Lenskart
Overview
Lenskart is a leading omnichannel eyewear retailer based in India, founded in 2010 by Peyush Bansal, Amit Chaudhary, and Sumeet Kapahi. The company sells prescription eyewear, sunglasses, and contact lenses through its online platform and physical stores. Headquartered in Gurugram, Lenskart has expanded its presence internationally, operating in several countries across Asia and the Middle East. As of October 2025, Lenskart is preparing for its initial public offering (IPO) that values the company at approximately $10 billion.
Recent Developments
- October 2025: Lenskart is poised to launch an IPO, expecting to raise between ₹7,500 to ₹8,000 crore. The IPO, which includes both a fresh issue and an offer for sale, aims to capitalize on the company’s strong financial turnaround, having achieved a net profit of ₹297 crore in FY25.
- October 2025: The Securities and Exchange Board of India (SEBI) gave Lenskart the green light to go public. The firm has revealed plans to use some of the IPO proceeds to expand its store network, invest in technology, and fund potential acquisitions.
- October 2025: Lenskart introduced its B Camera Smartglasses, which feature AI-based camera functionality and UPI payment abilities, positioning Lenskart as a pioneer in wearable fintech solutions.
- July 2025: Lenskart acquired an 80% stake in the Spanish eyewear brand Meller for ₹407 crore. The acquisition marks another step in Lenskart's strategy to strengthen its international presence.
- 2025: Lenskart's revenue rose to ₹6,652.5 crore, a 22.5% increase from the previous fiscal year, marking a significant financial comeback.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2010 |
| Headquarters | Gurugram, India |
| Founders | Peyush Bansal, Amit Chaudhary, Sumeet Kapahi |
| Revenue | ₹6,652.5 crore (FY25) |
| Profits | ₹297.34 crore (FY25) |
| Key Investors | SoftBank, Temasek, Kedaara Capital, Alpha Wave Global |
| Industry | Eyewear |
| Number of Employees | 15,516 (as of June 2025) |
Early History
Lenskart was founded in 2010 by Peyush Bansal, alongside Amit Chaudhary and Sumeet Kapahi, with the vision of making eyewear accessible and affordable in India. Initially launched as an online platform, Lenskart sought to disrupt the traditional eyewear market by leveraging technology to enhance the purchasing experience. By 2013, the company ventured into brick-and-mortar by opening its first retail store, setting the stage for its now significant omnichannel strategy. Early investor support from IDG Ventures India and the launch of technology features like virtual try-on propelled the company’s early growth.
Company Profile and Achievements
Lenskart's business model incorporates a vertically integrated approach, controlling the entire supply chain from design to retail. This strategy allows for competitive pricing and quality control. Significant achievements include:
- 2013: Opening of the first Lenskart retail store.
- 2019: Reached unicorn status with a valuation over $1 billion after investment from SoftBank.
- 2022: Acquisition of Japanese eyewear brand Owndays for $400 million, enhancing its international footprint.
- 2024: Awarded 'Startup of the Year' at the ET Startup Awards, recognizing its significant market impact and innovation.
- 2025: Achieved a historic financial milestone by turning its first annual profit and planning its first IPO, signifying its maturation as a corporate entity.
Current Operations and Market Position
Lenskart operates a robust network of over 3,150 stores across 14 countries, with India as its primary market. Lenskart's technological expertise, including AI-driven virtual try-on and personalized recommendations, has solidified its competitive edge. The company's target is to increase its market share from 10% to 25% by FY30 through strategic expansions and leveraging its innovative product offerings, such as AI-enabled smart glasses.
Conclusion
Lenskart has firmly established itself as a dominant player in the eyewear industry, with a strong omnichannel presence and a commitment to integrating technology into its offerings. The upcoming IPO is set to position Lenskart not just as a retail leader but as a forward-thinking tech-enabled brand on the global stage. With strategic growth plans and continuous investment in technology and infrastructure, Lenskart is poised to continue reshaping the eyewear market landscape.