Startupedia

Lenskart

Revision as of 11:51, 21 May 2025 by Startupedia (talk | contribs) (Creating Lenskart)
(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)

Lenskart is an Indian omnichannel eyewear retail company headquartered in Gurugram, Haryana. Founded in 2010, it offers prescription eyeglasses, sunglasses, and contact lenses through its online platform and over 2,500 physical stores, with 2,000 in India. The company operates a vertically integrated model, designing, manufacturing, and retailing eyewear. Lenskart has raised approximately $1.8 billion in funding and was valued at $5.6 billion in 2024. It serves customers in India, Southeast Asia, the Middle East, and Japan, competing with brands like Titan Eye+, Warby Parker, and Luxottica. Lenskart is known for innovations such as 3D try-on technology and home eye check-ups, positioning it as a leader in India's eyewear market, projected to reach $6.24 billion in 2025.[1][2]

Lenskart
Company typePrivate
IndustryRetail, E-commerce, Fashion technology
FoundedNovember 2010; 14 years ago (2010-11)
Founder
  • Peyush Bansal
  • Amit Chaudhary
  • Sumeet Kapahi
HeadquartersGurugram, Haryana, India
Area served
  • India
  • Southeast Asia
  • Middle East
  • Japan
Key people
  • Peyush Bansal (CEO)
  • Amit Chaudhary (COO)
  • Sumeet Kapahi (CTO)
Products
  • Eyeglasses
  • Sunglasses
  • Contact lenses
  • Smart audio glasses
Revenue₹5,427.7 crore (US$630 million) (FY24)
Number of employees
10,136 (2025)
ParentLenskart Solutions Private Limited
Websitewww.lenskart.com

Founders & Leadership

Lenskart was founded by Peyush Bansal, Amit Chaudhary, and Sumeet Kapahi in 2010.

  • Peyush Bansal (CEO): An alumnus of McGill University (B.Eng., Electrical Engineering) and IIM Bangalore (PGDM), Bansal worked as a program manager at Microsoft in the US before returning to India. He founded Valyoo Technologies, Lenskart's parent company, and is a prominent figure on Shark Tank India.[2]
  • Amit Chaudhary (COO): Chaudhary, with a background in operations, has been instrumental in scaling Lenskart’s supply chain and manufacturing. He focuses on operational efficiency and strategic partnerships.[3]
  • Sumeet Kapahi (CTO): Kapahi oversees Lenskart’s technological innovations, including its 3D try-on and virtual mirror features. His expertise drives the company’s digital transformation.[2]

Timeline

Year Milestone
2008 Lenskart Solutions Private Limited incorporated.[4]
2010 Lenskart founded by Peyush Bansal, Amit Chaudhary, and Sumeet Kapahi.[2]
2011 Launched contact lenses; raised $4 million from IDG Ventures India.[5]
2015 Raised ₹135 crore from TPG Growth, TR Capital, and IDG Ventures.[5]
2016 Expanded to 100 stores; raised $60 million from IFC, Adveq, TPG Growth.[5]
2019 Achieved unicorn status with $275 million from SoftBank.[6]
2022 Acquired majority stake in Owndays for $400 million.[7]
2023 Raised $500 million from ADIA; revenue reached ₹3,788 crore.[8]
2024 Raised $200 million from Temasek and Fidelity; valued at $5 billion.[5]
2025 Announced $1 billion IPO plans with $7-10 billion valuation.[9]

Funding

Date Round Amount Investors
October 2011 Seed $4 million IDG Ventures India[5]
January 2015 Series B ₹135 crore TPG Growth, TR Capital, IDG Ventures India[5]
May 2016 Series C $60 million IFC, Adveq Management, TPG Growth, IDG Ventures[5]
December 2019 Series F $275 million SoftBank[6]
March 2023 Series I $500 million Abu Dhabi Investment Authority (ADIA)[8]
June 2023 Series J $100 million ChrysCapital[5]
June 2024 Secondary $200 million Temasek, Fidelity Management[5]

Business Model

Lenskart operates an omnichannel business model, combining online and offline retail to sell eyewear. Its primary revenue streams include sales of prescription eyeglasses, sunglasses, and contact lenses, alongside subscription services like Lenskart Gold, offering benefits such as free eye tests and discounts.[10] The company sources high-quality frames and lenses directly from manufacturers, eliminating intermediaries to maintain affordability.[3] Lenskart targets budget-conscious and fashion-conscious consumers, offering over 5,000 frame styles and 45 lens types.[10] Its franchise model shares 35% of revenue with franchisees, alongside a ₹2 lakh annual fee.[10] Innovations like 3D try-on, virtual mirrors, and home eye check-ups enhance customer experience.[11]

Products / Services

Lenskart offers a range of eyewear products and services, including:

  • Eyeglasses: Prescription glasses in styles like wayfarer, oval, and cat-eye, starting at ₹399.[12]
  • Sunglasses: Branded and in-house options, including prescription sunglasses.[13]
  • Contact Lenses: Disposable, toric, colored, and bifocal lenses from brands like Bausch & Lomb and Johnson & Johnson.[12]
  • Smart Audio Glasses: Phonic smart glasses launched in 2025, priced at ₹4,000.[14]
  • Services: Home eye check-ups, 3D try-on, and "try at home" for up to five frames.[10]

Growth & Metrics

As of 2025, Lenskart operates over 2,500 stores globally, with 2,000 in India, processing 300,000 monthly orders.[15] Its revenue grew 43% from ₹3,788 crore in FY23 to ₹5,427.7 crore in FY24, with a reduced net loss of ₹10 crore.[16] The company employs 10,136 people, up from 3,250 in 2024.[17] Lenskart’s India operations contribute 58% of revenue, with 42% from international markets like Japan and Singapore.[18] It produces 25 million frames and 30-40 million lenses annually.[7]

Legal Entity Information

Field Details
Legal Name Lenskart Solutions Private Limited
Foundation Date 18 May 2008
Registrar of Companies ROC Delhi
Corporate Identification Number (CIN) U33100DL2008PTC178355
Registered Address Gurugram, Haryana, India
Company Status Active
Directors Peyush Bansal, Neha Bansal, others (11 total)[4]
Authorized Share Capital ₹444,820,000
Paid-up Capital ₹289,365,680

Acquisitions and Investments

Lenskart has made strategic acquisitions and investments to expand its market presence and technology:

  • Acquisitions:
    • Owndays (2022): Acquired a majority stake in the Japanese eyewear brand for $400 million.[7]
    • Tango Eye (2023): AI-based computer vision startup to enhance store and manufacturing analytics.[16]
    • Le Petit Lunetier (2023): Invested $4 million in the Paris-based eyewear brand.[5]
  • Investments:
    • Metadome, GeoIQ, and others: Made nine investments to support eyewear and retail innovation.[1]

Media & Public Recognition

Lenskart has received significant media coverage and accolades:

FAQs

What is Lenskart’s primary business?
Lenskart is an omnichannel eyewear retailer selling prescription glasses, sunglasses, and contact lenses through online platforms and physical stores.[10]
Who founded Lenskart?
Lenskart was founded by Peyush Bansal, Amit Chaudhary, and Sumeet Kapahi in 2010.[2]
What is Lenskart’s valuation?
As of November 2024, Lenskart is valued at $5.6 billion, with IPO plans targeting $7-10 billion.[1][9]
Where does Lenskart operate?
Lenskart operates in India, Southeast Asia, the Middle East, and Japan, with over 2,500 stores.[16]

External Links

Related Startups

References

  1. ↑ 1.0 1.1 1.2 "Lenskart - 2025 Company Profile". Tracxn. 16 May 2025. Retrieved 21 May 2025.
  2. ↑ 2.0 2.1 2.2 2.3 2.4 "Lenskart Success Story". StartupTalky. 17 February 2025. Retrieved 21 May 2025.
  3. ↑ 3.0 3.1 "Lenskart E-Commerce Success Story". SoftBank Vision Fund. 16 March 2023. Retrieved 21 May 2025.
  4. ↑ 4.0 4.1 "Lenskart Solutions Private Limited - 2025 Financials". Tracxn. 15 April 2025. Retrieved 21 May 2025.
  5. ↑ 5.00 5.01 5.02 5.03 5.04 5.05 5.06 5.07 5.08 5.09 5.10 "Lenskart Raises $200 Million". Business Standard. 3 June 2024. Retrieved 21 May 2025.
  6. ↑ 6.0 6.1 "Lenskart Case Study". The Indianpreneur. 21 May 2020. Retrieved 21 May 2025.
  7. ↑ 7.0 7.1 7.2 7.3 7.4 "Lenskart Eyes $10 Billion Valuation". The Times of India. 17 February 2025. Retrieved 21 May 2025.
  8. ↑ 8.0 8.1 "Lenskart Raised $500 Mn". X. 16 March 2023. Retrieved 21 May 2025.
  9. ↑ 9.0 9.1 "Lenskart Pitches for $1 Bn IPO". Outlook Business. 10 January 2025. Retrieved 21 May 2025.
  10. ↑ 10.0 10.1 10.2 10.3 10.4 "Lenskart Business Model". StartupTalky. 4 March 2025. Retrieved 21 May 2025.
  11. ↑ "Lenskart Business Model: Revenue & Cost Structure". Wafflebytes. 23 March 2023. Retrieved 21 May 2025.
  12. ↑ 12.0 12.1 "Lenskart Company Profile". Crunchbase. 3 June 2024. Retrieved 21 May 2025.
  13. ↑ "Lenskart.com". Lenskart. 2 May 2022. Retrieved 21 May 2025.
  14. ↑ 14.0 14.1 "Lenskart Company Profile". Owler. 13 February 2025. Retrieved 21 May 2025.
  15. ↑ "Lenskart: Accessibility and Growth". PrivateCircle. 30 October 2024. Retrieved 21 May 2025.
  16. ↑ 16.0 16.1 16.2 "Lenskart Prepares for IPO". Business Standard. 9 January 2025. Retrieved 21 May 2025.
  17. ↑ "Lenskart 2025 Company Profile". PitchBook. 1 January 2025. Retrieved 21 May 2025.
  18. ↑ "Lenskart FY24 Revenue". X. 6 November 2024. Retrieved 21 May 2025.
  19. ↑ "India's D2C Startup Funding Drops 18% in 2024". Financial Express. 17 April 2025. Retrieved 21 May 2025.
  20. ↑ "Darwinbox to Raise $150 Million". Moneycontrol. 26 February 2025. Retrieved 21 May 2025.
  21. ↑ "Lenskart & Zepto Bring You Phonic". Adgully. 19 February 2025. Retrieved 21 May 2025.
Retrieved from "http://startupwiki.ai/index.php?title=Lenskart&oldid=2152"