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Lenskart enters smaller towns as IPO nears
Mint Hyderabad
|August 04, 2025
Tier II and beyond markets now account for 34% of Lenskart's India footprint, up 45% from 483 stores at the end of FY23
Lenskart, the country's largest eyewear retailer, is doubling down on physical stores in smaller cities and towns as it prepares for a public listing—betting on lower rents, untapped markets and early-mover advantage to offset rising lease liabilities and growing metro competition.
Offline retail contributes around 75% to Lenskart's revenue and store distribution has shifted in favour of smaller markets. As of FY25, the firm had 698 stores in tier 2 cities and beyond, 469 in tier 1 cities, and 900 in metros—categories defined separately in its draft red herring prospectus.
This story is from the August 04, 2025 edition of Mint Hyderabad.
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