Finshots Daily The Lenskart IPO explained
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Oct 31, 2025 The discussion dives into the upcoming Lenskart IPO, raising eyebrows over its valuation. Founder's journey to modernize eyewear with tech-driven solutions makes for a fascinating backstory. Automated factories and a robust omnichannel strategy showcase its delivery edge. As revenue grows, marketers highlight a shift to company-owned stores for better profit margins. Questions linger around the sustainability of reported profits, with a curious exploration of eyewear as a blend of marketing and genuine value.
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Origin Story Of Lenskart
- Piyush Bansal recounts building Lenskart to make eyewear buying as seamless as ordering clothes online.
- He describes centralized automated factories, virtual try-ons and a national store plus home-eye-test network.
Profit Jump Driven By Accounting Items
- Lenskart reported FI25 revenue of ~₹7,000 crore and improved operating margins from 6.8% to 14.6% over two years.
- Much of the headline profit came from non-cash accounting adjustments like revaluation of an acquisition liability.
Shift To Company-Owned Stores
- Lenskart is shifting from franchise (FOFO) to company-owned stores (COCO), claiming faster payback of ~10 months.
- The move aims to improve control over pricing, product mix and margins.