Lenskart to enter U.S. market, open technology centre in New York
Indian eyewear retailer Lenskart plans to enter the U.S. market and open a technology centre in the city of New York, as it aims to be a top player in the global eyewear market.
Lenskart has recently closed a $220 million (Rs 1,463.6 crore) funding round at a valuation of $2.5 billion to fuel its global expansion plans and announced entry into Singapore and the Middle East.
The company will make heavy investments in the U.S. market and plans to build a highly specialised technical team across product, design, and consumer research.
Commenting on the expansion, Peyush Bansal CEO and co-founder of Lenskart in a statement said: “Expanding in the U.S. brings us another step closer to transforming the vision of the world. Given our scale and global reach, Lenskart can bring a wide catalogue of over 2000 product styles to the U.S. market, especially for new-age consumption patterns. The tech centre in the U.S. will enable the company’s growth in the country.”
In India, Lenskart plans to continue to expand its brick-and-mortar store network alongside its e-commerce business and open 300 new stores this year.
Founded in 2010 by Bansal, Khurana, Amit Chaudhary, and Sumeet Kapahi, Lenskart is an omnichannel retailer and manufacturer of eyewear accessories.
Copyright © 2021 FashionNetwork.com All rights reserved.