The Lenskart Business Model of Own Stores, Eye Tests and Eyewear
How Lenskart designs, makes and sells eyewear in India and abroad.
Key Takeaways
- FY26 revenue from operations rose 32% to ₹8,814 crore.
- Profit after tax was ₹500.95 crore in FY26.
- It had 3,327 stores worldwide on 31 March 2026, after 603 net new stores in FY26.
- Prescription glasses brought in over 80% of its FY25 operating revenue.
Table of Contents 13 sections
- Lenskart at a glance
- What Lenskart does
- How Lenskart makes money
- Lenskart's Business Model Canvas
- Where Lenskart's money goes
- Lenskart revenue and profit over the years
- Lenskart's stores and key numbers
- Lenskart's journey so far
- The Lenskart IPO
- Who Lenskart competes with
- What the filings say about Lenskart's revenue mix and profit
- Conclusion on the Lenskart business model
- FAQs
The Lenskart business model is built on designing, making and selling eyewear through its own stores, franchise stores and online channels. Lenskart reported revenue from operations of Rs 8,814 crore and a profit after tax of Rs 500.95 crore for FY26.
It had 3,327 stores worldwide on 31 March 2026, and in Q1 FY27 (April to June 2026) it reported a profit after tax of Rs 228.43 crore. Its shares have traded on NSE and BSE since 10 November 2025.
Lenskart at a glance
| Item | Detail |
|---|---|
| What it sells | Prescription glasses, sunglasses, contact lenses and accessories |
| Corporate office | Gurugram, Haryana |
| Co-founder and CEO | Peyush Bansal |
| FY26 revenue from operations | Rs 8,814 crore |
| FY26 profit after tax | Rs 500.95 crore |
| Latest quarter (Q1 FY27) profit after tax | Rs 228.43 crore |
| Stores worldwide | 3,327 on 31 March 2026 |
| IPO | Rs 7,278 crore, priced at Rs 402 a share |
| Listing | NSE and BSE, 10 November 2025 |
What Lenskart does
Lenskart designs, makes and sells prescription glasses, sunglasses, contact lenses and accessories. Prescription glasses brought in more than 80% of its operating revenue in FY25. It sells under brands such as John Jacobs and Vincent Chase, and owns the Japanese chain Owndays, in which it bought a majority stake in 2022.
The company runs its own manufacturing facilities for lenses and frames, and it also sources some frames and raw materials from China. It also runs eye tests in its stores.
How Lenskart makes money
Lenskart earns its money by selling eyewear through its own stores, franchise stores and online channels. In FY25 its operating revenue was Rs 6,653 crore, and prescription glasses brought in more than 80% of it.
Lenskart revenue model across regions
International markets accounted for Rs 2,638 crore of the FY25 operating revenue.
Lenskart's Business Model Canvas
Where Lenskart's money goes
Lenskart's total costs were Rs 6,619 crore in FY25. Among its cost lines, employee benefits were Rs 1,379 crore, commission and incentives Rs 733 crore and marketing Rs 448 crore.
Lenskart revenue and profit over the years
Revenue from operations was Rs 5,427.7 crore in FY24, Rs 6,652.5 crore in FY25 and Rs 8,814 crore in FY26, a rise of 32% in FY26. Lenskart reported a net loss of Rs 10.1 crore in FY24, a profit after tax of Rs 297.3 crore in FY25 and Rs 500.95 crore in FY26. The FY25 profit included a one-time non-cash gain of Rs 167.2 crore.
In Q4 FY26 (January to March 2026) revenue from operations was Rs 2,516 crore and profit after tax was Rs 203.6 crore, against Rs 220.1 crore in Q4 FY25.
Lenskart's stores and key numbers
Lenskart had 3,327 stores worldwide on 31 March 2026, after 603 net new stores in FY26.
Lenskart's journey so far
| When | What happened |
|---|---|
| June 2022 | Announces majority stake in Japanese eyewear chain Owndays |
| 31 October 2025 | IPO opens with a price band of Rs 382 to Rs 402 a share |
| 10 November 2025 | Shares list on NSE and BSE |
| May 2026 | Reports FY26 results, with 3,327 stores |
| August 2026 | Reports Q1 FY27 profit after tax of Rs 228.43 crore |
The Lenskart IPO
Lenskart's IPO was priced at Rs 402 a share and raised Rs 7,278 crore, made up of a fresh issue of Rs 2,150 crore and an offer for sale of Rs 5,128.02 crore. The issue was subscribed 28.26 times on its final day. The shares listed on 10 November 2025.
Who Lenskart competes with
Titan Company sells eyewear through Titan Eye+.
What the filings say about Lenskart's revenue mix and profit
Prescription glasses were more than 80% of FY25 operating revenue, and some raw materials are imported from China. Q4 FY26 profit after tax of Rs 203.6 crore was 7.5% lower than Q4 FY25, when profit included a one-time non-cash gain of Rs 167.2 crore.
Conclusion on the Lenskart business model
Lenskart designs, makes and sells eyewear. Prescription glasses brought in more than 80% of its FY25 operating revenue, alongside sunglasses and contact lenses, sold through its own stores, franchise stores and online channels.
In FY26 it reported revenue from operations of Rs 8,814 crore and profit after tax of Rs 500.95 crore, with 3,327 stores worldwide on 31 March 2026.
