About Lenskart
Lenskart is one of the most expanding players in the eyewear industry. Through its technological innovation the company established itself as a successful venture in India. It offers trendy eyewear which you can try on its website. It also offers optical stores in various parts of the country. Its multinational eyewear retail chain is based in Delhi, NCR.
Lenskart offers online and offline shopping experiences to its customers. The consumer can avail of discounted offers and home delivery services. ‘Home Eye Check-up’ service is also offered by the company. In the company, robots ensure precise eyeglasses with three decimal points. If offered reading glasses, sunglasses, and contact lenses with 5,000 models. The company, List Company delivers the glasses with free home delivery and replacement guarantees in which within 14 days customer can return their glasses.
The company’s automated factory is available in Bhiwadi, Rajasthan and the annual production of sunglasses is 5 Crore. In 2017, the company launched an eyewear brand name, John Jacobs. Same Year Company signed up with Bollywood famous actress Katrina Kaif as a brand ambassador. This helped the company to gain popularity and the company was showing EBITDA positive in 2018. In 2019, the company introduced its first male brand, Ambassador Bhuvan Bam. The company is serving in India, the Middle East, the United States, East Asia, and Southeast Asia. As of 2020, the company is having employment to 5,000 employees.
What is Lenskart’s Share Price?
The face value of Lenskart for each share is Rs.2 and the stock price is Rs.2, 259/per share. As the IPO will launch then the value of company shares will rise.
What is Lenskart Valuation?
In 2011, IDG Venture India invested in the company amount of $4 million. In 2015, TPG Growth invested Rs. 135 Crore. In 2016, International Finance Corporation, TPG Growth, IDG Venture, and Adveq Management invested $60 million in Lenskart. This company also got investment from Kris Gopalakrishnan and Ratan Tata. In 2018, Azim Premji who is chairman of company Wipro invested Rs. 4 Crore in the company with a valuation of the company Rs. 3,000 Crore. In 2023, the Abu Dhabi Investment Authority invested $500 million with a valuation of $4.5 billion.
What is Lenskart’s Net Worth and Profit?
The net worth of the company is Rs.260 Crore in the financial year 2023 in million dollar US $ 33 million. The profit of the firm is Rs. 3,780 Crore in the financial year 2023 in US$470 million.
Who is the founder of Lenskart?
Peyush Bansal, Amit Chaudhary and Sumeet Kapahi
Peyush Bansal
He is holder of a bachelor’s in Electrical Engineering in IT automation and Control from McGill University. He was appointed as a program Manager at Microsoft after working for 11 months he returned to India and worked on eye vision. When he was in IIM he founded Search My Campus but that did not work well, then he created Flyrr, which was helpful for the American eyewear industry. In 2010, he launched Lenskart which specialized in Eyeglasses and sunglasses.
Amit Chaudhary
He was an alumnus of the Mesra, Birla Institute of Technology. He became a co-founder of Lenskart and also holder of a Bachelor’s degree in Information Technology.
Sumeet Kapahi
He was an alumnus of Delhi University and was recognized as VP of supply in Valyoo Technology Pvt. Ltd. This company is the parent company of Lenskart.
Lenskart’s Mission and Vision
Mission –“Provide every Indian access to high–quality designer glasses without shelling out their pocket”
Vision- “A world where eyewear helps you”
Lenskart Product and Services
Company offers 5,000 glasses and frames that can be chosen from 45 different high–quality lenses. The company can also provide a different range of products like
- Sunglasses
- Premium eyeglasses
- Eyeglasses
- Size options- large, medium, and small
- Shape- oval, rounder, cat eye, and wayfarer
- Brands – Alcon, Johnson & Johnson, Bausch and Lomb
- Colour contact lenses
Some of the Product Companies launched is
WhatsApp Chat
In 2021, a COVID relief fund was launched by the company through which the company helped COVID patients.
Collab with JJ Valaya Ace designer
In 2022, the company partnered with him to launch a brand new bridge that connects customers to a luxury section of eyewear.
Lenskart Future Plans
In 2022, Peyush Bansal announced their ambitious plan to launch an IPO within the next 24 months. Lenskart is expanding itself in Southeast Asia, planning in Thailand and the Philippines to launch itself. This plan is to open 300-400 stores in the region of SEA within the next two years. Dedication to the brand is helpful for the company to extend its brands internationally and provides a wide selection for the eyewear market. Its big industry to stay in the Limelight Company is trying to adopt various marketing strategies through which the company name would be in everyone’s eyes.
