Lenskart partners with e-commerce platforms to strengthen online presence
Eyewear retailer Lenskart has strengthened its online presence by partnering with e-commerce majors like Nykaa, Myntra, Tata Cliq and other platforms to sell its products.
With this move, Lenskart aims to make deeper inroads in the country’s booming online market and expects online marketplaces to drive the company’s next phase of growth.
It is also expected to give its business goal of gaining 50 percent of the eyewear market share in India a boost with access to both metros and smaller cities through the etailers.
“This step highlights our continued efforts to fully transform into a true omnichannel brand to match our customers' changing preferences. Setting a foothold on online marketplaces will help us become even more accessible than before, while ensuring we continue to maintain our customers' trust and buying experience by selling on these platforms,” Lenskart CEO and co-founder Peeyush Bansal said in a statement.
“With the Covid-19 pandemic accelerating retail consumption, online marketplaces are expected to drive continued innovation and brand equity in the coming years. The strategy will leverage the brand's strong technology muscle to launch into new marketplaces with global aspiration and focus on brands including Lenskart, John Jacobs, Hooper and Aqualens,” he added.
Lenskart backed by Softbank and Temasek has received over $900 million in funding to date. The business runs stores across India and is also present in international markets including Singapore, Dubai, and the U.S.
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