 | |
| 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.