Lenskart raises ₹100 Crore; Plans to start additional 400 stores

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The leading eyewear retailer, Lenskart plans to invest ₹100 Crore for expanding business and to provide services at global level and also planning to open 400 stores, in the coming couple of years. The company also have their eyes on 700 stores in different cities by 2019, so that services and facilities are not limited, people can make use of it anytime, anywhere. Their main motive is to target or to locate small cities and districts which do not have such facilities in their town. Lenskart also have their online stores but the people are not aware about it. So if the come in market, firstly they have to target optical stores and in collaboration they can sell and function and right now, in over 80 cities there are providing their services by giving franchise.

Peyush Bansal, CEO of Lenskart commented that “As of now we have 300 stores across India and in the next two years we plan to open another 400 stores” he also added that they have opened stored in Lucknow and they’ll soon open another one in Bareilly and if they get positive response then they’ll continue doing the same.

Bansal stated that the company will be putting in capital primarily around building back-end supply chain, while franchises would invest in opening stores and they have a clear vision of future and path to follow by which they can attain targets.

Lenskart is receiving a positive response from the cities and people they are connected to and they believe that, the services they are providing are affordable and within the paying capacity of public. Previously, Lenskart has raised over ₹700 crore from investors, including Ratan Tata, IFC and Kris Gopalakrishnan, among others. Last year, in the month of September, the company had raised an undisclosed amount from the Wipro chief Azim Premji.

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