{"id":23296,"date":"2023-06-16T14:17:59","date_gmt":"2023-06-16T14:17:59","guid":{"rendered":"https:\/\/www.meretailnews.com\/?p=23296"},"modified":"2023-06-16T14:18:18","modified_gmt":"2023-06-16T14:18:18","slug":"lenskart","status":"publish","type":"post","link":"https:\/\/www.meretailnews.com\/2023\/06\/16\/lenskart\/","title":{"rendered":"Lenskart bags $100 million from ChrysCapital\u00a0"},"content":{"rendered":"<p><!-- VideographyWP Plugin Message: Automatic video embedding prevented by plugin options. --><br \/>\n<span data-preserver-spaces=\"true\">India-based eyewear retailer <a href=\"https:\/\/www.meretailnews.com\/2022\/07\/01\/eyewear-retailer-lenskart-partners-with-noon\/\">Lenskart<\/a> has secured a $100 million investment from private equity firm ChrysCapital, raising the eyewear company\u2019s capital investment to approximately $850 million within the past year.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The company will use the investment for its further expansion in the Middle East and Asia.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Senior VP at ChrysCapital Advisors, Rajiv Batra, said: \u201cThis investment aligns with ChrysCapital\u2019s strategy of backing founders that are category creators and who leverage technology to offer an outstanding customer experience.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">ChrysCapital\u2019s capital infusion follows Abu Dhabi Investment Authority\u2019s investment of $500 million in Lenskart earlier this year, which increased the brand&#8217;s value to around $4 billion.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Founder and CEO of Lenskart, Peyush Bansal, said: \u201cAt Lenskart, we like to work with partners who have a long-term vision to create organisations that can consistently improve lives and make the world a better place.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cChrysCapital is one of the most esteemed Indian equity partners, and it is my privilege to have them by our side.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The brand operates eight outlets in the UAE, aiming to bring the total number of its locations in the region to 200 by 2024.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In July 2022, to reinforce its e-commerce operations, Lenskart partnered with the region\u2019s leading online shopping destination Noon.com.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Last year, the <a href=\"https:\/\/www.lenskart.com\/\" target=\"_blank\" rel=\"noopener\">company<\/a> acquired<\/span><span data-preserver-spaces=\"true\">\u00a0a majority stake in Japanese eyewear brand Owndays<\/span><span data-preserver-spaces=\"true\">\u00a0from L Catterton and Mitsui &amp; Co, to become one of the largest omnichannel retailers in Asia.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cWith the acquisition of Owndays, there is an opportunity for Lenskart to expand across more than 10 Asian countries in addition to the already large Indian market,\u201d added Mr Batra.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p> Eyewear retailer Lenskart has grabbed a $100 million investment from private equity firm ChrysCapital, raising the company\u2019s capital  to approximately $850 million within the past year<\/p>\n","protected":false},"author":40,"featured_media":17303,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[4182,3966],"_links":{"self":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/23296"}],"collection":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/comments?post=23296"}],"version-history":[{"count":2,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/23296\/revisions"}],"predecessor-version":[{"id":23298,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/23296\/revisions\/23298"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media\/17303"}],"wp:attachment":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media?parent=23296"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/categories?post=23296"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/tags?post=23296"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}