Lenskart to open 400 stores with investment of `100 cr in 2 years
Ratan Tata-backed eyeware retailer Lenskart plans to invest over Rs 100 crore on business expansion, including opening of 400 stores, in the next two years.
The company, which has a strong online presence, is eyeing a total of 700 stores by March 2019 by targeting small towns, tier II and III cities.
"As of now we have 300 stores across India and in the next two years we plan to open another 400 stores," Lenskart CEO Peyush Bansal told PTI.
The current Lenskart stores in over 80 cities are based on franchise model, he added.
When asked about investment for the expansion, Bansal said the company will be putting in capital primarily around building back-end supply chain, while franchises would invest in opening stores.
"For us the total investment would run to around Rs 100 crore primarily to build supply chain, to be able to service all our stores and also train staff," he added.