Lenskart, India’s leading eyewear retailer, raised USD 275 millon+ from Softbank Vision Fund, including some stake sale from early investors. The investment will be utilized for augmenting Lenskart's tech capabilities and strengthening its supply chain infrastructure.
Avendus Capital was the exclusive financial advisor to Lenskart for this transaction.
Lenskart
Lenskart is engaged in the manufacture and supply of high-quality eyewear products at affordable prices to deliver a superior consumer experience. More than 600 million Indians and 4.2 billion people globally are affected by poor vision and need eyeglasses. However, only 170 million Indians and 1.7 billion people globally have any form of vision correction. Lenskart was formed in 2010 with a vision to solve this problem using technology.
Lenskart has always lived up to its ethos of making eyewear more accessible and affordable. The company manufactures its own frames and lenses by using finest raw materials to ensure highest quality and consistency in its products. They bring them directly to the consumer, eliminating middlemen to make eyewear affordable. Lenskart has also adopted a unique first-of-its kind omni-channel approach, thereby making eyewear seamlessly accessible across desktop, mobile, hypermarkets, high streets, malls, hospitals and even at home.
The company uses Technology & AI in every aspect of its operations, including interacting with consumers either on Apps or in stores, for product, retail footprint, pricing, supply chain, manufacturing and logistics to deliver one of the best customer experiences in the consumer retail industry. Lenskart has been a first at innovating many new technologies in the eyewear and retail space.
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