{{Short description|Indian eyewear retail company}} {{Use dmy dates|date=September 2020}} {{Use Indian English|date=September 2020}} {{Infobox company | name = Lenskart Solutions Limited | logo = Lenskart logo.svg | image = {{CSS image crop |Image = {{Annotated image| image = Lenskart at Ashok Nagar.jpg | annotations =| image-width = 400}} |bSize = 400 |cWidth = 290 |cHeight = 190 |oTop = 95 |oLeft = 30 |Location = center}} | image_caption = Lenskart store in Vijayawada | former_name = Valyoo Technologies Pvt Ltd (2008–2015)<ref name="drhp"/> | type = Public | traded_as = {{ubl|{{NSE|LENSKART}}|{{BSE|544600}}}} | ISIN = {{ISIN|sl=n|pl=y|INE956O01016}} | industry = {{plainlist| *Prescription eyewear *Opticians}} | founded = {{start date and age|2008|5|19|df=yes}}<ref name="drhp"/> | founders = {{plainlist| *Peyush Bansal *Amit Chaudhary *Sumeet Kapahi}} | hq_location = | hq_location_city = Gurgaon, Haryana | hq_location_country = India | num_locations_year = 2022 | area_served = {{plainlist| *India *Southeast Asia *East Asia<ref name="sea"/> *Middle East<ref name="march23"/> *United States}} | key_people = Peyush Bansal {{small|(Chairman, MD & CEO)}} | revenue = {{increase}} {{INRconvert|6652|c|lk=on}} (FY25)<ref name="fy24"/> | operating_income = | net_income = {{positive increase}} {{INRconvert|297|c}} (FY25)<ref name="fy24">{{cite news |title=Lenskart Files Draft Papers With SEBI For INR 2,150 Cr IPO|url=https://inc42.com/buzz/lenskart-files-draft-papers-with-sebi-for-inr-2150-cr-ipo/|access-date=29 July 2025 |work=Inc42 |date=29 July 2025}}</ref> | num_employees = {{Decrease}} 3,236 | num_employees_year = 2025 | website = {{URL|https://www.lenskart.com/|lenskart.com}} | num_locations = 2,000+ retail stores | brands = {{Hlist|John Jacobs|Hustlr|Lenskart Air|Vincent Chase|Lenskart Twyst|Aqualens|Hopper|Lenskart Studio|Lenskart Boost}} | 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 Solutions Limited''' is an Indian multinational eyewear company, based in Gurgaon. As a vertically integrated company, it designs, manufactures, distributes, and retails prescription and regular eyewear.<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> It sells its products through its website, a mobile app, and 2,000+ physical stores.
Lenskart has a manufacturing facility located in Bhiwadi, Rajasthan, with an annual production capacity of 5 crore glasses (50 million units).<ref name="sea">{{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><ref name="march23"/>
== History == In May 2008, Peyush Bansal founded the company as Valyoo Technologies, operating a college classifieds website, SearchMyCampus.com. After Amit Chaudhary joined as a co-founder in 2009, the company started Flyrr.com, an eyewear e-commerce platform in the US.<ref name="idg">{{cite news |last1=J. |first1=Preethi |title=Valyoo Technologies Raises $4M From IDG Ventures India |url=https://www.vccircle.com/valyoo-technologies-raises-4m-idg-ventures-india |access-date=26 October 2025 |work=VCCircle |date=31 October 2011}}</ref> In November 2010, it discontinued both websites and launched Lenskart.com for selling contact lenses in India, expanding to eyeglasses and sunglasses in early 2011.<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 |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 September 2011, Sumeet Kapahi joined as the third co-founder.<ref>{{cite news |last1=Sarkar |first1=Ranju |title=Lenskart: Growing a category by improving access |url=https://www.business-standard.com/article/companies/growing-a-category-by-improving-access-116052200797_1.html |access-date=26 October 2025 |work=Business Standard |date=22 May 2016}}</ref>
The company launched Watchkart.com and Bagskart.com in 2011, and Jewelskart.com in 2012, based on early investor IDG Ventures India's advice to replicate Titan's business model.<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><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 to focus on the eyewear segment.<ref>{{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}}</ref> In 2015, Valyoo Technologies was renamed Lenskart Solutions.<ref name="drhp">{{cite web |title=LENSKART SOLUTIONS LIMITED |url=https://www.axiscapital.co.in/contents/Lenskart%20Solutions%20Limited-DRHP-1753782641.pdf |publisher=Lenskart |access-date=26 October 2025}}</ref>
thumb|Co-founder and CEO of Lenskart, Peyush Bansal
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><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> 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>
In June 2022, Lenskart announced the acquisition of a majority stake in the Japanese eyewear brand {{ill|Owndays|ja|オンデーズ}} 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> After the acquisition, the combined entity had an annual revenue of $650 million, with $250 million coming from Owndays.<ref>{{cite web |last1=Abrar |first1=Peerzada |title=Lenskart sets sights on shipping 400 million specs a year |url=https://www.pressreader.com/india/business-standard/20220827/281582359437630 |publisher=Business Standard |access-date=10 November 2025 |date=27 August 2022}}</ref>
In 2025, Lenskart acquired an 80% stake in Spanish eyewear brand Meller for over €40 million.<ref>{{cite news |title=India's Lenskart acquires 80 percent stake in Spanish brand Meller for over 40 million euros |url=https://fashionunited.com/news/business/indias-lenskart-acquires-80-percent-stake-in-spanish-brand-meller-for-over-40-million-euros/2025080467508 |access-date=26 October 2025 |work=FashionUnited}}</ref> ==Controversies== In 2026, Following the circulation of an internal document online, indicating that Lenskart's employees could wear specific religious attire, including hijabs and turbans, but restrictions were placed on visible Hindu symbols, including bindis, tilaks, and "sacred thread" (kalawa), Lenskart's workplace dress code came under scrutiny and received backlash on social media. Many accused the company of having a religiously biased view of expressions of faith and treating people in an unequal manner based on their religion.<ref>{{Cite news |date=2026-04-18 |title=Black hijab and turban allowed but no bindi, chooda or tilak? Lenskart office policy making netizens furious - Peyush Bansal responds |url=https://timesofindia.indiatimes.com/etimes/trending/black-hijab-and-turban-allowed-but-no-bindi-chooda-or-tilak-alleged-lenskart-office-policy-making-netizens-furious-peyush-bansal-responds/articleshow/130300518.cms# |access-date=2026-04-23 |work=The Times of India |issn=0971-8257}}</ref>
In 2024, Lenskart's franchise owners accused the company of numerous unfair business practices, including opening competing COCO (Company Owned Company Operated) stores near their FOFO (Franchise Owned Franchise Operated) outlets.<ref name="courts" /> 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.<ref name="courts">{{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}}</ref>
Following the circulation of an internal document online in April 2026 indicating that Lenskart's employees could wear specific religious attire, including hijabs and turbans, but restrictions were placed on visible Hindu symbols (hello again), including bindis, tilaks, and "sacred thread" (kalawa), Lenskart's workplace dress code came under scrutiny and received backlash on social media.<ref>{{cite web |title=Lenskart Dress Code Row: Company Issues Clarification |url=https://www.brutimes.com/news/social/lenskart-dress-code-clarification |website=Bru Times News |language=en}}</ref> Many accused the company of having a religiously biased view of expressions of faith and treating people in an unequal manner based on their religion.<ref>{{Cite news |date=2026-04-18 |title=Black hijab and turban allowed but no bindi, chooda or tilak? Lenskart office policy making netizens furious - Peyush Bansal responds |url=https://timesofindia.indiatimes.com/etimes/trending/black-hijab-and-turban-allowed-but-no-bindi-chooda-or-tilak-alleged-lenskart-office-policy-making-netizens-furious-peyush-bansal-responds/articleshow/130300518.cms# |access-date=2026-04-23 |work=The Times of India |issn=0971-8257}}</ref><ref>{{cite web |title=No bindi, tilak, but hijab allowed? Lenskart clarifies after backlash over dress code |url=https://www.indiatoday.in/india/story/lenskart-hijab-tilak-bindi-kalawa-guidelines-row-controversy-eyewear-founder-peyush-bansal-shark-tank-2896971-2026-04-16 |website=India Today |language=en |date=16 April 2026}}</ref>
== Funding == In 2011, IDG Ventures India invested $4 million in the company.<ref name="idg"/> 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 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.<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> In September 2016, Wipro's Chairman Azim Premji invested around ₹200 crore in Lenskart through his family office PremjiInvest.<ref>{{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}}</ref>
Lenskart was valued at over $1 billion in December 2019 after SoftBank Vision Fund invested $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|date=20 December 2019 }}</ref><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> In May 2021, KKR invested $95 million,<ref>{{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}}</ref> 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.<ref>{{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}}</ref> In July 2022, Lenskart was valued at $4.5 billion following a $200 million funding round led by Alpha Wave Global.<ref>{{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}}</ref>
In March 2023, the Abu Dhabi Investment Authority invested $500 million in Lenskart at a valuation of $4.5 billion.<ref name="march23">{{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}}</ref> In June 2023, the company raised $100 million from ChrysCapital.<ref>{{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}}</ref>
In June 2024, Lenskart secured $200 million from Temasek and Fidelity in a secondary deal at $5 billion valuation.<ref>{{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}}</ref><ref>{{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}}</ref>
In October 2025, Lenskart launched its initial public offering aiming to raise up to $828 million.<ref>{{Cite news |last=Suresh |first=Haripriya |date=October 27, 2025 |title=India's Lenskart eyes up to $8 billion IPO valuation, aims to be 'Amazon of eyewear' |url=https://www.reuters.com/world/india/indian-eyeware-retailer-lenskart-sets-price-band-382-402-rupees-ipo-2025-10-26/ |url-status=live |work=Reuters}}</ref>
== References == {{reflist}}
==External links== *{{official website|https://www.lenskart.com/}}
Category:2008 establishments in Delhi Category:Eyewear companies of India Category:Eyewear brands of India Category:Companies based in Gurgaon Category:KKR & Co. companies Category:Companies listed on the National Stock Exchange of India Category:Companies listed on the Bombay Stock Exchange Category:2025 initial public offerings