Lenskart Solutions plans to expand from 2,700 to over 10,000 stores in India, focusing on demand for premium eyewear and technological innovations, while boosting international presence with new store formats and remote optometry services.
Lenskart Solutions is betting that rapid store expansion will not come at the expense of demand, even as the eyewear retailer moves from about 2,700 stores in India towards a long-term target of more than 10,000. Chief executive Peyush Bansal said the market remains under-penetrated, helped by rising myopia rates and demand that he believes is still waiting to be tapped in categories such as progressive lenses and lower-priced frames and glasses. He argued that the company can keep same-store sales growing so long as it continues to expand the number of eye tests it conducts, effectively widening the funnel rather than simply splitting existing demand across more outlets.
The company says its recent store additions have not diluted performance in existing locations. Lenskart has increased store density in some pin codes from 1.5 to 1.6 outlets while still holding same-store sales growth at around 18%, and it says sales in the same pin codes rose 24%. Bengaluru was cited as a proof point, with 189 stores and 13 net new openings still producing 20% same-store sales growth. The company’s response to the challenge of scaling, according to its executives, has centred on operational engineering: shorter waits, better product discovery, RFID tracking and AI-driven eye tests.
Affordability is another part of the strategy. Lenskart says it has made a Rs.500 glasses offer profitable through in-house manufacturing in India, tighter logistics and an omnichannel approach to customer acquisition. The company also says its premium business is expanding, with lenses priced above Rs.3,500 and frames above Rs.5,000 treated as premium, while the Rs.10,000-plus category has risen from 18% to 20% of sales. It has also pointed to growing demand for high-end progressive lenses, including products from Rodenstock and Tokai, which the company says now generate roughly Rs.250 crore a year.
Internationally, Lenskart said revenue rose 38% and EBITDA margins topped 10% for the first time, suggesting the business has moved past the question of profitability abroad and into a phase of scaling. But the company’s expansion plan varies by market. In places such as Thailand and the Middle East, it is adding stores more aggressively, while in Singapore and Japan it is focusing on integrating technology and preserving customer experience. The company also said remote optometry has expanded to 786 stores from 168 at the end of FY25, supported by a logistics network that combines air, train and bus transport for tier-two and tier-three markets.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
