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ET Startup Awards 2024: Lenskart eyes $200 million factory as revenue run rate hits $1 billion

Economic Times · 26d

- Lenskart plans to invest $200 million in a new manufacturing plant in southern India, which will be 10 times the size of its existing plant in Rajasthan. - Lenskart's local manufacturing has become a backbone for its online operations, allowing for next-day delivery in eight Indian cities and enabling the company to sell India-made products in global markets. - The new facility is expected to be operational within 18 months and will strengthen Lenskart's position as a global hub for eyewear manufacturing. - Lenskart has more than doubled its FY23 revenue and is on track to close over $1 billion in revenue for FY25. - The company's omnichannel strategy, with online and physical stores, has been a key driver of its growth, and it plans to add another 400 stores this year. - Lenskart remains focused on delivering a great customer experience, investing in technology, and expanding into new consumer segments, such as kids' eyewear.