Lenskart may relocate manufacture from Southeast Asia to an India factory.
Omnichannel eyewear retailer Lenskart plans to shift its entire manufacturing operations in Southeast Asia
Omnichannel eyewear retailer Lenskart plans to shift its entire manufacturing operations in Southeast Asia
including for its recently-acquired Japanese eyewear chain Owndays, to its largest manufacturing unit in Bhiwadi, Rajasthan, said two people with direct knowledge of the company’s plans.
“Lenskart serves over 7 million customers through its omni-channel retail model; it already has a good presence through its internet channel and has been opening physical stores at a rapid pace, not seen by any other player in this industry globally.
“Controlling the supply chain through this factory will be value accretive and help the company ramp up its margins," the second person said.
Omnichannel distribution requires the use of technology, and Lenskart has been investing in a highly-automated distribution centre, capable of delivering more than 200,000 eyewear daily for the Indian and overseas markets.
The second person said it would soon look to introduce these services in overseas markets.
“The idea is to service these markets from India," said a third person, who also did not wish to be named.
SoftBank-backed Lenskart, which is planning a public listing by the end of 2023, currently has a revenue run rate of ₹2,800-2,900 crore.
Owndays, which it acquired in a $400 million stock-and-cash deal, is profitable and has a revenue run rate of ₹1,800-2,000 crore.