According to media reports, Fidelity, a US-based financial services major, has marked up the valuation of Lenskart to $5.6 billion, reflecting a 12 per cent increase in the eyewear retailer’s fair value on its books as of September 30.
According to media reports, Lenskart achieved an annual revenue run rate of USD 1 billion for the current fiscal year, highlighting its strong market position. Earlier this year, in a secondary transaction, the company reportedly raised $200 million from Singapore's state-owned investment firm Temasek and Fidelity, valuing Lenskart at approximately $5 billion. These secondary sales are seen as a strategy to provide liquidity to early investors.
The Delhi-based company has, according to media reports, invested heavily in expanding its physical and digital presence, operating over 2,500 stores, including 2,000 across India. Its unique click-and-mortar model combines online shopping with a physical store network, setting it apart in a highly competitive market. Lenskart faces competition from brands such as Titan Eyeplus, Specsmakers, Vision Express, and global giants like Warby Parker and Luxottica.
In recent years, Lenskart has accelerated its growth through acquisitions, according to media reports. Last year, it acquired Tango Eye, a computer vision startup, and invested in the Paris-based brand Le Petit Lunetier through its subsidiary Neso Brands. In 2022, Lenskart also acquired Japanese direct-to-consumer brand Owndays in a deal valued at $400 million, aiming to broaden its footprint across Asia and the Middle East.
