Lenskart Business Mastery: The Powerful Rise, Strategy, and Global Expansion Behind India’s Eyewear Revolution – 2025

Lenskart, India’s leading omnichannel eyewear brand, has disrupted the traditional optics industry with a tech-driven, vertically integrated model. With more than 2,000 stores and a robust online presence, It redefine how customers buy eyeglasses, sunglasses, and contact lenses. This in-depth article explores Lenskart’s business model, financial growth, market position, competitive edge, and international expansion strategy.

---

Business Model

Lenskart’s business model revolves around vertical integration and omnichannel retail. It designs, manufactures, and retails eyewear products both online and through physical stores. Here’s how the business works:

• Revenue Streams:
  • Sale of prescription eyeglasses, sunglasses, contact lenses
  • Membership programs (Lenskart Gold)
  • Eye-care services like in-home eye testing
  • Franchise partnerships and optometrist training programs
• Omnichannel Presence:
  • Over 2,000 stores across India, plus a strong mobile app and website
  • Integration between online and offline experiences
  • Virtual try-on, 3D frame fitting, and AI-based recommendations
• In-House Manufacturing:
  • State-of-the-art factory in Bhiwadi, Rajasthan
  • Production capacity: up to 50 million frames annually
  • Just-in-time inventory model to reduce waste and increase efficiency

It’s unique selling proposition is its ability to offer premium-quality eyewear at affordable prices, enabled by its control over the entire value chain.

---

Leadership Team: Visionaries Behind India’s Eyewear Revolution

Lenskart’s continued success and global expansion are powered by a dynamic leadership team that blends innovation, technology, and customer-centric thinking. The company’s governance framework is led by a strong Board of Directors and an experienced Management Team, both working together to achieve Lenskart’s mission of making eyewear accessible to all.

---

Board of Directors

• Peyush Bansal – Chairman, Managing Director, CEO, Co-Founder & Promoter
  The visionary leader and driving force behind Lenskart, Peyush Bansal has redefined India’s eyewear industry with his focus on technology, innovation, and customer empowerment.
• Neha Bansal – Executive Director, Global Head of Merchandising, Co-Founder & Promoter
  A co-founder and merchandising strategist, Neha Bansal oversees product innovation, design, and consumer trends across global markets.
• Amit Chaudhary – Executive Director, Global Head of Expansion, Co-Founder & Promoter
  Amit leads Lenskart’s domestic and international expansion, ensuring the brand’s consistent growth across geographies.
• Ashish Kashyap – Independent Director
  A seasoned entrepreneur and investor, Ashish provides strategic oversight and governance expertise to guide Lenskart’s long-term business vision.
• Bijou Kurien – Independent Director
  With vast experience in retail and consumer business, Bijou brings insights into scaling operations and enhancing customer experience.
• Jayesh Tulsidas Merchant – Independent Director
  Jayesh contributes financial and compliance expertise to strengthen Lenskart’s corporate governance.
• Sayali Karanjkar – Independent Director
  A technology and fintech leader, Sayali adds depth in innovation and operational excellence.
• Anant Gupta – Nominee Director
  Represents investor interests while contributing strategic advice in technology and business transformation.

---

Management Team

• Peyush Bansal – Chairman, Managing Director, CEO, Co-Founder & Promoter
• Ramneek Khurana – Global Head of Technology
  Oversees Lenskart’s technology infrastructure, digital innovation, and data-driven retail transformation.
• Ashwani Agarwal – Global Head of Operations
  Leads manufacturing, logistics, and supply chain functions to ensure seamless product delivery worldwide.
• Neha Bansal – Executive Director, Global Head of Merchandising, Co-Founder & Promoter
• Abhishek Gupta – Chief Financial Officer
  Responsible for financial strategy, compliance, and investor relations.
• Amit Chaudhary – Executive Director, Global Head of Expansion, Co-Founder & Promoter
• Sumeet Kapahi – Global Head of Sourcing, Co-Founder & Promoter
  Manages supplier relationships, procurement strategy, and global sourcing networks.
• Takeshi Umiyama – Head of Japan & South East Asia
  Drives regional growth and localization across key Asian markets.
• Natraj Choudhary – Head of Engineering
  Leads product engineering, innovation, and platform scalability initiatives.

---

Financial Performance (FY2023–FY2025)

It has demonstrated strong financial momentum, transitioning from losses to profitability:

Fiscal Year	Revenue (INR Crore)	Net Profit/Loss (INR Crore)	Notable Events
FY2023	3,788	-64	ADIA invested $500M, valuation ~$4.5B
FY2024	5,427	-10	Temasek & Fidelity secondary deal, valuation ~$5B
FY2025	6,653	+297	Profitable year, valuation re-rated to ~$6.1B

Lenskart has raised over $1 billion from global investors including SoftBank, Temasek, KKR, ADIA, and Fidelity. The company is eyeing a potential IPO targeting a $10 billion valuation.

---

Market Share and Customer Base

Lenskart leads India’s organized eyewear retail segment with an estimated 25–30% market share. The company’s customer base includes over 10 million users in India and growing international segments. Its key differentiators include:

• Dominance in Tier-2 and Tier-3 cities
• Competitive pricing via private-label frames
• Online-to-offline integration ensuring accessibility and convenience

Internationally, Lenskart now earns over 40% of its revenue outside India, especially from Southeast Asia and the Middle East.

---

Competitive Landscape: India and Beyond

Major Indian Competitors:

• Titan Eye+: Backed by the Tata Group, operates ~860 stores
• Reliance Vision Express: Partnered with GrandVision
• Specsmakers & GKB Opticals: Strong regional players

Lenskart’s edge lies in its tech adoption, rapid store expansion, vertically integrated production, and value pricing.

International Competitors:

• Warby Parker (US): Similar D2C model but limited to 237 stores
• EssilorLuxottica (Global): Market leader in luxury eyewear and lenses

While Warby Parker focuses on style and brand, Lenskart emphasizes affordability and scale. EssilorLuxottica remains a global heavyweight but Lenskart’s lean structure and cost efficiency make it highly competitive in emerging markets.

---

Lenskart Expansion Strategy

Lenskart’s growth trajectory includes aggressive expansion both in India and globally:

• Domestic Rollout:
  • Over 2,000 stores in India (2025)
  • Franchise-based model supports fast growth in smaller towns
• International Presence:
  • 656 stores across Southeast Asia, Japan, Middle East
  • High-performing markets include Singapore, Saudi Arabia, and Thailand
• Key Acquisitions:
  • Owndays (Japan) – 2022: Expansion into 13 countries
  • Stellio (Spain) – 2025: Entry into European retail
  • Le Petit Lunetier (France): Minority stake for boutique expansion
• Technology Investments:
  • Acquired Tango Eye (AI for store analytics)
  • Ongoing R&D in AR/VR try-on, lens tech, and automation

Lenskart’s vision is to become the largest eyewear brand in the world by focusing on technology, affordability, and scalability.

---

Conclusion

Lenskart’s business success story stems from its sharp focus on customer convenience, cost leadership, and tech-enabled retail. With strong financials, a scalable business model, and growing international reach, Lenskart is positioned to become a global leader in the eyewear industry.