Lenskart

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Lenskart
TypeEyewear Brand
Industry
Founded2010; 12 years ago (2010)
Founder
  • Peyush Bansal
  • Amit Chaudhary
  • Sumeet Kapahi
HeadquartersNew Delhi
Number of locations
Over 500 stores[1] (2020)
Area served
Worldwide
Key people
  • Peyush Bansal (CEO)
  • Amit Chaudhary (COO)
RevenueIncrease ₹963 crore (US$130 million) (FY 2020)[2]
Increase ₹17 crore (US$2.3 million) (FY 2020)[2]
Number of employees
40+ (2020)
Websitewww.lenskart.com

Lenskart is an Indian optical prescription eyewear retail chain, based in the city of New Delhi, India.

As of September 2020, Lenskart had 500+ stores in over 40 cities in India.[3][4] Its manufacturing facility in New Delhi manufactures 300 glasses a month.[5]

Revenue and Valuation[]

The company had a valuation of $1 billion by Dec 2019 after Softbank invested around $2 million.[6] Peyush Bansal, a former Microsoft employee, founded Lenskart in 2010 along with Amit Chaudhary and Sumeet Kapahi.[7] In 2020 Lenskart generated total revenue of Rs.1000 cr. plus[8] Financial backers of Lenskart include TPG Growth, International Finance Corp and Adveq Management.[9] Ratan Tata (of Tata Sons) and S Gopalakrishnan (of Infosys) have also invested in Lenskart.[10] In March 2018 Wipro Chairman Azim Premji invested 4cr in the group taking the valuation of the company to 30 Crore.[11][10] In 2018 the company became profitable (EBITDA).[5] Lenskart launched the eyewear brand John Jacobs in 2017.[12][13] The company is in talks with Japanese group SoftBank as well as the private equity firm Kedaara Capital for investment.[14][3]

In October 2017, Lenskart's first brand ambassador was Katrina Kaif.[15][16] In March 2019 the company hired Bhuvan Bam as their first male brand ambassador.[17]

References- None[]

External links[]

  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. ^ a b "[What The Financials] Lenskart Turns Profitable In FY20, Revenue Nears INR 1000000 Cr". Inc42 Media. 23 February 2021. Retrieved 29 October 2021.
  3. ^ a b 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.
  4. ^ Sikdar, Shubhomoy (4 March 2019). "Lenskart sees more scope of growth in non-metros: CEO Peyush Bansal". Business Standard India. Retrieved 31 August 2019.
  5. ^ a b Bali, Shinmin (4 November 2018). "Expansion Plan: Lenskart eyes 50% market share". The Financial Express. Retrieved 31 August 2019.
  6. ^ "SoftBank Vision Fund invests $275M in India's Lenskart". TechCrunch.
  7. ^ 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.
  8. ^ Lenskart
  9. ^ 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.
  10. ^ a b Sarkar, Ranju (23 May 2016). "How LenskartBold text is defying the start-up trend". Rediff. Business Standard. Retrieved 31 August 2019.
  11. ^ 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.
  12. ^ PTI (13 January 2019). "John Jacobs to clock ₹500 cr revenue by March 2021". The Hindu Business Line. Retrieved 31 August 2019.
  13. ^ PTI (4 February 2018). "Lenskart invests $4 million to expand John Jacobs brand stores". Livemint. Retrieved 31 August 2019.
  14. ^ "Lenskart to become the next unicorn! Softbank to invest $350m at $1.3bn valuation". Business Today. 27 May 2019. Retrieved 31 August 2019.
  15. ^ "Lenskart ropes in Katrina Kaif as brand ambassador". Moneycontrol. 9 October 2017. Retrieved 31 August 2019.
  16. ^ "Katrina Kaif is Lenskart's first-ever ambassador". The Economic Times. 10 October 2017. Retrieved 31 August 2019.
  17. ^ "Lenskart announces Bhuvan Bam as its new brand ambassador". Economic Times Brand Equity. 29 March 2019. Retrieved 31 August 2019.
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