Lenskart enters smaller towns as IPO nears

Tier II and beyond markets now account for 34% of Lenskart's India footprint, up 45% from 483 stores at the end of FY23

- Sakshi Sadashiv

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.