Lenskart plans to invest Rs 1,500 crore in setting up Telangana’s largest eyewear manufacturing facility. Lenskart has signed an MoU with the Telangana government to set up its largest eyewear manufacturing facility at Fab City, with an investment of Rs 1,500 crore.

The facility will produce eyewear, lenses, sunglasses, and accessories for the Indian market and export to Southeast Asia and the Middle East.

The new plant is expected to create around 2,100 jobs. The new manufacturing plant will be ten times larger than Lenskart’s existing facility in Rajasthan.

Local manufacturing supports Lenskart’s online operations in India and helps with next-day delivery to eight Indian cities, up from five towns in the past.

The new plant will strengthen Lenskart’s position as a global eyewear maker, aiding exports to markets like Japan, Southeast Asia, and West Asia.

Founded in 2010, Lenskart is backed by Temasek and SoftBank and has over 2,500 retail stores in India, with plans to add 400 more stores this year.

2023-24, Lenskart’s net loss narrowed to Rs 10 crore from Rs 64 crore the previous year, driven by improved operational performance.

The company’s operating revenue rose 43% year-on-year to Rs 5,428 crore. Lenskart achieved an annual revenue run rate of $1 billion (approximately Rs 8,400 crore) for the current financial year.

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