ADIA, Abu Dhabi Investment Authority, is to invest $350-400 million in Lenskart, which can become the largest fundraiser for the eyewear retailer. After the investment completion, ADIA will receive a 10% stake in Lenskart. Last year, Lenskart expand into Singapore, the UA, and the Middle East. Moreover, it acquired a majority stake in Owndays, Japan. This operation will widen the company’s presence in the Southeast Asia markets – Taiwan, Singapore, and Thailand.
Lenskart, Faridabad, India, was founded by Peyush Bansal, Sumeet Kapahi, and Amit Chaudhary in 2010. Lenskart is an optical prescription eyewear retail chain that owns an omnichannel eyewear brand. The company operates as an e-commerce marketplace for prescription power glasses, frames, BLU glasses, and goggles.
Lenskart provides its customers with a choice across more than 5000 models of eyewear. Besides, the company manufactures everything in the eyewear category – from reading glasses and sunglasses to contact lenses. Lenskart operates both online and offline. Lenskart revolutionized the industry with its “Home eye checkup”, using special robots to deliver glasses in Lenskart that are accurate to 3 decimal places. The manufacturing facility in Delhi produces over 300 000 sunglasses per month. More than that, nearly 20% of frames’ production comes from Lenskart’s factory in Zhengzhou, China.