Lenskart to end financial year with 200 stores

Eying major offline expansion this financial year, online eyewear retailer Lenskart is hoping to open about 200 physical stores up from 100 at present in more than 60 cities.

The company wants have partnerships with large-format retailers like Spencer's Retail and Star Bazaar and eye-care hospital chains. The brand would do eye checkups and take customer orders and deliver the spectacles at home. It is also in consultations with other big players who operate under the same model and are not into this segment at present.

The Delhi-based company will also invest about Rs 60 crore in order open a 1,00,000 sq. ft unit manufacturing unit in India in the next three to six months. It produces about 5,000 spectacles every day at its plant at Okhla in the national capital. The proposed unit will help Lenskart ramp up production to almost 40,000 pieces a day and this plan is part of a larger plan to take production up to 2,00,000 pieces in the next two years, says Peyush Bansal, Founder and Chief Executive Officer of Lenskart.

Earlier this year, Lenskart raised Rs 135 crore in Series C round of funding. The company was founded in 2010 by Peyush Bansal, Amit Chaudhary and Sumeet Kapahi with a vision to solve the problem of eyewear and be the numero uno eyewear provider in India.