lenskart | Pixr8 News

17May By AdityaNo Comments

FUNDING

Lenskart raises $95 million from KKR

NEW DELHI, 17th April 2020-- Lenskart, a leading omni-channel eyewear retailer in India raises $95 million from global investment firm KKR via a secondary stake acquisition. As part of the transaction, existing investors TPG Growth and TR Capital, who first invested in Lenskart in late 2014, will each divest a portion of their holding in the Company. Established in 2010, the Company today is the largest service provider for eyewear in India, serving over 7 million customers annually through its omni-channel shopping experience, which spans online, mobile application, and 730 omni-channel stores in 175 cities across the country. In 2019, Lenskart also expanded to Singapore marking its foray into Southeast Asia where it is now a key service provider for optical. Peyush Bansal, CEO o...

Popular Startups That Secured Funds From Ratan Tata

2Jul By Gauri SinghNo Comments

FUNDING

Popular Startups That Secured Funds From Ratan Tata

Indian industrialist and investor, Ratan Naval Tata who is well known as the former chairman of the popular conglomerate Tata Sons (one of the two holding companies of Tata group). Ratan Tata has done a commendable job in terms of investment activities and has been taking a keen interest in the Indian Startup ecosystem. With the help of his private investment company RNT Associates, Tata has marked his footsteps on various startups in the country. Though most of his investments are undisclosed amounts, it is a big honor for startups that are successful in bringing Ratan Tata on board. Also, you might be thrilled to know that Tata has been honored with the Padma Vibhushan in 2008 and Padma Bhushan in 2000, the second and third highest civilian honors awarded by the Government of India. ...

Lenskart Looking to Invest $3 Million in Eye-Tech Startups

8May By Lavina TolaniNo Comments

News

Lenskart Looking to Invest $3 Million in Eye-Tech Startups

Online eyewear firm Lenskart has earmarked about USD 2-3 million to invest in companies that are either working on product or technologies that can help to provide affordable eye care solutions. As a part of the strategy, firm backed by Ratan Tata, Lenskart has invested about Rs. 3.3 crores in US-based ThinOptics. The intent of investing in early-stage startups is to collaborate in the development of innovative products. Peyush Bansal, Lenskart founder and chief executive said, We will invest USD 2-3 million. The companies where we are looking to invest could be either tech or product based working on eyecare solutions, be it an innovative eye examination machine or some kind of a lens technology. Lenskart had earlier picked up a minority stake for over USD 1million in 6over6, an I...

Lenskart To Launch IPO in 3 yrs, Aims Rs 600 Cr. Biz in 2017-18

9Jul By Press Trust of IndiaNo Comments

News

Lenskart To Launch IPO in 3 yrs, Aims Rs 600 Cr. Biz in 2017-18

Online eyewear firm Lenskart plans to launch its initial public offer within next three years to create value and provide exit option to existing shareholders. "As the company grows, we see IPO will create more value for everybody. We are building values with various investments in technology development in the eyewear segment and from IPO will chart out our growth path. We expect to launch it in next three years," Lenskart Founder and CEO Peyush Bansal told PTI in a statement. Lenskart expects to register 100 per cent revenue growth at around Rs 600 crore by the end of current fiscal. The company has raised around Rs 700 crore from various sources with private equity investment, among which TPG Global was one of the lead investor, till now. He said that the company does not requir...

Lenskart to Open 400 Stores in 2 Years; Invest Rs 100 Crore

4Jun By AdityaNo Comments

News

Lenskart to Open 400 Stores in 2 Years; Invest Rs 100 Crore

Ratan Tata-backed eyeware retailer Lenskart plans to invest over Rs 100 crore on business expansion, including opening of 400 stores, in the next two years. The company, which has a strong online presence, is eyeing a total of 700 stores by March 2019 by targeting small towns, tier II and III cities. "As of now we have 300 stores across India and in the next two years we plan to open another 400 stores," Lenskart CEO Peyush Bansal told Pixr8. The current Lenskart stores in over 80 cities are based on franchise model, he added. When asked about investment for the expansion, Bansal said the company will be putting in capital primarily around building back-end supply chain, while franchises would invest in opening stores. "For us the total investment would run to around Rs 100 ...

Lenskart Setup 100 more Retail Store, Will Spend 10 Crore on Ads

26Dec By AdityaNo Comments

News

Lenskart Setup 100 more Retail Store, Will Spend 10 Crore on Ads

To strengthen its offline presence, online retailer Lenskart will set up 100 retail stores across the country over the next two years. Lenskart currently has 250 outlets across the country. Lenskart, which offers prescription-based and fashion eyewear, currently has seven stores in places like Chandigarh, Pune, Agartala and Goa under the franchise model. With a budget of Rs 10 crore, the eyewear retailer has also lined up a fresh advertising campaign. Peyush Bansal , CEO, Lenskart.com says: “These stores display a large range of eyewear. Customers can choose from them or those available on the website and place orders online from the store, helping us expand our brand not just online but offline as well.” He further said the move will help tap the Indian eyewear market, which get...

6Sep By AnkitaNo Comments

FUNDING

Lenskart Raises Funding From Wipro’s Investment Firm Premji Invest

Three months after its Rs 400-crore funding, Lenskart has raised an undisclosed amount from Premji Invest, the investment office of Wipro chief Azim Premji. The move will help the online eyewear retailer gain from Premji Invests extensive experience across retail brands, Lenskart CEO and Founder Peyush Bansal said. "It will also help us in our road map go public in the next 4-5 years," he added. Bansal said Premji has a lot of experience on the retail front investing in companies like FabIndia that Lenskart is looking to tap into. Previously, the Ratan Tata-backed company has raised about Rs 714 crore from investors like IFC (venture capital arm of the World Bank), TPG Growth, IDG Ventures, Unilazer Ventures and Adveq. "With this collaboration, the company will be ...

IFC Leads Rs. 400 cr Investment in Lenskart

5May By PriyankaNo Comments

FUNDING

IFC Leads Rs. 400 cr Investment in Lenskart

IFC, a member of the World Bank Group, is investing Rs. 171 Crores in Indian eyewear company Lenskart, to help the company expand access to high-quality and affordable eye-care products in tier-3, tier-4 cities. IFC was the lead investor for the Rs. 400 cr Series D investment round which also saw participation from TPG Growth, Adveq Management and IDG Ventures. In addition, Ratan Tata and Kris Gopalakrishnan (co-founder of Infosys) invested in their personal capacity as part of this round. Avendus Capital was the exclusive financial advisor to this transaction. Lenskart is into assembly, manufacturing, wholesale distribution and supply of high quality eyewear products, such as eyeglasses, power sunglasses and contact lenses. Company plans to utilize the funds for strengthening its te...

After GOSF, Now WOSF – Women’s Online Shopping Festival is Here To Pamper You

2May By NitishNo Comments

News

After GOSF, Now WOSF – Women’s Online Shopping Festival is Here To Pamper You

Every woman needs to be treated in a special way and to do so, VelvetCase.com has conceptualised a festival titled Women's Online Shopping Festival (WOSF), wherein various lifestyle and fashion brands will be coming together to provide a shopping paradise to the modern women. Talking about the festival, VelvetCase.com's Founder and CEO, Kapil Hetamsaria said, "I am super-excited to see how an idea born over a dinner conversation a few months ago has snowballed into an event that has the potential of becoming a premier annual property driven by leading brands." Talking about the idea behind WOSF, Neha Kant, Founder of Clovia said, "We see women buyers as significant contributors to the growth of e-commerce and online purchase in India, this made us pop with the idea of WOSF." Meanwhi...

3Dec By AdityaNo Comments

Story

Lenskart Office – A Place of Lens

Lenskart is India's fastest growing eyewear company founded by Peyush Bansal in November 2010. With a unique brick and mortar presence, Lenskart today offers over 10,000 different styles and high quality prescription eyeglasses, sunglasses and contact lens to fit all pocket sizes. Lenskart has grown more than 200% year on year in the last 2 years, to be among the top 3 optical businesses in India today. Lenskart currently has over 100 stores across more than 66 cities in the country with delivery in over 100 cities. (more…)

Ola opens Ola wallet for Oyo Rooms, Lenskart and Saavan

25Aug By No Comments

News

Ola opens Ola wallet for Oyo Rooms, Lenskart and Saavan

Taxi hailing app Ola said its wallet, which was earlier only used for paying for taxi rides can now be used on other platforms including budget hotel rooms aggregator Oyo Rooms, online spectacle retailer Lenskart, and music streaming service Saavan. The company expects to add more players from other retail categories. "We will be leveraging our customer base and provide (ola money) payments solutions for all categories including travel, on demand food and groceries," Rushil Goel, Head, Ola Money, told ET. "Soon we will also be launching offline in store partnerships with brands," he added without specifying the timeline. More than 50% of transactions on Ola are from its wallet. Ola does not hold a licence for a semi closed wallet and has tied up with mobile wallet Zip-Cash ...