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<ul><li>Eyewear unicorn <keyword id="1518229" type="General" weightage="100" keywordseo="lenskart" source="Orion">Lenskart</keyword> has signed a definitive agreement with <keyword id="126284" type="General" weightage="80" keywordseo="abu-dhabi-investment-authority" source="Orion">Abu Dhabi Investment Authority</keyword> (ADIA).</li><li>Abu Dhabi Investment Authority invests $500 mn.</li></ul><keyword id="2552077" type="General" weightage="50" keywordseo="omnichannel" source="Orion">Omnichannel</keyword> eyewear unicorn Lenskart has signed a definitive agreement with Abu Dhabi Investment Authority (ADIA) to raise $500 million from the authority. The investment is an extension to last year's funding round, helping Lenskart maintain its $4.5 billion valuation. The company said that the capital will be deployed to deepen its presence in Asia and the Middle East. ADIA's investment includes some secondary purchase of shares from some early backers of Lenskart. The eyewear company has so far raised $1.5 billion in primary and secondary rounds, according to reports. Founded in 2010, Lenskart ships over 10 million pairs of eyewear every year and has over 20 million app downloads, 300 home eye test representatives as well as over 1,100 stores across India, Singapore, and Dubai, the company said last year. Lenskart is backed by <keyword id="4675626" type="General" weightage="50" keywordseo="falcon-edge-capital" source="Orion">Falcon Edge Capital</keyword>, <keyword id="163404" type="General" weightage="50" keywordseo="softbank" source="Orion">SoftBank</keyword>, KKR, Temasek, Premji Invest and Kedaara Capital, among others. In June last year, the eyewear unicorn took a majority stake in Japanese eyewear brand Owndays in a deal that was reportedly around $400 million. This took the merged firm to reach 13 markets in Asia including India, Singapore, Thailand, Taiwan, Philippines, Indonesia, Malaysia and Japan. The company said it will continue its rapid expansion in India and South East Asia to serve the mass to mid-premium segments. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/innovative-ai-powered-applications-and-websites-that-are-revolutionizing-the-way-we-live-and-work/articleshow/98607475.cms">Innovative AI-powered applications and websites that are revolutionizing the way we live and work</a> <a href="https://www.businessinsider.in/tech/news/apples-airpods-to-offer-health-tracking-features-in-future-releases/articleshow/98624577.cms">Apple's AirPods to offer health tracking features in future releases</a>

Abu Dhabi Investment Authority invests $500 mn in eyewear unicorn Lenskart

Lenskart to launch 500 stores in 2020 and increase its focus on AI and digital marketing

<ul><li>Additionally, it will hire 300 employees to expand its operations in Singapore, Middle East and USA.</li><li>About 1,500 of the new appointees will be retail employees to manage <keyword id="1518229" type="PERSON" weightage="20" keywordseo="Lenskart">Lenskart</keyword>’s increasing offline stores network.</li><li>Lenskart’s workforce currently includes over 200 engineers, data scientists and product designers.</li></ul>Direct-to-consumer (D2C) eyewear brand Lenskart will be <keyword id="6357342" type="UNKNOWN" weightage="20" keywordseo="Hiring">hiring</keyword> 2,000 employees by next year to increase its customer base over the next few years. Besides this, it will also be hiring another 300 employees to expand its operations in international markets like Singapore, Middle East and the United States of America (USA). The firm is hiring across tech and non-tech verticals, but retail employees would make the largest chunk of it. The company recently hired over 100 employees for its Hyderabad hub. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hiring </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Verticals </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1500 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">More retail employees to manage Lenskart’s increasing offline stores </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">100+ </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Engineers for technology teams across Bengaluru, Delhi-NCR and Hyderabad </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">300 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Supply chain and manufacturing operations </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">100 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Corporate functions across finance, consumer insights, human resources, merchandising </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">300 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">To expand internationally in Singapore, Middle East and the USA </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Lenskart’s workforce currently includes over 200 engineers, data scientists and product designers. “We have continued to grow exponentially, in international markets as well as in India, and we are building a strong presence in regional markets as well through our stores and e-commerce. This has opened up several job opportunities across Lenskart to serve and delight our customers at a huge scale. So, hiring is a key aspect in our growth journey and we are looking at actively hiring skilled talent across verticals for regions like Hyderabad, Bengaluru, Mumbai, and Delhi among others,” Lenskart’s chief executive officer (CEO) and founder <keyword id="824423" type="PERSON" weightage="20" keywordseo="Peyush-Bansal">Peyush Bansal</keyword> said in a statement. Founded in 2010 by Bansal, Amit Chaudhary and Sumeet Kapahi, Lenskart is one of the largest omnichannel retailers and manufacturers of eyewear in India. The company says that it serves over 400,000 customers on a monthly basis and claims to account for nearly 30% of India’s organised eyewear market. SEE ALSO <a href="https://www.businessinsider.in/business/ecommerce/news/swiggy-reports-nearly-three-fold-increase-in-annual-revenue-in-neck-and-neck-race-with-zomato/articleshow/85233393.cms" data-type="tilCustomLink">Swiggy reports nearly three-fold increase in annual revenue, in neck and neck race with Zomato</a> <a href="https://www.businessinsider.in/investment/news/these-are-the-top-ten-most-popular-cryptocurrencies-in-the-world/slidelist/85174407.cms" data-type="tilCustomLink">Top 10 cryptocurrencies in the world — the story behind Bitcoin and other altcoins</a>

Lenskart aims to hire over 2000 employees to ramp up its operations

<ul><li>Lenskart had much to cheer in 2019. It grew at 50% year-on-year, launched its 500th store and its total operating revenue grew by 24% in 2019 to Rs 474.31 crore. </li><li>Amit Chaudhary, Co-founder, Lenskart.com tells us how it plans to grow further in the country by increasing its retail presence, investing more in advertising, and lastly, experimenting with newer technologies.</li></ul>
 <div type="Video" msid="74641251" hostid="261" title="Lenskart to launch 500 stores in 2020 and increase its focus on AI and digital marketing" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=74641251"></div>



 It was after Peyush Bansal, the founder of Lenskart found a huge gap in the eyewear segment that he decided to start his own company in India. He realised that a third of India’s total population needs to wear spectacles and only 25% of them actually wear it; quality and affordability were the two critical barriers here. Amit Chaudhary and Sumeet Kapahi later joined Bansal and decided to change the perception of glasses from being ‘nerdy’ to a ‘cool-status’ symbol for millennials. Therefore, Lenskart started as a pure e-commerce company, with a promise of being ‘fashionable’ and to break through the existing clutter, it offered the lazy millennials an option of 3D try-on. To establish its unique proposition further, Lenskart recently on-boarded social media influencer Bhuvan Bam, and tried to destigmatise wearing spectacles. Lenskart’s mantra seems to have worked as it had much to cheer in 2019. It saw an almost 50% year-on-year growth, launched 500 stores in over 70 cities and ended the year on a perfect note by raising $275 million in a financing round from SoftBank Vision Fund. According to Ministry of Corporate Affairs (MCA), its total operating revenue grew by 24% in 2019 to Rs 474.31 crore. However, the Indian eyewear industry is a potential $10 billion market, which is growing more than 30% on a Y-o-Y basis, so there is a lot more ground that Lenskart is aiming to cover this year. Amit Chaudhary, Co-founder, Lenskart.com told us that it plans to grow in the country by increasing its retail presence, investing more in advertising, and lastly, experimenting with newer technologies. Expansion Plan After its latest investment round, Lenskart is planning to launch 500 stores by the end of this fiscal and another 5,000 stores over the next five years. “This year we want to open 500 stores across the country but we now want to focus on few cities first and capture them. While we continue to do what we are doing in the Tier III and Tier IV markets at the same pace, we will increase our pace in the top metros,” says Chaudhary. Growing on digital Lenskart took the bet to launch as an online-only platform and has grown exponentially. It would continue to invest 80% of its budget on digital media and being erstwhile computer engineers, Chaudhary says it comes naturally to them. Telling us why its budget is skewed towards digital, Chaudhary said, “If I want to reach somebody today, there is no better way to do that than through digital. Digital, as a medium, gives you a one-to-one access to the consumer, unlike a big board outside somewhere where you don't even know who is seeing it. So to bring focus to whom you want to show your product and get the access to them -- I think digital plays a very important role and you can measure that. So I think that is one of the reasons we will keep on continuing, embracing this way (virtual and digital way) of marketing and communication to consumers.” However, Lenskart also uses other platforms like TV and Outdoor just to encourage its audience to embrace digital mediums. Chaudhary explains, “We have only done digital marketing. We also do TV but it's not part of the significant budget. The idea of using TV is also to embrace digital. So all our TV ads also show that you should go digital and use our 3D try-on. We are also improving the technologies there to make those trials be as fast and accessible as possible. When you look at things like Facebook, Instagram and Snapchat filters, we are hoping to create a very real-time thing there. When you see how the glasses are looking on you in the social filters, you should be able to make a transaction right away.” When asked if Lenskart is planning to increase its marketing budget this year, Chaudhary said, “Yes. We also have some product brands, Aqua Lens and John Jacobs. So we'll try to grow those parallely and some of the extra money will go there.” A peek in Lenskart’s future Chaudhary says Lenskart’s prime objective in 2020 is to make eyewear more and more accessible. He indicated that Lenskart is working on a new technology mode that will help to do 1,00,000 eye check ups on a daily-basis. Sharing what else is on its agenda, Chaudhary added, “Lenskart of the future would be a global company where we serve consumers keeping India's manufacturing in focus -- make sure that India generates a lot of employment. Lenskart already helps generate a lot of employment in the country, both in terms of manufacturing and retail. We are a full stack business -- manufacturing to retailers, we will continue to embrace this and make it as big as possible.”

Lenskart to launch 500 stores in 2020 and increase its focus on AI and digital marketing, says Co-founder, Amit Chaudhary

Eyewear retailer <keyword id="1518229" type="PERSON" weightage="20" keywordseo="Lenskart">Lenskart</keyword> on Monday announced it has raised $220 million in fresh funding led by Temasek and <keyword id="4675626" type="PERSON" weightage="20" keywordseo="Falcon-Edge-Capital">Falcon Edge Capital</keyword>, taking its valuation to nearly $2.5 billion. The company recently raised $95 million from <keyword id="2527060" type="PERSON" weightage="20" keywordseo="Global-Investment-Fund">global investment fund</keyword> <keyword id="6354544" type="UNKNOWN" weightage="20" keywordseo="kkr">KKR</keyword>, taking the total transaction size to $315 million to date. The current round also saw participation from Bay Capital and <keyword id="6947922" type="UNKNOWN" weightage="20" keywordseo="chiratae">Chiratae</keyword>, the company said in a statement. "We're already the largest eyewear player in India and in the top 3 in Singapore. Lenskart envisions to have 50 per cent of India wearing its specs over the next five years and become the #1 eyewear platform in Southeast Asia and Middle East over the next 18 to 24 months through organic and inorganic expansion," Founder and CEO Peyush Bansal said. The company said that fresh funds will help it expand its presence in India as well as scaling its growing operations in Southeast Asia and Middle East. "Lenskart has built a world-class fully backward-integrated omnichannel eyewear retail experience with extreme customer centricity," Falcon Edge Capital co-Founder and <keyword id="11674262" type="UNKNOWN" weightage="20" keywordseo="partner-navroz-udwadia">Partner Navroz Udwadia</keyword> said. The market opportunity for Lenskart in target geographies is expected to be over $15 billion by 2025. Along with the expansion, Lenskart is also planning to use the capital to deepen its investments in technology and AI-driven innovations to create a personalised experience for its customers. Founded in 2010, Lenskart is currently serving over seven million customers annually through its <keyword id="2535292" type="PERSON" weightage="20" keywordseo="Omni-channel">omni-channel</keyword> shopping experience with more than 750 omni-channel stores in 175 cities. In 2019, Lenskart expanded to Singapore -- marking its foray into Southeast Asia -- where it is now a key service provider for opticals. In May, Lenskart and KKR, a global investment firm, announced the signing of definitive agreements under which KKR invested $95 million in Lenskart via a secondary stake acquisition. SEE ALSO - <a href="https://www.businessinsider.in/tech/mobile/news/apple-could-finally-bring-the-always-on-display-feature-on-the-iphone-13/articleshow/84542970.cms">Apple could finally bring the always-on display feature on the iPhone 13</a> <a href="https://www.businessinsider.in/stock-market/news/g-r-infraprojects-ipo-makes-a-strong-listing-on-exchanges-with-over-100-premium-shares-open-at-1700/articleshow/84542747.cms">G R Infraprojects IPO makes a strong listing on exchanges with over 100% premium, shares open at ₹1700</a>

Lenskart raises $220 million to launch in Middle East, Southeast Asia

<keyword id="1518229" type="PERSON" weightage="20" keywordseo="Lenskart">Lenskart</keyword> on Monday said global investment firm <keyword id="6354544" type="COMPANY" weightage="20" keywordseo="kkr">KKR</keyword> will invest <keyword id="54123" type="COMPANY" weightage="20" keywordseo="USD">USD</keyword> 95 million (about Rs 695.8 crore) in the omni-channel eyewear retailer via a secondary stake acquisition. As part of the transaction, existing <keyword id="6359051" type="UNKNOWN" weightage="20" keywordseo="investors">investors</keyword> - TPG Growth and TR Capital - will each divest a portion of their holding in Lenskart, a statement said. These entities had invested in Lenskart in late 2014. Upon the completion of the transaction, KKR will look to leverage its experience working with leading technology and eyewear companies globally to support Lenskart in expanding its presence in India, scaling its growing operations overseas, and enhancing its digital offerings to augment customers' virtual and omni-store experience, the statement said. According to reports, KKR's investment is part of a larger USD 300-million round. However, the companies did not comment on the report and if other investors have participated in the round. KKR said it is making its investment from its Asian private equity fund. Some of the recent technology-focused investments for KKR in Asia include Adopt A Cow (a digitalised, direct-to-consumer dairy company in China), NetStars (the operator of Japan's largest QR code payment gateway), and Walnut Programming (a children's programming education company in China). In 2019, Lenskart had announced raising over USD 275 million (nearly ₹1,956 crore) from Softbank Vision Fund. In the past, it has received funding from investors' like Ratan Tata, PremjiInvest, <keyword id="85860" type="COMPANY" weightage="20" keywordseo="IFC">IFC</keyword> (venture capital arm of the <keyword id="6354424" type="COMPANY" weightage="20" keywordseo="world-bank">World Bank</keyword>), TPG Growth, IDG Ventures, Unilazer Ventures and Adveq. Established in 2010, Lenskart currently serves over 7 million customers annually through its omni-channel presence that spans online, mobile application, and 730 stores in 175 cities across the country. In 2019, Lenskart had also expanded to Singapore, marking its foray into Southeast Asia. Lenskart integrates technology into all aspects of its operations, to the browsing, shopping and purchasing experience, in addition to manufacturing and supply-chain optimisation. Among Lenskart's digital offerings is a virtual 3D try-on tool; AI-powered facial mapping and frame recommendation features; smart physical stores with seamless omni-channel experience; and footfall tracking beacons, heat maps and demographic analytics; and intelligent supply-chain and inventory-management solutions. More than 600 million people in India and 4.5 billion people globally need vision correction, but only a fraction of them use it due to a lack of access, awareness, and high-quality, affordable solutions, Lenskart CEO Peyush Bansal said. Lenskart was founded to address this gap by leveraging technology to make eyewear accessible to everyone - first in India, and now worldwide, he added. "In the next five years, we aspire to have 50 per cent of India wearing our specs... We are thrilled to welcome KKR as an investor given their significant experience working with leading global eyewear retailers such as National Vision and 1-800 Contacts as well as technology-focused businesses globally," he said. KKR Partner Gaurav Trehan said as a technology-driven business, Lenskart is a strong, homegrown disruptor in India's rapidly expanding eyewear industry. "We are truly excited to work with Peyush and Lenskart's impressive management team to support Lenskart's growth and innovation in India and internationally, in addition to advancing its mission to provide affordable, accessible eyewear products for everyone," he added. Avendus Capital advised Lenskart on the transaction. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/battlegrounds-mobile-india-pre-registrations-to-begin-on-may-18/articleshow/82702403.cms">PUBG Mobile: Battlegrounds Mobile India pre-registrations to begin on May 18 – rewards, maps and more</a> <a href="https://www.businessinsider.in/business/startups/news/ratan-tata-backed-moglix-is-the-13th-unicorn-from-india-this-year/articleshow/82702143.cms">Ratan Tata-backed Moglix is the 13th unicorn from India this year</a> <a href="https://www.businessinsider.in/cryptocurrency/news/elon-musk-hints-that-tesla-may-dump-its-billion-dollar-bitcoin-investment/articleshow/82699553.cms">Elon Musk hints that Tesla may dump its billion dollar Bitcoin investment — here’s why his tweets have so much power</a>

Lenskart gets funding of $95 million from global investment firm KKR

In an effort to widen its e-tailing portfolio, World Bank’s International Finance Corporation (IFC) is mulling to invest at least Rs 170 crore, or $25 million in <keyword id="1518229" type="PERSON" weightage="20" keywordseo="Lenskart">Lenskart</keyword> Solutions. 
 
After investing in BigBasket, IFC is looking to buy minority stake in the online eyewear retailer. 
 
Lenskart raised Rs 60 crore from existing investor, TPG Growth, last year in November taking the valuation of the company to Rs 1,000 crore from Rs 634 crore in December 2014. 
 
Lenskart presently has 90 franchisees in over 50 cities. 
 
(Image: Indiatimes)

After BigBasket, World Bank’s IFC is going to pump in Rs 170 crore in Lenskart

<ul><li><keyword id="1445940" type="General" weightage="20" keywordseo="smaaash" source="Orion">Smaaash</keyword> announced its “pre-mature” closure in September 2020 as the country was facing the worst of COVID-19 throughout the year.</li><li>The company — which was in over 45 centres across India in its first innings — is now settled with 22 centres across 14 cities.</li><li>It has stepped away from its traditional ‘for kids’ offering to reimagine itself as a business that caters to the needs of young adults and working professionals.</li></ul>After briefly shutting down its business nearly 18 months ago, popular Indian gaming and entertainment centre operator Smaaash has spent the last one year rebuilding itself. The Sachin Tendulkar-backed company — which now refers to its business model as Smaaash 2.0 — has stepped away from its traditional ‘for kids’ offering to reimagine itself as a business that caters to the needs of young adults and working professionals. The aim of the space is to give an entertainment center for adults, but with the same vibe as the local club. Dim lights and upbeat music, finger foods and alcohol, arcade games to bowling alleys is all one can expect from Smaaash 2.0. <div type="image" title="How Sachin Tendulkar-backed Smaaash is making a comeback with 45 stores by June 2022" msid="90796106" hostid="261" caption="&amp;lt;p&amp;gt;Bowling Alley&amp;lt;/p&amp;gt;"></div> The company — which was in over 45 centres across India in its first innings — has now opened 22 centres across 14 cities for the second one. It claims to have an EBIDTA (earnings before interest, taxes, depreciation, and amortisation) run rate of ₹4 crores at the store level, which is 20% higher than before. So what has changed since the last time? Smaaash — which has raised close to ₹700 crore from <keyword id="6354267" type="General" weightage="20" keywordseo="sachin-tendulkar" source="Orion">Sachin Tendulkar</keyword> and Sixth Sense Ventures — announced its closure in September 2020 as the country was facing the worst of COVID-19 throughout the year. The company did not have the runway to continue and there wasn’t enough footfall in the physical store. The company’s founder Shripal Morakhia, in an email to its employees, said he was sorry that despite his best efforts he has failed in his efforts to save the company from its “premature death”. However, Smaaash restarted its operations once again in Raipur and Vijayawada and built on top of that. The company had lost several prime locations it was previously operating in, so it decided to build on its latest network in alternative locations with larger and more open spaces. Shirish Kotmire, the chief executive officer (CEO) of Smaaash, believes that this offers them the opportunity to work in bigger and more open locations, at less the cost. Secondly, the company has also spent the last one year in reading customer behaviour and effectively enhancing the value per customer. The company has expanded virtual reality (VR) offerings by introducing new games and upgrading traditional games to VR as well. Besides, it has also introduced physical games like shooting. This, coupled with dining and beverages options, increases the time spent by the customers in Smaaash stores and the average cost per customer goes up too. The company had dine-in option earlier as well, but it now emphasises reading into customer behaviour and needs. “We are ensuring that we give an entire experience, where they [customers] graduate from playing just games to consuming food and liquor, to consuming time there. When you give them a gaming environment, combined with a food and gaming experience, and the pocket friendly nature, the time of the entire experience increases … We are really good at upselling now. Because it’s a gaming concept no one comes to have food-food,” Kotmire noted. How has Smaaash been strengthening itself? Smaaash started its rebuilding efforts in metropolitan cities like Mumbai and Delhi, and then the letter grew in a conservative manner by focusing on cities that were less likely to face stricter COVID-19 norms. In the second phase it expanded to Raipur, Gwalior, Vijayawada, and Bhubaneswar. The company is now looking to expand with 23 more stores by mid-2022, where the deals are already signed and project-related work has begun. These stores would be located in existing markets like Noida and Gurugram as they would be able to absorb the supply of customers, and also venture into newer markets like Barnala, Amritsar, Pathankot, Udaipur, Jodhpur and Bengaluru. <div type="image" title="How Sachin Tendulkar-backed Smaaash is making a comeback with 45 stores by June 2022" msid="90795995" hostid="261" caption="&amp;lt;p&amp;gt;Customers at Smaaash&amp;lt;/p&amp;gt;"></div> While the company claims that they will be carrying out this expansion using the revenue they have generated so far, they are also starting their hunt for funds in the next three months. Kotmire explained that they are at a point when they are just getting re-noticed by the investors, but they need to reach a critical size with a three or four-digit revenue figure. “What is funding for? The funding is for scale. We are just doubling stores now, we are going back to our earlier level of 40-45 stores. They are saying what’s new [to fund],” Kotmire said, explaining that convincing an investor to fund an offline business takes a little more time in the current scenario. He emphaises that the confidence of its existing investors is also coming back due to its performance in the last couple of months. “In the same sequence that it closed down, in the same sequence it’s taking off in a big way,” Shirish Kotmire, the chief executive officer (CEO) of Smaaash, said. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/peyush-bansals-lenskart-may-now-be-valued-at-over-4-billion/articleshow/90794848.cms" data-type="tilCustomLink">Peyush Bansal’s Lenskart may now be valued at over $4 billion</a> <a class="tout-title-link" href="https://www.businessinsider.in/business/startups/news/facebook-backed-meesho-lays-off-150-employees-in-india/articleshow/90791826.cms">Facebook-backed Meesho lays off 150 employees in restructuring of grocery business</a> <a href="https://www.businessinsider.in/stock-market/news/tcs-wipro-maruti-suzuki-jsw-steel-among-hot-stocks-to-watch-out-for-on-april-12/slidelist/90790324.cms">TCS, Wipro, Maruti Suzuki, JSW Steel among hot stocks to watch out for on April 12</a>

How Sachin Tendulkar-backed Smaaash is making a comeback with 45 stores by June 2022

<ul><li>PE firm <keyword id="6460966" type="UNKNOWN" weightage="20" keywordseo="kedaara-capital">Kedaara Capital</keyword> is in talks to invest in Lenskart, say reports, at a valuation of $1 billion.</li><li>Softbank too was in talks to fund the company.</li><li>Lenskart has over 500 stores in India.</li></ul>Eyewear retailer Lenskart is all set to turn into a unicorn, nine years after it was founded. Homegrown PE firm <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/kedaara-eyes-lenskart-stake-at-1b-valuation/articleshow/70941194.cms">Kedaara</a> Capital is in talks to invest in Lenskart, says an ET report. The latest funding would take Lenskart’s valuation up to $1 billion. The report also says that Kedaara’s <keyword id="6355120" type="UNKNOWN" weightage="20" keywordseo="investment">investment</keyword> could be a secondary deal as Premji Invest (Azim Premji’s investment arm) and Chiratae Ventures will sell a part of their shares. Earlier too, there were also <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/softbank-may-lead-funding-in-lenskart-back-dailyhunt/articleshow/70836332.cms">reports</a> of Japanese investment firm Softbank showing interest in the eyewear retailer and invest as much as $400 million. Scripting a turnaround story Lenskart is often the centre of many memes for its multiple offers messages it sends to customers, with offers and discounts. In May, it opened its 500th store in the country. However, it hasn’t had a smooth ride. Lenskart had rapidly expanded with multiple stores. However, these huge investments didn’t pay off, leaving it with mounting losses. In 2015-16, Lenskart’s losses were at ₹113 crore. The very next year, they doubled to be ₹262.87 crore. After this, the company took an active step to turn things around. Lenskart turned its focus to Tier 2 and 3 cities. As a result, its revenues jumped by 70% to ₹118.04 crore in 2018, while cutting its losses by 55% losses. It’s own brand – John Jacobs – which seems to have done well for the company will touch ₹500 crore in revenue by 2021, say <a href="https://www.thehindubusinessline.com/companies/john-jacobs-to-clock-500-cr-revenue-by-march-2021/article25985375.ece">reports.</a> In February 2019, Lenskart announced YouTuber Bhuvan Bam as its brand ambassador along with Bollywood actor Katrina Kaif.

9 years later, Lenskart set to be a unicorn having fought off losses and welcomed investors

Myntra is planning to open offline stores across the country in 2015 to promote its private labels, even as discussions on the fashion portal's merger with <keyword id="6354742" type="COMPANY" weightage="80" keywordseo="Flipkart">Flipkart</keyword> are on. 
 
Myntra is expected to continue as a separate fashion brand even after it merges with Flipkart. This is why it has stepped up efforts to promote its flagship private label casual wear — Roadster. 
 
"We are looking to go offline for pure brand-building, not to increase sales," chief operating officer Ganesh Subramanian said. "We will start by opening one Roadster shop each in Mumbai, Delhi and Bangalore and later venture into other towns and cities." Myntra had roped in Bollywood star Ranveer Singh to endorse Roadster. It is also likely to launch two or three more celebrity brand labels this year. 
 
Myntra, however, did not comment on investment in these offline stores. "It is too early to make an estimate," said Subramanian. Apart from Myntra, online retailer <keyword id="2229091" type="UNKNOWN" weightage="80" keywordseo="DonebyNone">DoneByNone</keyword> is also looking to earn revenue of Rs 500 crore in the next five years with nearly half of its sales coming from offline stores. "In the next six months, we plan to open our first few high street stores in Delhi. We will then expand to Mumbai and Bangalore," said Amarinder Dhaliwal, CEO of DoneByNone. "Offline stores have a greater customer reach. They add to the strength of the brand, awareness of the brand and also help it scale up." 
 Many e-commerce brands, including baby care retailer <keyword id="1615917" type="COMPANY" weightage="80" keywordseo="FirstCry">Firstcry</keyword>, nutrition and fitness products retailer <keyword id="922093" type="COMPANY" weightage="80" keywordseo="Healthkart">Healthkart</keyword> and eyewear retailer <keyword id="1518229" type="PERSON" weightage="80" keywordseo="Lenskart">Lenskart</keyword> are already boosting their offline presence to expand their reach. 
 
"We will penetrate a few more categories like kids' private brands and formal wear brands in the second half of the year," said Subramanian. It expects to give profit by year end with an estimated turnover of Rs 800 crore. 
Image:Thinkstock

Myntra
Mulls Opening Offline Stores

<a href="http://www.businessinsider.in/searchresult.cms?query=Peyush+Bansal&amp;sortorder=effectivedate">Peyush Bansal</a> reminds you of <a href="http://www.businessinsider.in/searchresult.cms?query=Suicide+Squad&amp;sortorder=effectivedate">Suicide Squad</a>’s <a href="http://www.businessinsider.in/searchresult.cms?query=Deadshot&amp;sortorder=effectivedate">Deadshot</a>. He is not a killer, but has built a killer business from scratch. 
 
As some <a href="http://www.businessinsider.in/searchresult.cms?query=e-commerce&amp;sortorder=effectivedate">e-commerce</a> biggies struggle with lower valuations, this <keyword id="3564404" type="UNKNOWN" weightage="60" keywordseo="online-eye-wear">online eye-wear</keyword> retailer has raised money from <a href="http://www.businessinsider.in/searchresult.cms?query=Ratan+Tata&amp;sortorder=effectivedate">Ratan Tata</a> and Infosys co-founder <a href="http://www.businessinsider.in/searchresult.cms?query=S+Gopalakrishnan&amp;sortorder=effectivedate">S Gopalakrishnan</a>. The latest fund-raising round will spike <keyword id="1518229" type="PERSON" weightage="60" keywordseo="Lenskart">LensKart</keyword>’s valuation to $240 million, and Bansal says it will turn profitable in 2017. 
 
Growing at a solid 125%, the idea is to charge forward, hard and strong. They even developed a light-weight eye-testing equipment that can survive a drop from the 20th floor. 
 
Business Insider chatted up with Peyush to understand what he’s been up to. 
 
At a time when business is moving offline to online, you’ve done the reverse. 
It’s not a question of online or offline. You can do it either way. 
 
Just reach out to your consumers to know what they like and don’t like about you. Our consumers prefer to try before they buy, and so we created a click-and-mortar store model. That’s the idea. 
 
But offline is way more asset-heavy… 
Every medium has its own pros and cons. It all depends on the vision of the company. 
 
If your vision is half-a-billion Indians to wear you, you can’t work on those notions. If people want to consume your product, I don’t think any medium is expensive. The problem kicks in when you aren’t selling enough, that too at a discounted price. 
 
Why scale your home service programme in a country that has so many logistic loop-holes? Just because <keyword id="108235" type="ORGANIZATION" weightage="60" keywordseo="logistics">logistics</keyword> is struggling in India doesn’t have anything to do with us. 
 
Think of Doctor Lal’s Path Labs. It’s very successful in the home-service business. It’s all about what and how you are providing the service to make it accessible. For millions of Indians to wear specs, 2000 stores, a mobile app and a mobile website aren’t enough. The home service programme helps us take our service to tier II and tier III cities without the hassles of buying property. 
 
Think of an <a href="http://www.businessinsider.in/searchresult.cms?query=Uber&amp;sortorder=effectivedate">Uber</a> or <a href="http://www.businessinsider.in/searchresult.cms?query=Ola&amp;sortorder=effectivedate">Ola</a>. They have scaled fantastically just because of this. The idea is to build that kind of accessibility. 
 
How much money has gone into developing your new eye-testing equipment? 
It’s taken months of R&amp;D and at least a million dollars. The equipment is placed in an unbreakable, waterproof case that allows the optician to travel whatever the weather conditions. 
 
What are your targets like for the year? 
We are looking to treat at least 10,000 eyes every day. That’s 2 million every year. We are operationally profitable. We’ll be net profitable in mid-2017.

Nailing it Right, up to 3 Decimal Places – Peyush Bansal of
Lenskart

Niche online retailers or e-tailers are taking on giants like <keyword id="18635" type="CITY" weightage="60" keywordseo="Amazon">Amazon</keyword>, <keyword id="6354742" type="COMPANY" weightage="60" keywordseo="Flipkart">Flipkart</keyword>, <keyword id="541988" type="COMPANY" weightage="60" keywordseo="SnapDeal">Snapdeal</keyword> through their ‘try and buy’ schemes. As per industry experts, e-tailers—like <keyword id="1518229" type="PERSON" weightage="80" keywordseo="Lenskart">Lenskart</keyword>, BlueStone, <keyword id="686987" type="COMPANY" weightage="80" keywordseo="CaratLane">Caratlane</keyword>, etc—who give customers a lucrative option of trying at home before buying, are hurting country’s largest online market places as the scheme has been able to push through higher value purchases, earn customer loyalty and satisfaction. 
 On an average, 10-12% of products sold online are returned by customers for varied reasons and as per industry estimates every return costs an additional Rs 70 for <keyword id="436047" type="UNKNOWN" weightage="60" keywordseo="Ecommerce">eCommerce</keyword> firms, excluding shipping costs. However, though home trials also cost the same ranging to Rs 70-100 per visit, but they have their eyes trained on potential long-term benefits. 
 
As per Economic Times, this gives them an advantage over eCommerce giants such as Flipkart and Amazon in the specific category they operate, because offering home trials would complicate the inventory-light business models of these electronic marketplaces. 
 
Lenskart, an eye-wear online retailer, has been offering home trials in 42 cities for the past five months. Under the scheme, customers have to choose five frames which the delivery people bring it to their homes. 
 
As per data provided by the financial daily, this practice has translated to over 8% of the company's 150,000 monthly shipments. 
 
"Home trials work for specialised categories where people want to be sure they make a right decision," co-founder and chief executive of Lenskart Peyush Bansal told ET, adding "We have seen that about 60-70% of the user send up placing an order. The conversion rates are higher and results in half of regular return rates of 7% for items ordered online." 
 
The scheme is doing wonders for Ratan Tata founded BlueStone as the company claims the returns have plummeted to zero. The company offers online buyers to try replicas of jewellery pieces at their homes before buying them. 
 
"Since it's a high-value category with the average price of an item sold on our site around Rs 20,000 per piece, a 'home try on' more than covers the cost of bringing the samples to a customer's doorstep," CEO Gaurav Singh Kushwaha told ET. He added that this has boost their transactions. 
 Meanwhile, Bengaluru-based online furniture retailer <keyword id="6368309" type="COMPANY" weightage="60" keywordseo="Urban-Ladder">Urban Ladder</keyword> recently allowed customers to choose colours and fabrics for sofas, charging Rs 299 for the service. Tiger Global-backed Caratlane sends jewellery consultants for home trials on request. 
 However, lingerie e-tailer Zivame stopped the ‘<keyword id="2837317" type="UNKNOWN" weightage="80" keywordseo="try-at-home">try at home</keyword>’ scheme after a three-month period and replaced it with ‘fit assessment’ and call centre, without charging the consumer. 
 
Assistant professor of marketing at the Indian Institute of Management, Bengaluru, Seema Gupta informed that try and buy policies would work for companies that deal in high-value and high-margin products to lock in the customer. “The cost of exchange can be recovered from the high margins in these products. Inventory players have better quality control and hence try and buy is likely to be more successful in them than a marketplace,” she added. 
 
Globally, in a bid to bridge the experiential shopping gap, ‘try and buy’ schemes have long been deployed since eCommerce began. New York-based online eyeglasses retailer Warby Parker, estimated to be valued at $1 billion, lets people choose five eye-frames to be shipped over for a five-day home trial, all free of cost. While in India, industry experts forecast a speedy phase-out of retail stores in several categories like electronics and books, where the touch and feel is not that important. 
 
"Over time, outlets will only be needed to test the look and feel. For products where touch and feel is less important today such as smartphones, tablets and other electronics, the opportunity to phase out large offline locations quickly will be even greater,” said Aamir Jariwala, member at industry body Ecommerce Coalition of India and founder of Karma Recycling, an online seller of refurbished electronic products. 
 
(Image: Reuters)

Know how the ‘try and buy’ tactic by smaller e-tailers is hurting Amazon, Flipkart and Snapdeal

Cupertino, June 16 (IANS) Apple App Store facilitated $519 billion in commerce and sales globally in 2019 and more than 85 per cent of the $519 billion total accrues solely to third-party developers and businesses of all sizes, a new study by Apple has revealed. The new study, conducted by independent economists at Analysis Group, found that the highest value categories were mobile commerce (m-commerce) apps, digital goods and services apps, and in-app advertising. "The App Store is a place where innovators and dreamers can bring their ideas to life, and users can find safe and trusted tools to make their lives better," Apple CEO Tim Cook said in a statement late Monday. "In a challenging and unsettled time, the App Store provides enduring opportunities for entrepreneurship, health and well-being, education, and job creation, helping people adapt quickly to a changing world," he added. Of the $519 billion, the study found that sales from physical goods and services accounted for the largest share, at $413 billion. Within that category, m-commerce apps generated the vast majority of sales, and of those, retail was the largest, at $268 billion. "Retail apps include those that digitally represent brick-and-mortar stores such as Target and Best Buy, as well as virtual marketplaces that sell physical goods, such as Flipkart, Lenskart and Myntra but do not include grocery delivery, which is its own category," the findings showed. Travel apps, including Ixigo, Cleartrip and Makemytrip, accounted for $57 billion. Ride-hailing apps, including Ola Cabs, comprised $40 billion in sales, and food delivery apps, including Zomato, Swiggy and Freshmenu, made up $31 billion. Billings and sales from digital goods and services comprised $61 billion, and this category included apps for music and video streaming, fitness, education, ebooks and audiobooks, news and magazines, and dating services, among others. Games, the type of app most downloaded in 2019, was the largest generator of billings and sales within this category. In-app advertising sales accounted for $45 billion, and of that, 44 per cent was derived from games. Non-gaming apps that generate substantial in-app advertising sales are often free to download and use, such as Twitter and Pinterest, though others also offer in-app purchases to access content, such as The New York Times. Launched in 2008, App Store is currently home to almost 2 million apps and visited by half a billion people each week across 175 countries. "We're committed to doing even more to support and nurture the global App Store community  from one-developer shops in nearly every country to businesses that employ thousands of workers  as it continues to foster innovation, create jobs, and propel economic growth for the future," said Cook. According to the study, the direct payments made to developers from Apple are only a fraction of the vast total when sales from other sources, such as physical goods and services, are calculated. Apple only receives a commission from the billings associated with digital goods and services. --IANS na/

Apple App Store drives $519bn in sales in 2019, mobile commerce leads

Shopping is a lively experience. While many do it as a stress-busting exercise, some do it because they just feel the need to buy. With the Festival of Lights just around the corner, most people are out on a shopping spree. But this Diwali could be a bit different for the majority of <keyword id="44446" type="PERSON" weightage="100" keywordseo="retailers">retailers</keyword> and <keyword id="1073727" type="UNKNOWN" weightage="100" keywordseo="e-tailers">e-tailers</keyword> across the country as they engage with a tech-savvy and digitally informed crowd. 
 Interestingly, not all shoppers are geeky millennials (born after 1980) looking for the coveted Gold iPhone or the Samsung Galaxy Gear smartwatch at mega-retailers. Instead, ‘digitally driven’ customers (who might have already done their research online) are invading every nook and cranny – right from top notch electronics outlets to sparkling jewellery stores and <keyword id="1915266" type="UNKNOWN" weightage="100" keywordseo="neighbourhood-shops">neighbourhood shops</keyword> who have stocked up on traditional Diwali ware including dry sweets, clay diyas, crackers and rangoli materials. 
 The domestic retail market in India is worth an annual $500 billion and about 45 million small merchants are now operating here. Yet, catering to a connected and high-spending consumer community is a big challenge, especially with so many big-box retailers, hypermarkets and e-commerce mammoths around. If you own a shop, a brick-and-mortar one, here are 9 quick-fix <keyword id="514572" type="ORGANIZATION" weightage="100" keywordseo="Tech-Solutions">tech solutions</keyword> that may help you drive in more customers this shopping season – without spending a fortune on branding, marketing or revamping your current outlet/s. 
 
Push your store online – the more eyeballs you get, the better 
Unless they know you are there, people can’t find their way to your business. Setting up a digital store only takes a few minutes, thanks to numerous e-commerce enablers like the SmartStore from Bigfoot Retail, Infibeam-run Build a Bazaar and more, all of whom offer DIY solutions. Then there are online marketplaces like Amazon India and Flipkart where SMEs can register as third party sellers/franchises and business is bound to boom. 
 
Leverage the location advantage – mobile is the watchword If you are selling designer diyas or sterling silverware in Delhi, not too many in Kerala will be interested. But trust the NCR crowd to turn up for the sale if you have done some <keyword id="1915279" type="UNKNOWN" weightage="100" keywordseo="geospecific-advertising">geospecific advertising</keyword> and <keyword id="1915281" type="UNKNOWN" weightage="100" keywordseo="geofencing">geofencing</keyword>. With the world going mobile and India no exception either, apps are aplenty to help shoppers find the best local deals – be it shopping, sightseeing, movies or dinner. As most people love to keep track of deals, coupons, product information and freebies, it makes sense to leverage the location advantage and hook your local customers via mobile. 
 Local promotion will also turn big on <keyword id="6354632" type="COMPANY" weightage="100" keywordseo="Social-media">social media</keyword>. For instance, Twitter will soon allow companies to promote tweets to people who are near specific latitudes and longitudes. You can also take a call on Big Data analytics that will give you access to demographic details, shopping patterns and social behaviour – so that you can send most relevant marketing messages. 
 
Enhance In-store experience – build a ‘physical’ Web 
This may take some time and a little investment, but works well in the long run. The mantra is to create a ‘physical’ web that replicates one’s online experience within the brick-and-mortar outlet. An amazing example is the recently launched Android Land store in Bangalore and NCR. Set up interactive kiosks for product browsing, comparisons and access to consumer reviews; provide in-store inventory search and finally, allow customers some hands-on time to understand product functionality. Put together, it will feel like a seamless navigation between Web and physical environments, done interchangeably to meet one’s shopping needs. In case you are running a hybrid model, offer a bouquet of services that will combine both online and offline features. 
 
Speed up shopping with a smile – tech tools can help 
Unlike the previous breed of shoppers, the current lot doesn’t shop by printed specs or gut feelings. In fact, you are sure to find one or the other spending ages on the smartphone or tab, comparing features and pricing. Another could be walking around the store, trying to track you via Google Maps. And those deep into social shopping could even try and get peer reviews before making a purchase. 
 
Not all shoppers will go to that extreme, but many feel irritated if they are hurried by human assistants before their personal browsing is over. Keep a discreet distance till then or better still, provide some technology touch points to speed things up. Your sales staff can be on the floor with handheld devices through which they can accept payments and assist people with product search, specs comparison and more. Or how about self-help barcode scanners like iScan that allow customers scan their merchandise? It means they need not spend time in check-out queues as their purchased items are scanned and billed automatically. 
 
<keyword id="1468988" type="UNKNOWN" weightage="100" keywordseo="Showrooming">Showrooming</keyword> hurts – but this TV commercial has a solution 
We recently came across a TVC that shows a young couple hurrying out of a store (presumably to find better pricing elsewhere) and the sales person asking them back. He then displays a full price comparison on a handheld device and proves that the store offers the best deal. What the couple did is popularly known as showrooming – the act of checking out a product in a store and then buying it online for a lower price. According to a recent IBM study, it is a growing trend in the country and there is a higher incidence of showrooming in China (26%) and India (13%) than in the US (7%). 
 
Although it hurts most retailers, there are ways to curtail it – in the same way the TVC suggested. The trick lies in creating an exciting customer experience through hi-tech tools, hands-on product experience and personalised services. In brief, retailers must understand consumer interests and expectations in a bid to develop curated experience for all. And a well-aligned, multi-channel approach (Web, mobile, tab and physical store) is the way to win today’s consumers who love convenience over everything else. 
 
Cash and swipe are last-century relics – go for <keyword id="1915270" type="UNKNOWN" weightage="100" keywordseo="mobile-PoS">mobile POS</keyword> 
For small-format consumer retail, mobile payment can be a great option as it has greater acceptability among young shoppers, does away with checkout queues and helps one handle just about any transaction anywhere. Business owners can also accept payments via credit/debit cards without paying high transaction fees. You only need to pay the m-payment enabler, which is usually a small percentage of each transaction. Although Near-Field Communication (NFC) is the best bet for m-commerce till date, a whole lot of home-grown companies are now providing cost-effective software solutions/apps that can turn even a simple feature phone into a POS terminal for swiping credit/debit cards or even for some simple bank transactions. 
 
Showcase things upfront – it speaks of integrity 
That’s the best way to win customer loyalty in a highly competitive scenario. Don’t just say you are the best in the town – prove it with your products and services. Amazon is the role model here – even for those retailing offline. After all, business values like speed, efficiency and transparency can boost your venture no end. What’s more, there are cool tools to prove it to your customers as well, as e-tailing major Myntra.com has recently showcased. During its Diwali sale, the e-commerce site was offering special prizes for top spenders and had in place a real time leader board – so that customers can track their positions online and find out if they had won. Apple does the same when a deal is going in iTunes Store and the message is clear enough. A transparent model puts your customers in the driver’s seat and shows you have a cherish-worthy value system. 
 
To stay ahead of competition – re-invent your business 
Every business has its quirky moments and out-of-the-box thinking (even with some risk elements) can really get the market going for you. Take a hint from fashion e-tailer Yebhi.com or online jeweller CaratLane.com, both of whom offer a try-and-buy service and bring home the store experience. Lenskart.com has gone one step ahead – it not only offers home try-on, but will also get your eyes tested at your doorstep. 
 So think differently about your business. You should be ready to give something new to your customers every 6-8 months. <keyword id="3670298" type="UNKNOWN" weightage="100" keywordseo="Small-retailers">Small retailers</keyword>, too, can think along new lines which can gain them good traction. For instance, a local grocery shop we knew in Bangalore used to mail new recipes every Sunday if people ordered from the store and that worked out fabulously. 
 
Meet your customers fast – you need to build a relationship 
That’s what Yelp’s Jeremy Stoppelman did and he did it face to face to understand what kind of people were using the revamped Yelp and what they were looking for. The company still holds these get-togethers, but you can keep things simple and do it via social media. 
 
That’s one must-not-skip strategy exercise nowadays as brands are built through storytelling and connected customers want to get involved in a meaningful way. It means they want to share their stories, opinions and insights which are both relevant to your business and a pronounced assertion of their own self. So keep your finger on the social pulse and build your business around it to ensure crowd following.

You Searched For "Lenskart stores" and got 14 results

Abu Dhabi Investment Authority invests $500 mn in eyewear unicorn Lenskart

IANS

Lenskart to launch 500 stores in 2020 and increase its focus on AI and digital marketing

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Lenskart aims to hire over 2000 employees to ramp up its operations

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Lenskart to launch 500 stores in 2020 and increase its focus on AI and digital marketing, says Co-founder, Amit Chaudhary

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Lenskart raises $220 million to launch in Middle East, Southeast Asia

IANS

Lenskart gets funding of $95 million from global investment firm KKR

PTI

After BigBasket, World Bank’s IFC is going to pump in Rs 170 crore in Lenskart

BI India Bureau

How Sachin Tendulkar-backed Smaaash is making a comeback with 45 stores by June 2022

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9 years later, Lenskart set to be a unicorn having fought off losses and welcomed investors

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Myntra Mulls Opening Offline Stores

BI India Bureau

Nailing it Right, up to 3 Decimal Places – Peyush Bansal of Lenskart

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Know how the ‘try and buy’ tactic by smaller e-tailers is hurting Amazon, Flipkart and Snapdeal

Apple App Store drives $519bn in sales in 2019, mobile commerce leads

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9 Tech Makeovers That Can Lure Festive Shoppers Back To Local Stores

Sanghamitra Mandal

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