Lenskart to enter U.S. market, open technology centre in New York

By

Maverick Martins

Published
Sep 3, 2021

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.