Lenskart inches closer to become the leader of the eyewear industry; to spend Rs 60 crore in setting up a new facility

Indian eyewear etailer, Lenskart will put Rs 60 crore into building a new manufacturing centre. The plans are expected to materialize by the end of this year or by early next year.

The Delhi based company that sells prescription eyeglasses, sunglasses, contact lenses and eyewear accessories had announced their plans to set up additional facility units after receiving Rs.135 Cr funding earlier this year.

Lenskart’s new manufacturing facility

As of now, the niche player manufactures nearly 5000 glasses per day from its Okhla – Delhi centre. With this new 1, 00,000 square feet facility, the company will be able to scale-up to 40,000 – 2, 00,000 spectacles within the next two years

Revealing the plans about this new addition, founder and CEO of Lenskart, Peyush Bansal said, “Right now we have a manufacturing facility in Okhla, but we are looking for a much bigger manufacturing facility and planning to consolidate all of them into one. Currently, we have enough funds to carry out our investment plans and we might look to raise funds sometime next year.”

Lenskart’s journey

In 2008, Peyush Bansal established Valyoo Technologies and under that banner he started many ventures. Besides Lenskart that was founded in 2010, other businesses that Bansal started between 2008 and 2012 were SearchMyCampus, Watchkart, Bagskart and Jewelskart. All except the eyewear portal was closed down eventually. And since then Bansal has been focusing on expanding his niche eyewear business.

So far the company has raised Rs. 200 crore, which was used to spread their online as well as offline presence through inventive strategies. Right from home eye check-up facility, importing high-tech eye checking machines from overseas, opening up 100 franchise stores in 60 cities, robot made lenses, free home trials, and online 3D trial, Lenskart is doing everything to catch every buyer’s eye.