Lenskart Becomes Public Company Ahead of Potential $1 Billion IPO

India’s consumer tech space is abuzz as Lenskart becomes a public company, positioning itself for what could be one of the largest IPOs by an Indian retailer this decade—a potential fundraise of $1 billion at a sought-after $10 billion valuation. 

The move is a watershed for the homegrown eyewear leader, signaling a maturity not just of the company but of the broader Indian direct-to-consumer landscape. This insightful report unpacks the strategic groundwork, financials, market ambitions, risks, and transformative milestones behind Lenskart’s public pivot.

Lenskart: Financial Performance

Lenskart’s financial journey over the past three years offers a compelling story of exponential revenue acceleration alongside efforts to optimize profitability. The company’s revenues have surged and increased from around revenue near ₹1,502 crore in FY22 to ₹5,427 crore by FY24, it represents a more than threefold increase in just two years. Although the net profit dipped slightly to a marginal loss of ₹10 crore in FY24, this major route towards IPO path represents a significant improvement from previous years’ losses, highlighting the company’s successful navigation through a high-investment growth phase.

About Lenskart Upcoming IPO

The Lenskart IPO is being designed with clear objectives. The company seeks to raise as much as $1 billion—an amount that would both double its last known valuation and secure growth capital for further expansion. Its last funding round, a $200 million injection led by Temasek and Fidelity, cemented a $5 billion valuation in June 2024; since then, new investor markings have hinted at a current value above $5.6 billion, preparing the stage for the much-publicized $10 billion target.

Proceeds from the IPO are expected to drive aggressive investments in technology (including AI-driven retail enhancements and automation), expand manufacturing capacity (including a new factory in Telangana), fuel new store openings across India and Asia-Pacific, and fund strategic acquisitions in international eyewear markets. These expansion plans feed an overarching ambition: not just to dominate India, but to build a world-scale omni-channel eyewear brand.

Omnichannel Domination and Global Expansion

Lenskart’s success and potential milestone sets lies in its seamless integration of online and offline channels, with over 2,500 stores across India and international markets this omnichannel way model, combined with other facilities and features for modern generation digital platform offering virtual try-ons, home eye check-ups, and personalized fittings. Domestic sales determine the pace of achievement that has crossed and constitute approximately 58% of total revenue, supported by rapid store expansion in tier-II and tier-III cities, while international markets like Japan, Singapore, and Southeast Asia contribute 42%, demonstrating Lenskart’s evolving global ambitions.

The company’s strategy and implicities  to invest heavily in manufacturing facilities, especially in Rajasthan and Telangana, in order to strengthen supply chain resilience and position Lenskart as a vertically integrated eyewear powerhouse. Its growing manufacturing capacity supports both domestic demand and export strategies, key to sustaining growth post-IPO.

Lenskart: Market Positioning

Lenskart’s business model is a blueprint for modern consumer retail success. It offers prescription glasses, sunglasses, contact lenses, and vision-care services via a hybrid of digital and physical channels—over 2,500 stores worldwide (of which 2,000 are in India), a top-ranked e-commerce platform, and a suite of home eye-checkup and virtual try-on technologies. Vertical integration helps it control quality, manage costs, and sustain inventory agility.

International operations now contribute a substantial 42% of Lenskart’s revenue, propelled by markets like Singapore, Japan, Thailand, Taiwan, and the Middle East—a rare feat for an Indian retailer. The company has also de-risked its supply chain by relocating its global manufacturing to India—expanding its Rajasthan plant and building a new, automated facility in Telangana for an investment of ₹1,500 crore.

A key differentiator is relentless technology deployment: Lenskart uses AI for inventory optimization, AR for customer fittings, and just-in-time manufacturing to minimize waste and maximize service speed. This digitally augmented omnichannel strategy has secured the brand a market share exceeding 25% in India’s organized eyewear segment, well ahead of close competitors like Titan Eye Plus.

Market Outlook: Why Lenskart’s IPO Is Closely Watched

Industry observers are framing the Lenskart IPO as a strong bellwether for investor sentiment and it is not just for consumer retail perspective but for the next generation of Indian technology-driven advanced and superb advancements in consumer brands. In a year characterized by global uncertainty and volatile capital flows, Lenskart’s strong revenue growth, technology differentiation, and measured move toward profitability provide rare positive signals.

Analysts expect Lenskart’s success—or stumbles—to influence other Indian unicorns (such as Zepto and Groww) weighing IPOs soon. The company’s ability to command a premium valuation will serve as both a financial precedent and a referendum on the sustainability of new-age Indian consumer platforms scaling internationally.

Lenskart: Vision for the Future 

Founder Peyush Bansal and his team emphasize that the goal is not merely going public, but building a global consumer brand with consistent experience and operational resilience. The IPO is just a waypoint—a means to empower deeper technology investment, solidify supply chain control, grow in high-margin overseas markets, and most importantly, maintain the customer-centric culture that has fueled brand loyalty in India’s hyper-competitive retail world.

Conclusion

As Lenskart steps into its public chapter, it stands as a symbol of how homegrown tech, manufacturing integration, and global ambition can converge within India’s startup ecosystem. The story is as much about unlocking vision for consumers as it is about offering new sightlines for investors betting on a digital-first, globally competitive Indian brand. With a strong base, strategic clarity, and, crucially, demonstrable financial growth, Lenskart’s anticipated billion-dollar IPO not only marks a new era for the company but might very well set a landmark for Indian retail’s new global age.