Lenskart

Peyush Bansal, a former Microsoft employee, founded Lenskart.com in 2010 along with Amit Chaudhary and Sumeet Kapahi.{{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}} In 2011, early investor IDG Ventures India directed the company to also sell wristwatches, bags and jewellery online to replicate Titan Company's business.{{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}}{{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}} In 2011, the company launched Watchkart.com and Bagskart.com, and the following year, it started Jewelskart.com.{{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}} By the end of 2014, only Lenskart.com remained operative as the company shut down its other three websites to focus on the eyewear segment.{{Cite web|url=https://www.vccircle.com/lenskarts-peyush-bansal-new-funding-why-he-shut-down-three-other-e-com|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}}

File:Piyush Bansal of Lenskart239.JPG

Lenskart launched the eyewear brand John Jacobs in 2017.{{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}}{{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}} In October 2017, Lenskart signed up its first brand ambassador Katrina Kaif.{{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}}{{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}} In 2018, the company became profitable, EBITDA positive.{{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}} In March 2019, the company hired Bhuvan Bam as its first male brand ambassador.{{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}}

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.{{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}}

Lenskart has been facing growing dissent from its franchise owners, who accuse the company of numerous unfair business practices, including opening competing COCO stores near their FOFO outlets. {{cite web |url= https://the-ken.com/story/lenskart-built-its-empire-on-franchisees-now-its-battling-them-in-courts/|title=Lenskart built its empire on franchisees. Now it’s battling them in courts|last=Anupam|first=Suprita|date=2 April 2025|website=The Ken|access-date=2 April 2025}}

Some franchise owners from Karnataka filed an FIR in October 2024, alleging financial fraud, including revenue discrepancies and misuse of accounting software. While the Economic Offences Wing began investigation, Lenskart secured a stay order from the Karnataka High Court in January 2025, halting the probe.{{cite web |url= https://the-ken.com/story/lenskart-built-its-empire-on-franchisees-now-its-battling-them-in-courts/|title=Lenskart built its empire on franchisees. Now it’s battling them in courts|last=Anupam|first=Suprita|date=2 April 2025|website=The Ken|access-date=2 April 2025}}

In 2011, IDG Ventures India invested $4 million in the company. In January 2015, the company raised {{INR}}135 crore from TPG Growth, TR Capital and IDG Ventures India.{{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}} In May 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 Kris Gopalakrishnan.{{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}} In September 2016, Wipro's Chairman Azim Premji invested around ₹200 crore in Lenskart through his family office PremjiInvest.{{cite news |last1=Chanchani |first1=Madhav |last2=Gooptu |first2=Biswarup |title=PremjiInvest invests about Rs 200 crore in eyewear portal Lenskart |url=https://economictimes.indiatimes.com/small-biz/startups/premjiinvest-invests-about-rs-200-crore-in-eyewear-portal-lenskart/articleshow/54033437.cms |access-date=27 May 2024 |work=The Economic Times |date=7 September 2016}}

Lenskart was valued at over $1 billion in December 2019 after SoftBank Vision Fund invested $275 million.{{Cite web|title=SoftBank Vision Fund invests $275M in India's Lenskart|url=https://techcrunch.com/2019/12/20/softbank-lenskart-india/|website=TechCrunch|date=20 December 2019 }}{{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}} In May 2021, KKR invested $95 million,{{cite news |last1=Bhalla |first1=Tarush |title=KKR invests $95 million in Lenskart |url=https://www.livemint.com/companies/news/kkr-invests-95-million-in-lenskart-11621239589725.html |access-date=27 May 2024 |work=mint |date=17 May 2021 |language=en}} and in July 2021, Temasek and Falcon Edge Capital (Alpha Wave Global) led a $220 million investment round at a valuation of $2.5 billion.{{cite news |last1=Singh |first1=Manish |title=Lenskart valued at $2.5 billion following $220 million investment from Temasek and Falcon Edge Capital |url=https://techcrunch.com/2021/07/18/lenskart-valued-at-2-5-billion-following-220-million-investment-from-temasek-and-falcon-edge-capital/ |access-date=27 May 2024 |work=TechCrunch |date=19 July 2021}} In July 2022, Lenskart was valued at $4.5 billion following a $200 million funding round led by Alpha Wave Global.{{cite news |last1=Mishra |first1=Digbijay |title=Lenskart valued at $4.5 billion after new financing |url=https://economictimes.indiatimes.com/tech/startups/lenskart-valued-at-4-5-billion-after-new-financing/articleshow/92636537.cms |access-date=27 May 2024 |work=The Economic Times |date=4 July 2022}}

In March 2023, the Abu Dhabi Investment Authority invested $500 million in Lenskart at a valuation of $4.5 billion.{{cite news |last1=Singh |first1=Manish |title=ADIA invests $500 million in Lenskart |url=https://techcrunch.com/2023/03/15/adia-invests-500-million-in-lenskart/ |access-date=12 April 2023 |work=TechCrunch |date=15 March 2023}} In June 2023, the company raised $100 million from ChrysCapital.{{cite news |title=Lenskart raises $100-mn in funding from private equity firm ChrysCapital |url=https://www.thehindubusinessline.com/companies/lenskart-raises-100-mn-in-funding-from-private-equity-firm-chryscapital/article66971633.ece |access-date=17 December 2023 |work=Business Line |date=15 June 2023 |language=en}}

In June 2024, Lenskart secured $200 million from Temasek and Fidelity in a secondary deal at $5 billion valuation.{{cite web |title=Lenskart Secures $200 Million, Poised for Billionaire Dollar IPO |url=https://www.brutimes.com/news/business/lenskart-secures-200-million-poised-for-billionaire-dollar-ipo |website=Bru Times News |language=en}}{{Cite news |date=2024-06-03 |title=Temasek, Fidelity pick up $200 million stake in Lenskart secondary deal at $5 billion valuation |url=https://economictimes.indiatimes.com/tech/funding/temasek-fidelity-pump-200-million-to-buy-lenskart-stake-in-secondary-deal/articleshow/110659516.cms?from=mdr |access-date=2024-09-14 |work=The Economic Times |issn=0013-0389}}

{{reflist}}

• {{official website|https://www.lenskart.com/}}

• {{[https://thefocuslens.com/ The Focus Lens]}}

Category:2010 establishments in Delhi

Category:Eyewear companies of India

Category:Eyewear brands of India

Category:Kohlberg Kravis Roberts companies