Lenskart Targets $6 Billion Milestone: Funding Update

Lenskart is targeting a $6 billion valuation in its upcoming funding round.

Their growth:

– Revenue Growth: Lenskart saw a 43% rise in revenue, reaching ₹5,610 crore in FY2024.

– EBITDA Doubled: EBITDA jumped to ₹856 crore, with a 15.3% margin.

– Profitability Challenges: They posted a ₹10 crore loss due to higher costs.

Expansion Plans :

– $200M Investment: A new, 10x bigger manufacturing plant is coming up in southern India.

– Growing Store Network: Over 320 stores in 90+ cities, with a strong online and offline strategy.

Market Outlook

– Lenskart leads India’s eyewear market with an 8% share.

– 75% of Indians need eyewear but don’t use it, leaving huge growth potential.

– Focusing on customer experience and expanding product offerings, including children’s eyewear.

Lenskart’s growth shows how smart expansion and managing costs can help to achieve big goals. With strong revenue growth and a clear strategy, they’re on track for their $6B target.

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