Well, if you live in India and use spectacles or eye glasses, then there is no way that you haven’t heard of Lenskart yet. Right? And we all know that by offering eyewear frames and lenses is their main source of income, but that’s not the only way they make money. See, if you’re a little confused about Lenskart’s business model or how Lenskart makes money, just keep on reading to find out more about that.
A Quick Look at Lenskart’s Journey
Lenskart was initiated in 2010 by Peyush Bansal, Amit Chaudhary, and Sumeet Kapahi. The company’s initial idea was to make glasses available at an affordable price through the internet. Except for the success of the online model, they still had bigger plans. At present, their enterprise is functioning on the combined “online-plus-offline” model, which is the core of their empire that they have built so far.
| Company / Brand Name | Lenskart |
| Establishment Year | 2010 |
| Headquarters | Gurugram, Haryana, India |
| Founder / Owner | Peyush Bansal (CEO), Amit Chaudhary, Sumeet Kapahi |
| Industry | Eyewear retail and e-commerce |
| Net Worth (Valuation) | About $6.1 billion as of April 2025 |
| Total Revenue in 2024 | About ₹5,428 crore |
What Exactly Does Lenskart Offer?
Lenskart has a vast selection of eyewear products, which include eyeglasses, sunglasses, contact lenses, and accessories. Through their website, mobile app, or visit to any of their retail stores, consumers are able to shop. What is admirable is that the inventory and pricing system is the same across all their platforms. Therefore, a customer can physically pick up where he/she left off online and thus finish the transaction at the store or the other way around without any inconvenience.
Additionally, they operate a factory of their own in Bhiwadi, Rajasthan, which has the potential to produce 50 million pairs of eyewear annually. Such manufacturing from within enables Lenskart not only to have a check on the quality but also to eliminate intermediaries and other expenses.
Lenskart’s Revenue Model: How Do They Make Money?
- Eyewear Sales (Core Revenue): A major share of their income is basically deriving from the selling of frames and lenses via both traditional and e-commerce outlets.
- Add-On Features: By providing customers with additional services such as blue-light protection, photochromic lenses, and anti-scratch coating, Lenskart is elevating its profit margins.
- Gold Membership Program: Gold Membership at Lenskart can be purchased by customers for ₹600 a year. Among other things, it gives access to exclusive offers such as “Buy 1, Get 1 Free,” free repairs, and priority service. This is a great way to generate income on a regular basis, as the business gets money, which is not even from a sale.
- Home Eye Test Service: At a low cost of ₹99, customers can make a home visit eye test booking. A professional with the necessary test equipment and glasses will pay a visit. Such an inexpensive service usually results in the on-the-spot buying of glasses, thus small fees being transformed into larger sales.
- Franchise Model: Franchise partners operate nearly 40% of Lenskart’s stores. They pay a certain amount to start the business, and then accordingly share a percentage of their sales with Lenskart.
- Bulk Orders and B2B Sales: Besides, Lenskart is the wholesaler of frames and lenses to foreign eyewear chains and their Japanese branch, Owndays, from where they receive products in bulk.
Financial Snapshot
During the fiscal year 2024, Lenskart saw their sales increase by 43% and the turnover crossed ₹5,428 crore. As they are the major producers for the most part of their product line, they maintain hefty margins. Even with their aggressive expansion, the company has managed to lower its losses to ₹10 crore. In Lenskart’s own words, if they stopped opening new stores, they would be in profit now, which is quite a strong indication that they are taking a long-term view.
Funding, Valuation, and IPO Plans
In the first months of 2024, Lenskart managed to attract more than $200 million in investments from such major investors as Temasek, Fidelity, and the Abu Dhabi Investment Authority. Their worth went up to 5 billion dollars, and after another investment from Fidelity in April 2025, it amounted to $6.1 billion. They have changed their organizational form into a public limited company, so currently, they are at the stage of submitting a SEBI IPO application. The planned IPO will be worth ₹ 2,150 crore, with the goal of having a market cap between $ 8 to 10 billion.
What’s Next for Lenskart?
Lenskart is filled with aspiration and has big plans in store. Their production abilities, accompanied by the progress in technology as 3D virtual try-ons, have opened a path for the company to extend its presence beyond Indian borders by a large margin. After going public, Lenskart is setting its sights on achieving a 100% increase in foreign revenue as well as getting hold of the US market.