Lenskart has raises around $275 million (Rs 1,956 crore) from Softbank Vision Fund. The company will be using the funds to enhance its technology capabilities and strengthening its supply chain infrastructure.
John Galliano has renewed his contract as creative director of the house of Maison Margiela, in a vote of confidence in the controversial British designer by the brand's owner, Italian billionaire Renzo Rosso.
Growing demand for vision correction should boost sales of Ray Bans and other eyeglasses, EssilorLuxottica said on Wednesday, with profits also driven by cost cuts of up to 600 millions euros a year from 2022.
Zara continues to be the group’s largest brand, while Stradivarius and Uterqüe are the fastest-growing formats. FashionNetwork.com takes an in depth look at brand performance and Inditex’s long-term vision.
SoftBank’s vision fund has advanced its talks with Lenskart as its proposed investment looks set to take the eyewear business’ valuation close to $1.5 billion (Rs 9,979 crore) and fuel its planned global expansion.