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Company type | Private |
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Industry | |
Founded | 2010 |
Founders |
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Headquarters | , India |
Number of locations | 2,000+ retail stores (2022) |
Area served | |
Key people | Peyush Bansal (Chairman; MD & CEO) |
Revenue | ![]() |
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Number of employees | 5,000+ (2020) |
Subsidiaries |
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Website | lenskart.com |
Lenskart is an Indian multinational optical prescription eyewear retail chain, based in Gurugram. [5] As of March 2023, [update] [2] Its manufacturing facility in New Delhi manufactures 3 lakh glasses a month. [6] [7] [8] Lenskart is building an automated factory in Bhiwadi, Rajasthan, with an annual production capacity of 5 crore glasses. [1]
Peyush Bansal, a former Microsoft employee, founded Lenskart.com in 2010 along with Amit Chaudhary and Sumeet Kapahi. [9] In 2011, early investor IDG Ventures India directed the company to also sell wristwatches, bags and jewellery online to replicate Titan Company's business. [10] [11] In 2011, the company launched Watchkart.com and Bagskart.com, and the following year, it started Jewelskart.com. [12] By the end of 2014, only Lenskart.com remained operative as the company shut down its other three websites to focus on the eyewear segment. [13]
Lenskart launched the eyewear brand John Jacobs in 2017. [14] [15] In October 2017, Lenskart signed up its first brand ambassador Katrina Kaif. [16] [17] In 2018, the company became profitable, EBITDA positive. [6] In March 2019, the company hired Bhuvan Bam as its first male brand ambassador. [18]
In June 2022, Lenskart announced the acquisition of a majority stake in the Japanese eyewear brand Owndays in a cash-and-stock deal which valued Owndays at around US$400 million. [19]
In 2011, IDG Ventures India invested $4 million in the company. In January 2015, the company raised ₹135 crore from TPG Growth, TR Capital and IDG Ventures India. [20] In May 2016, International Finance Corporation, Adveq Management, TPG Growth and IDG Ventures India invested a total of $60 million in Lenskart. The company also saw investments from Ratan Tata and Kris Gopalakrishnan. [21] In September 2016, Wipro's Chairman Azim Premji invested around ₹200 crore in Lenskart through his family office PremjiInvest. [22]
Lenskart was valued at over $1 billion in December 2019 after SoftBank Vision Fund invested $275 million. [23] [7] In May 2021, KKR invested $95 million, [24] and in July 2021, Temasek and Falcon Edge Capital (Alpha Wave Global) led a $220 million investment round at a valuation of $2.5 billion. [25] In July 2022, Lenskart was valued at $4.5 billion following a $200 million funding round led by Alpha Wave Global. [26]
In March 2023, the Abu Dhabi Investment Authority invested $500 million in Lenskart at a valuation of $4.5 billion. [2] In June 2023, the company raised $100 million from ChrysCapital. [27]
In June 2024, Lenskart secured $200 Million from Temasek and Fidelity. [28]
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