Bot at 19:07, 5 March 2023

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{{Short description| Indian optical retail company}}
{{Use dmy dates|date=September 2020}}
{{Use Indian English|date=September 2020}}
{{Infobox company
| name = Lenskart
| logo = Lenskart logo.svg
| logo_size = 200
| type = [[Private company|Private]]
| industry = {{plainlist|
*[[Glasses|Prescription eyewear]]
*[[Optician]]s}}
| founded = {{start date and age|2010}}
| founders = {{plainlist|
*Peyush Bansal
*Amit Chaudhari<ref name="Business Insider">{{cite web|title=Lenskart to launch 500 stores in 2020 and increase its focus on AI and digital marketing, says Co-founder, Amit Chaudhary |url= https://www.businessinsider.in/advertising/brands/article/lenskart-to-launch-500-stores-in-2020-and-increase-its-focus-on-ai-and-digital-marketing-says-co-founder-amit-chaudhary/articleshow/74640870.cms |access-date=2 July 2021}}</ref>
*Sumeet Kapahi}}
| num_locations_year = 2022
| area_served = {{plainlist|
*India
*Singapore
*United Arab Emirates
*United States}}
| key_people = Peyush Bansal {{Smaller|(Chairman; MD & CEO)}}
| revenue = {{up}} {{INRconvert|1503|c|lk=on}} (FY 2022)<ref name="FY20"/>
| net_income = {{down}} {{INRconvert|-102|c}} (FY 2022)<ref name="FY20">{{cite news |title=Lenskart scale surpasses Rs 1,500 Cr in FY22, slips into losses |url=https://entrackr.com/2022/11/lenskart-scale-surpasses-rs-1500-cr-in-fy22-slips-into-losses/ |access-date=29 November 2022 |work=Entrackr|date=10 November 2022}}</ref>
| num_employees = 5,000+
| num_employees_year = 2020
| website = {{URL|https://www.lenskart.com/|lenskart.com}}
| hq_location_city = [[Faridabad]], [[Haryana]]
| location_country = India
| num_locations = 1000+ stores
| subsid = {{plainlist|
*Owndays
*Neso Brands<ref>{{cite news |title=Lenskart-backed Neso Brands raises $100 million, appoints Bjorn Bergstrom CEO |url=https://www.financialexpress.com/industry/lenskart-backed-neso-brands-raises-100-million-appoints-bjorn-bergstrom-ceo/2528578/ |access-date=22 June 2022 |work=Financial Express |language=en}}</ref>}}
}}

'''Lenskart''' is an Indian multinational optical [[Glasses|prescription eyewear]] [[retail chain]], based in [[Faridabad]].<ref>{{cite news |title=Lenskart plans to hire over 2,000 employees in India by next year |url=https://www.livemint.com/companies/news/lenskart-plans-to-hire-over-2-000-employees-in-india-by-next-year-11628679429872.html |access-date=16 February 2022 |work=mint |date=11 August 2021 |language=en}}</ref> {{As of|May 2022|post=,}} Lenskart has 1,000 stores across 223 cities in India.<ref name=":4">{{Cite web|url=https://retail.economictimes.indiatimes.com/news/apparel-fashion/accessories/lenskart-raises-another-25-million-in-series-i-round-announces-opening-of-1000th-store-in-the-country/91304528|title=Lenskart raises another $25 million in series I round; announces opening of 1,000th store in the country|date=4 May 2022|website=Economic Times|access-date=15 January 2023}}</ref><ref name=":1">{{Cite news|url=https://www.business-standard.com/article/companies/lenskart-sees-more-scope-of-growth-in-non-metros-ceo-peyush-bansal-119030400015_1.html|title=Lenskart sees more scope of growth in non-metros: CEO Peyush Bansal|last=Sikdar|first=Shubhomoy|date=4 March 2019|work=Business Standard India|access-date=2019-08-31}}</ref> Its manufacturing facility in New Delhi manufactures 3 lakh glasses a month.<ref name=":3">{{Cite web|last=Bali|first=Shinmin|date=4 November 2018|title=Expansion Plan: Lenskart eyes 50% market share|url=https://www.financialexpress.com/market/expansion-strategy-lenskart-eyes-50-market-share/1371767/|access-date=2019-08-31|website=The Financial Express|language=en-US}}</ref>

Lenskart is building an automated factory in [[Bhiwadi]], [[Rajasthan]], with a production capacity of 5 crore glasses annually.<ref>{{cite news |title=Lenskart may shift SE Asia manufacturing to India plant |url=https://www.livemint.com/industry/manufacturing/lenskart-may-shift-se-asia-manufacturing-to-india-plant-11661706547231.html |access-date=15 January 2023 |work=mint |date=29 August 2022|language=en}}</ref>

== History ==
Peyush Bansal, a former [[Microsoft]] employee, founded Lenskart.com in 2010 along with Amit Chaudhary and Sumeet Kapahi.<ref>{{Cite news|url=https://economictimes.indiatimes.com/jobs/peyush-bansal-founder-of-lenskart-in-india-selling-eyewear-talks-about-his-business-journey/articleshow/10621495.cms?from=mdr|title=Peyush Bansal, founder of Lenskart in India, selling eyewear talks about his business journey|last=Poduwal|first=Sunanda|date=6 November 2011|work=The Economic Times|access-date=2019-08-31}}</ref> In 2011, [[Chiratae Ventures|IDG Ventures India]] invested $4 million in the company and mandated it to also sell wristwatches, bags and jewellery online to replicate [[Titan Company]]'s business.<ref>{{Cite web|url=https://www.reuters.com/article/idINIndia-60244020111101|title=Valyoo Technologies raises $4M from IDG Ventures India|date=1 November 2011|website=Reuters|access-date=15 January 2023}}</ref><ref>{{Cite web|url=https://www.forbesindia.com/article/unicorn-tracker/adjust-focus-how-peyush-bansal-built-lenskart-into-a-profitable-unicorn/79911/1|title=Adjust focus: How Peyush Bansal built Lenskart into a profitable unicorn|date=19 September 2022|website=Forbes India|access-date=15 January 2023}}</ref> In 2011, the company launched Watchkart.com and Bagskart.com, and the following year, it started Jewelskart.com.<ref>{{Cite web|url=https://www.techcircle.in/2012/02/16/after-lenskart-watchkart-bagskart-valyoo-technologies-jewelskart-com-goes-live|title=After Lenskart, Watchkart & Bagskart, Valyoo Technologies' Jewelskart.com Goes Live|date=16 February 2012|website=TechCircle|access-date=15 January 2023}}</ref> By the end of 2014, only Lenskart.com remained operative as the company shut down its other three websites.<ref>{{Cite web|url=https://www.vccircle.com/lenskarts-peyush-bansal-new-funding-why-he-shut-down-three-other-e-com?amp=1|title=Lenskart’s Peyush Bansal on new funding, why he shut down three other e-com sites & more|date=8 January 2015|website=VCCircle|access-date=15 January 2023}}</ref>

[[File:Piyush Bansal of Lenskart239.JPG|thumb|Co-founder and CEO of Lenskart, Peyush Bansal]]
In January 2015, the company raised {{INR}}135 crore from [[TPG Growth]], TR Capital and IDG Ventures India.<ref>{{Cite web|url=https://inc42.com/buzz/lenskart-raising-inr-135-cr-tpg-tr-capital-idg-series-c/|title=Updated: Lenskart Is Raising INR 135 Cr. From TPG, TR Capital & IDG In Series C|date=2 January 2015|website=Inc42|language=en|access-date=15 January 2023}}</ref> In 2016, [[International Finance Corporation]], Adveq Management, TPG Growth and IDG Ventures India invested a total of $60 million in Lenskart. The company also saw investments from [[Ratan Tata]] and [[S Gopalakrishnan|Kris Gopalakrishnan]].<ref name=":2">{{Cite web|url=https://www.rediff.com/business/report/how-lenskart-is-defying-the-start-up-trend/20160523.htm|title=How Lenskart is defying the start-up trend|last=Sarkar|first=Ranju|date=23 May 2016|website=[[Rediff]]|language=en|others=Business Standard|access-date=2019-08-31}}</ref>

Lenskart launched the eyewear brand John Jacobs in 2017.<ref>{{Cite web|url=https://www.thehindubusinessline.com/companies/john-jacobs-to-clock-500-cr-revenue-by-march-2021/article25985375.ece|title=John Jacobs to clock ₹500 cr revenue by March 2021|last=PTI|date=13 January 2019|website=The Hindu Business Line|language=en|access-date=2019-08-31}}</ref><ref>{{Cite web|url=https://www.livemint.com/Companies/9SgDbvAPg4TIqX01DdMA6H/Lenskart-invests-4-million-to-expand-John-Jacobs-brand-stor.html|title=Lenskart invests $4 million to expand John Jacobs brand stores|last=PTI|date=4 February 2018|website=Livemint|access-date=2019-08-31}}</ref> In October 2017, Lenskart signed up its first brand ambassador [[Katrina Kaif]].<ref>{{Cite web|url=https://www.moneycontrol.com/news/business/lenskart-ropes-in-katrina-kaif-as-brand-ambassador-2408223.html|title=Lenskart ropes in Katrina Kaif as brand ambassador|date=9 October 2017|website=Moneycontrol|access-date=2019-08-31}}</ref><ref>{{Cite news|url=https://economictimes.indiatimes.com/small-biz/startups/katrina-kaif-is-lenskarts-first-ever-ambassador/articleshow/61015339.cms|title=Katrina Kaif is Lenskart's first-ever ambassador|date=10 October 2017|work=The Economic Times|access-date=2019-08-31}}</ref>

In March 2018, [[Wipro]]’s Chairman [[Azim Premji]] invested ₹4 crore in the group, taking the valuation of the company to ₹3,000 crore.<ref>{{Cite web|url=https://tech.economictimes.indiatimes.com/news/startups/lenskart-valuation-touches-rs-3000-cr-after-a-secondary-transaction/63134057|title=Lenskart valuation touches Rs 3,000 Cr after a secondary transaction - ETtech|last1=Gooptu|first1=Biswarup|last2=Srinivasan|first2=Supraja|date=2 March 2018|website=Economic Times Tech|access-date=2019-08-31}}</ref><ref name=":2" /> In 2018, the company became profitable, [[Earnings before interest, taxes, depreciation, and amortization|EBITDA]] positive.<ref name=":3" /> In March 2019, the company hired [[Bhuvan Bam]] as its first male brand ambassador.<ref>{{Cite web|url=https://brandequity.economictimes.indiatimes.com/news/marketing/lenskart-announces-bhuvan-bam-as-its-new-brand-ambassador/68624930|title=Lenskart announces Bhuvan Bam as its new brand ambassador|date=29 March 2019|website=Economic Times Brand Equity|language=en|access-date=2019-08-31}}</ref> The company reached a valuation of $1 billion in December 2019 after [[SoftBank Group|SoftBank]] invested around $275 million.<ref>{{Cite web|title=SoftBank Vision Fund invests $275M in India's Lenskart|url=https://techcrunch.com/2019/12/20/softbank-lenskart-india/|website=TechCrunch}}</ref><ref>{{Cite web|url=https://www.businesstoday.in/current/corporate/lenskart-eyes-softbank-funding-to-enter-unicorn-club/story/350853.html|title=Lenskart to become the next unicorn! Softbank to invest $350m at $1.3bn valuation|date=27 May 2019|website=Business Today|access-date=2019-08-31}}</ref><ref name=":4" /><ref name=":0">{{Cite web|url=https://tech.economictimes.indiatimes.com/news/startups/lenskart-set-to-turn-unicorn-with-likely-350m-softbank-funding/69511398|title=Lenskart set to turn unicorn with likely $350M SoftBank funding - ETtech|last1=Sharma|first1=Samidha|last2=Gooptu|first2=Biswarup|date=27 May 2019|website=Economic Times ETtech.com|access-date=2019-08-31}}</ref>

In June 2022, Lenskart announced the acquisition of a majority stake in the Japanese eyewear brand Owndays in a cash-and-stock deal which valued Owndays at around {{USD}}400 million.<ref>{{cite web |url= https://techcrunch.com/2022/06/30/lenskart-owndays/|title=Lenskart acquires majority stake in eyewear brand Owndays in $400 million deal|last=Singh|first=Manish|date=30 June 2022|website=TechCrunch|access-date=30 June 2022}}</ref>

== References ==
{{reflist}}

==External links==
*{{url|https://www.lenskart.com/|Official site}}

[[Category:2010 establishments in Delhi]]
[[Category:Eyewear companies of India]]
[[Category:Eyewear brands of India]]

Lenskart - Revision history

Bot at 19:07, 5 March 2023