Lenskart news and archive

Neso Brands invests in French eyewear label Le Petit Lunetier

Swedish-led, Singapore-based Neso Brands, part of the Lenskart Group, has acquired a significant stake in Paris-based omnichannel eyewear brand Le Petit Lunetier after investing 4 million US dollars. The investment marks Neso Brand’s first in Europe and marks a major milestone venture as it continues to strengthen its portfolio of international...

People

Neso Brands names Paulo Almeida as CTO

Swedish-led, Singapore-based eyewear house Neso Brands, backed by omnichannel eyewear unicorn Lenskart and its investors, including KKR and Softbank, has appointed Paulo Almeida as its chief technology officer. Almeida, an authority on omnichannel retail, will be responsible for spearheading the overall technical vision and strategy of Neso...

Business

Neso Brands raises over 100 million US dollars and names new CEO

Singapore-based global eyewear company Neso Brands, a subsidiary of Lenskart, has raised more than 100 million US dollars in funding and appointed Bjorn Bergstrom as its chief executive officer. Neso is an initiative of omni-channel eyewear unicorn Lenskart, whose investors include KKR, Softbank, Alpha Wave Global and Temasek, and aims to enable...

Business

Lenskart aims for Rs 3,000 crore valuation with new deal

Lenskart Solutions is undertaking a secondary transaction estimated to value the Faridabad-based company at about Rs 3,000 crore. The deal is the latest example of investors that have, either backed some of India’s most richly-valued startups doubling their positions in the ventures, or joining the investor cap table at a time when there is an...

Business

IPO on the cards for Lenskart and ShopClues

Ronnie Screwvala, who holds stakes in Lenskart and ShopClues, says in next two years both the e-commerce firms Lenskart and ShopClues may go for Initial Public Offering (IPO). Meanwhile, Lenskart, an eyewear products seller, which is expected to clock Rs 600 crore revenues this year may get into operational profits from this month onwards....

Retail

Lenskart plans smaller stores for Tier-II, III cities

The online eyeware major that has stepped into brick and mortar space with Lenskart stores, is now looking to open Lenskart Lite, a store concept for smaller cities. The omni channel eyewear major will open Lenskart Lite which are smaller sized stores with simpler design. Meanwhile Lenskart plans to add 200 more stores in both metros and...

Retail

Lenskart launches new app to woo customers

Ratan Tata-backed eyeware firm Lenskart is eyeing aggressive expansion in Tier I and II cities and setting up 20 brick-and-mortar stores per month in order to strengthen itself in such markets. The eye ware firm, which gets a significant portion of its revenues from offline channels, also aims to ramp up sales from tier III and IV towns with the...

People

Lenskart rejigs top management, plans aggressive growth

With an eye on the number one position, online retailer Lenskart has made some changes in its top management team. There have been some senior level appointments – five so far - to scale up business. These appointments have helped the company expand its offline presence, ramp up its manufacturing facility, hire fresh talent and create seamless...

Retail

E-tailers ramp up offline presence to take on brick-and-mortar stores

Many e-tailers are gaining significantly by setting up brick-and-mortar stores and giving the offline ones a run for their money. These stores are seeing significant contributions to revenue and bottomline from their physical store. Stores like FirstCry, Lenskart and Pepperfry are some of these which have gained from their offline avatars....

Business

Lenskart makes access easy, grows by leaps and bounds

Delhi-based start-up Lenskart is defying the trend of lower valuations. Recently it saw its valuation triple to Rs 1,700 crores when it raised Rs 400 crores in a new round of funding led by International Finance Corporation (IFC). The likes of Ratan Tata, Chairman Emeritus of Tata Sons and S Gopalkrishnan, Co-founder of Infosys, also invested in...

Business

Lenskart raises an undisclosed amount funding from Ratan Tata

Online eyewear retailer, Lenskart, has raised an undisclosed amount of funding from Ratan Tata. It is believed to be part of the retailer’s latest fundraising initiative through which it is looking at raising about Rs 400 crores. One of the major investors of this round will be International Finance Corporation (IFC). Ratan Tata’s contribution...

Retail

E-tailers experiment with virtual fits

A growing number of apparel e-tailers are opting for virtual fitting rooms on their platforms. Online boutique marketplace Violet-Street has introduced a made-to-measure feature that allows users to enter their metrics into a grey 3D model. While it doesn’t allow users to try on the clothes as of now, the platform’s in-house team hopes to enable...