Eyewear brand Lenskart expects 20% sales growth in the 2021 financial year, a reduced prediction from the the brand’s initial figure of between 40% and 50% growth. The brand has also reopened around 100 stores.
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.
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.
...Indian eyewear retailer Lenskart will invest $1 million (approx Rs 6.5 crore) to pick up a minority stake in Ditto, a 3D eyewear virtual trial company based in California, said a top company official.