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Lenskart, one of India’s leading eyewear retailers, is set to prioritize volume growth following a strong second-quarter performance. CEO Peyush Bansal stated that the company plans to expand its reach across the country while continuing to focus on affordability and accessibility.
Strong Q2 Performance Drives Strategy
The retailer reported robust growth in Q2, driven by increased footfall in stores and a surge in online sales. Lenskart’s blended model of physical and digital retail has been a key factor in its success. Bansal emphasized that the company’s strategy is now shifting towards scaling volume, rather than solely focusing on premium product sales.
Expansion of Retail Footprint
Lenskart has been aggressively expanding its physical stores. Over 700 stores currently operate nationwide, with plans to add more outlets in smaller towns and cities. This expansion aligns with the company’s goal of increasing volume sales and capturing a larger share of the Indian eyewear market.
Strengthening Digital Presence
While brick-and-mortar stores remain a priority, Lenskart continues to invest in digital innovation. Online sales channels, virtual try-on features, and personalized recommendations are part of the company’s strategy to attract new customers and retain existing ones. The hybrid approach of combining offline and online channels has proven effective in boosting sales.
Eyewear Market Trends
India’s eyewear market continues to grow, fueled by rising awareness of eye health and fashion trends. Affordable eyewear options and omnichannel experiences are attracting a wider audience. Lenskart’s focus on volume growth aligns with these market dynamics, potentially enabling it to capture a larger share of the rapidly expanding industry.
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