Lenskart eyes aggressive expansion for growth

By

Maverick Martins

Published
Jan 30, 2017

Indian eyewear company Lenskart plans to expand aggressively in tier I and II cities across the country by setting up 20 brick-and-mortar stores a month to strengthen its hold in the market.

"We have focussed on ensuring that when we launch a new channel to reach out to consumers, it doesn't cannibalise on the other channels... We are adding about 20 stores a month in neighbourhood markets across tier I and II cities," Lenskart, CEO, Peyush Bansal told a news agency.

The company aims to seal the ongoing fiscal with a monthly revenue run rate of Rs 40 crore. It is currently processing about 6,000 orders daily.

Lenskart also launched its 'Lenskart Lite' app to boost sales in tier III and IV towns and expects it to "contribute to about 25 per cent of the revenues" in the coming years, said Bansal.

Lenskart already has about 250 stores in 90 cities operating through the franchise route.
Founded in 2010, Lenskart has raised over Rs 700 crore from investors like IFC (venture capital arm of the World Bank), Ratan Tata, Kris Gopalakrishnan (Infosys co-founder), TPG Growth, IDG Ventures, Unilazer Ventures and Adveq.