank-funding-to-enter-unicorn-club/story/350853.html|title=Lenskart to become the next unicorn! Softbank to invest $350m at $1.3bn valuation|date=27 May 2019|website=Business Today|access-date=2019-08-31}}</ref><ref name=":4" /> In October 2017, Lenskart's first brand ambassador was [[Katrina Kaif]].<ref>{{Cite web|url=https://www.moneycontrol.com/news/business/lenskart-ropes-in-katrina-kaif-as-brand-ambassador-2408223.html|title=Lenskart ropes in Katrina Kaif as brand ambassador|date=9 October 2017|website=Moneycontrol|access-date=2019-08-31}}</ref><ref>{{Cite news|url=https://economictimes.indiatimes.com/small-biz/startups/katrina-kaif-is-lenskarts-first-ever-ambassador/articleshow/61015339.cms|title=Katrina Kaif is Lenskart's first-ever ambassador|date=10 October 2017|work=The Economic Times|access-date=2019-08-31}}</ref> In March 2019, the company hired [[Bhuvan Bam]] as their first male brand ambassador.<ref>{{Cite web|url=https://brandequity.economictimes.indiatimes.com/news/marketing/lenskart-announces-bhuvan-bam-as-its-new-brand-ambassador/68624930|title=Lenskart announces Bhuvan Bam as its new brand ambassador|date=29 March 2019|website=Economic Times Brand Equity|language=en|access-date=2019-08-31}}</ref> | ||
== | In June 2022, Lenskart announced an acquisition of majority stake in the Japanese eyewear brand Owndays. The deal is estimated at around $400 million.<ref>{{cite web |url= https://techcrunch.com/2022/06/30/lenskart-owndays/|title=Lenskart acquires majority stake in eyewear brand Owndays in $400 million deal|last=Singh|first=Manish|date=30 June 2022|website=Tech Crunch.com|publisher=Tech crunch|access-date=30 June 2022}}</ref> | ||
== References == | == References == | ||
| Line 46: | Line 46: | ||
==External links== | ==External links== | ||
*{{url|www.lenskart.com|Official site}} | *{{url|https://www.lenskart.com/|Official site}} | ||
[[Category:2010 establishments in Delhi]] | [[Category:2010 establishments in Delhi]] | ||
[[Category:Eyewear companies of India]] | [[Category:Eyewear companies of India]] | ||
[[Category:Eyewear brands of India]] | [[Category:Eyewear brands of India]] | ||
Revision as of 21:13, 30 June 2022
 | |
| Industry | |
|---|---|
| Founded | 2010 |
| Founder(s) |
|
| Headquarters | , India |
Number of locations | Over 900 stores[1] (2020) |
Area served | Worldwide |
Key people | |
| Revenue |  ₹963 crore (US$100 million) (FY 2020)[2] |
| ₹17 crore (US$1.8 million) (FY 2020)[2] | |
Number of employees | 5,000+ (2020) |
| Subsidiaries | Neso Brands[3] |
| Website | lenskart.com |
Lenskart is an Indian optical prescription eyewear retail chain, based in Faridabad.[4] As of September 2020, Lenskart had 500+ stores in over 40 cities in India.[5][6] Its manufacturing facility in New Delhi manufactures 3 lakh glasses a month.[7]
Revenue and Valuation
The company had a valuation of $1 billion by December 2019 after Softbank invested around $2 million.[8] Peyush Bansal, a former Microsoft employee, founded Lenskart in 2010 along with Amit Chaudhary and Sumeet Kapahi.[9] In 2020, Lenskart generated total revenue of ₹1,000+ crore.[10] Financial backers of Lenskart include TPG Growth, International Finance Corporation and Adveq Management.[11]
Ratan Tata and Kris Gopalakrishnan have also invested in Lenskart.[12] In March 2018, Wipro’s Chairman Azim Premji invested ₹4 crore in the group, taking the valuation of the company to ₹3,000 crore.[13][12]
In 2018, the company became profitable (EBITDA).[7] Lenskart launched the eyewear brand John Jacobs in 2017.[14][15] The company is in talks with Japanese group SoftBank as well as the private equity firm Kedaara Capital for investment.[16][5] In October 2017, Lenskart's first brand ambassador was Katrina Kaif.[17][18] In March 2019, the company hired Bhuvan Bam as their first male brand ambassador.[19]
In June 2022, Lenskart announced an acquisition of majority stake in the Japanese eyewear brand Owndays. The deal is estimated at around $400 million.[20]
References
- ↑ "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.
- ↑ 2.0 2.1 "[What The Financials] Lenskart Turns Profitable In FY20, Revenue Nears INR 1000 Cr". Inc42 Media. 23 February 2021. Retrieved 29 October 2021.
- ↑ "Lenskart-backed Neso Brands raises $100 million, appoints Bjorn Bergstrom CEO". Financial Express. Retrieved 22 June 2022.
- ↑ "Lenskart plans to hire over 2,000 employees in India by next year". mint. 11 August 2021. Retrieved 16 February 2022.
- ↑ 5.0 5.1 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.
- ↑ Sikdar, Shubhomoy (4 March 2019). "Lenskart sees more scope of growth in non-metros: CEO Peyush Bansal". Business Standard India. Retrieved 31 August 2019.
- ↑ 7.0 7.1 Bali, Shinmin (4 November 2018). "Expansion Plan: Lenskart eyes 50% market share". The Financial Express. Retrieved 31 August 2019.
- ↑ "SoftBank Vision Fund invests $275M in India's Lenskart". TechCrunch.
- ↑ 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.
- ↑ Lenskart
- ↑ 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.
- ↑ 12.0 12.1 Sarkar, Ranju (23 May 2016). "How LenskartBold text is defying the start-up trend". Rediff. Business Standard. Retrieved 31 August 2019.
- ↑ 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.
- ↑ PTI (13 January 2019). "John Jacobs to clock ₹500 cr revenue by March 2021". The Hindu Business Line. Retrieved 31 August 2019.
- ↑ PTI (4 February 2018). "Lenskart invests $4 million to expand John Jacobs brand stores". Livemint. Retrieved 31 August 2019.
- ↑ "Lenskart to become the next unicorn! Softbank to invest $350m at $1.3bn valuation". Business Today. 27 May 2019. Retrieved 31 August 2019.
- ↑ "Lenskart ropes in Katrina Kaif as brand ambassador". Moneycontrol. 9 October 2017. Retrieved 31 August 2019.
- ↑ "Katrina Kaif is Lenskart's first-ever ambassador". The Economic Times. 10 October 2017. Retrieved 31 August 2019.
- ↑ "Lenskart announces Bhuvan Bam as its new brand ambassador". Economic Times Brand Equity. 29 March 2019. Retrieved 31 August 2019.
- ↑ Singh, Manish (30 June 2022). "Lenskart acquires majority stake in eyewear brand Owndays in $400 million deal". Tech Crunch.com. Tech crunch. Retrieved 30 June 2022.