Lenskart to Establish Largest Eyewear Manufacturing Facility in Telangana with INR 1,500 Cr Investment The project is expected to generate around 2,100 jobs, with discussions underway for an additional R&D center.
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IPO-bound eyewear giant Lenskart is set to establish its largest manufacturing facility in Telangana's Fab City with a INR 1,500 crore investment.
The Gurugram-based company signed a memorandum of understanding (MoU) with the Telangana government for the project, according to state IT and Industries Minister Duddilla Sridhar Babu.
"This state-of-the-art facility will produce eyewear, lenses, sunglasses, accessories, and other products to cater to both domestic and international markets, including Southeast Asia and the Middle East," Babu announced on X. The project is expected to generate around 2,100 jobs, with discussions underway for an additional R&D center.
Lenskart's investment reflects the state's pro-business policies, with land already identified and set to be handed over this week. This initiative aligns with Telangana's ambition to become a hub for cutting-edge manufacturing.
The development comes as Lenskart solidifies its global footprint. In 2024, the company raised USD 200 million in a secondary investment round led by Temasek and Fidelity, valuing it at USD 5 billion. Fidelity later revised this valuation to USD 5.6 billion as of September 30. Over the past two years, Lenskart has raised nearly USD 1 billion in capital, highlighting its robust growth trajectory.
Led by CEO Peyush Bansal, Lenskart has disrupted the eyewear industry with its innovative click-and-mortar model. The company operates over 2,500 stores globally, including 2,000 in India, while competing with brands like Titan Eyeplus and Luxottica.
Lenskart's aggressive growth strategy includes acquisitions such as Japanese brand Owndays for USD 400 million and AI startup Tango Eye. The Telangana facility marks another milestone in its journey, following Bansal's earlier announcement of plans to establish a mega factory near Bengaluru.
This new manufacturing hub underscores Lenskart's vision to deepen its domestic reach while expanding internationally, bolstering its position as a leader in the eyewear industry.
