John Jacobs to add 50 new stores, targets Rs 500 revenue by 2021

By

Maverick Martins

Published
Jan 14, 2019

Lenskart's eyewear brand John Jacobs will expand its retail presence in the country with the addition of 50 new stores over the next two years with an aim to generate sales worth Rs 500 crore (approx $71 million).
 

The company will invest around Rs 15 crore on its retail expansion with a focus on major metro cities across India. It is also in talks with e-commerce players to strengthen its online presence and will start selling soon on Flipkart.
 
John Jacobs contributes between 20 and 25 percent to the company’s overall sales and is expected to contribute around Rs 180 crore this fiscal. Lenskart had posted revenue of Rs 311 crore in the fiscal year 2018.

"John Jacobs has been witnessing strong growth, we expect to close this fiscal with a topline of Rs 180 crore. By March 2021, we expect our revenues to touch Rs 500 crore," John Jacobs business head, Manan Duggal told PTI.
 
"We are aggressively growing our presence both in online and offline. The brand is already retailing through Lenskart outlets. The aim is to take the number of our own stores from 8 now to 50, by March 2021, covering all major metro cities. The store expansion will entail an investment of about Rs 10-15 crore," he added.
 
"In terms of online reach, we are already there on Lenskart and Amazon.in and will soon be available on Flipkart as well,” he further added.
 
John Jacobs currently has eight exclusive stores and also sells on its parent Lenskart's platform online and at over 450 stores across India.