Eyewear retailer Lenskart has announced plans to invest $200 million in a new manufacturing plant in southern India according to a report by The Economic Times. The upcoming facility is expected to be significantly larger than the company’s existing plant in Rajasthan, which has played a key role in its operations. This expansion comes as Lenskart reaches a revenue run-rate of $1 billion for the current fiscal year.
According to the company’s CEO Peyush Bansal, the increased focus on local manufacturing has been instrumental in supporting both its domestic and international businesses. Lenskart manufactures all of its products locally, and this has enabled faster delivery times across its markets. Currently, the company offers next-day delivery in eight Indian cities, up from 5-6 cities in previous years.
The Rajasthan facility has helped Lenskart reduce its reliance on imported frames, which were previously sourced from countries like Japan. The company now produces approximately 25 million frames and 30-40 million lenses annually in India.
Bansal noted that the company’s strategy for the coming years includes scaling up its operations, increasing the number of stores, and continuing to improve delivery times. The new plant is expected to play a crucial role in meeting these goals.