Lenskart: Building Omnichannel Eyewear Retail Through Digital-First Strategy

Anurag Lala
Dec 5, 2025
15 min read

Executive Summary

Lenskart, founded in 2010 by Peyush Bansal, Amit Chaudhary, and Sumeet Kapahi, emerged as one of India's leading omnichannel eyewear retailers through a strategy combining e-commerce operations, technology-enabled customer experience, and extensive physical retail expansion. While business media and startup literature frequently reference Lenskart as an example of "performance marketing" success and digital-first retail, comprehensive public documentation of specific marketing strategies, channel-wise performance metrics, customer acquisition economics, and attributable business outcomes remains extremely limited. This case examines verified information about Lenskart's business model evolution, funding trajectory, retail expansion, technology initiatives, and available market context, while explicitly identifying substantial gaps in publicly disclosed data regarding marketing effectiveness, operational metrics, and financial performance that prevent complete strategic validation.

Company Background & Founding

Origins and Founding Team

Lenskart was founded in 2010 in New Delhi by Peyush Bansal (CEO), Amit Chaudhary, and Sumeet Kapahi, according to multiple media reports in Economic Times, YourStory, Inc42, and other business publications.

According to founder interviews documented in YourStory (2014) and other startup-focused media, Peyush Bansal previously worked at Microsoft and Zansaar (a group-buying website) before founding Lenskart. The initial business concept focused on online eyewear sales, addressing perceived gaps in India's eyewear retail market including limited selection, high prices, and inconvenient purchasing processes.

Initial Business Model

Early media coverage (2010-2012) documented that Lenskart began as an online-first retailer selling eyeglasses, sunglasses, and contact lenses. According to statements by Peyush Bansal in various interviews reported in Inc42, TechCrunch India, and YourStory, the founding vision included:

Offering wider selection than typical optical retail stores
Providing transparent pricing, generally positioned below traditional optical chain pricing
Enabling home trial services (allowing customers to try frames before purchase)
Creating convenient online purchase and delivery experience

No verified financial data or operational metrics from the initial years (2010-2012) are available in public sources.

Market Context & Opportunity

India's Eyewear Market Characteristics

Industry reports and business media coverage provide context on India's eyewear market, though comprehensive market data varies across sources:

According to a report by Research and Markets cited in Economic Times (August 2022), India's eyewear market was estimated at approximately $7 billion in 2021, with projections suggesting growth to $16 billion by 2027

Multiple industry analyses noted that India had among the lowest per capita eyewear spending globally, despite high incidence of vision correction needs

The market was fragmented between organized retail chains (Titan Eye+, GKB Opticals, Lawrence & Mayo, etc.), independent optical stores, and informal vendors

Competitive Landscape

According to business media coverage throughout the 2010s, key competitors included:

Established Optical Chains: Titan Eye+ (part of Titan Company Limited), GKB Opticals, Lawrence & Mayo, and regional chains
International Brands: Luxottica brands (Ray-Ban, Oakley, etc.) distributed through various retail channels
E-commerce Entrants: Other online eyewear retailers and general e-commerce platforms (Amazon, Flipkart) selling eyewear
Independent Optical Stores: Thousands of unorganized optical shops across India

Market share data for eyewear retail in India is not systematically disclosed by companies or available through verified industry sources, making precise competitive positioning difficult to establish.

Consumer Behavior Context

Media reports and industry analyses during Lenskart's growth period noted several market characteristics:

Eyewear purchase traditionally required in-person visits for eye testing and frame selection

Consumer awareness about eye health and regular testing was lower in India compared to developed markets

Price sensitivity was significant, particularly beyond metropolitan areas

Trust in online purchasing for vision-correction products was limited initially (2010-2015 period)

These characteristics presented both challenges (overcoming trust barriers) and opportunities (addressing price and convenience gaps) for online-first models.

Business Model Evolution

E-commerce Foundation (2010-2013)

According to media coverage from this period, Lenskart initially operated primarily through its website, offering:

Online product catalog of frames, sunglasses, and contact lenses
Virtual try-on technology (mentioned in early media reports, though specific technology details not comprehensively documented)
Home trial program (shipping multiple frames for customer trial before purchase)
Prescription fulfillment through tie-ups with lens manufacturers

Specific operational metrics—order volumes, average order values, fulfillment costs, customer acquisition costs—from this period are not available in public sources.

Omnichannel Transition (2014 onwards)

Media reports from 2014-2015 documented Lenskart's strategic shift toward omnichannel retail, combining online presence with physical store expansion. According to statements by Peyush Bansal in interviews reported in Economic Times, YourStory, and other publications, rationale for physical retail included:

Eye testing requires physical infrastructure and trained optometrists
Frame fitting and styling guidance benefit from in-person consultation
Physical presence builds consumer trust, particularly for first-time customers
Offline stores provide service touchpoints for online purchases (returns, adjustments, complaints)

Manufacturing Integration

Business media reports from approximately 2016-2018 documented Lenskart's backward integration into manufacturing:

According to Economic Times (2018) and other reports, Lenskart established manufacturing facilities in India
A report in Business Standard (2019) mentioned manufacturing capacity for frames and lenses
Statements by company executives in media suggested cost advantage and quality control as integration rationale

Specific details regarding:

Manufacturing capacity and utilization
Proportion of products manufactured in-house vs. sourced externally
Cost savings achieved through integration
Quality metrics or defect rates

Funding History & Valuation

Investment Rounds

Based on reports in VCCircle, Inc42, Economic Times, Mint, and other business publications, Lenskart raised external funding across multiple rounds:

Early Stage (2011-2013): Initial funding from investors including IDG Ventures India and Unilazer Ventures (Ronnie Screwvala's fund), according to various media reports. Specific amounts vary across sources.
Series A through C (2013-2016): Multiple rounds involving investors including TPG Growth, IFC, Adveq, and others. Reported amounts varied across sources with inconsistent verification.
Series D (2019): According to VCCircle and Economic Times reports, Lenskart raised $275 million led by SoftBank Vision Fund, valuing the company at approximately $1.5 billion.
Series E (2021): Reports in Mint and Economic Times documented $220 million fundraise from SoftBank Vision Fund and others, with valuation reaching approximately $2.5 billion.
Series F (2022): According to business media coverage, Lenskart raised $500 million in primary and secondary transactions led by Abu Dhabi Investment Authority and ChrysCapital, valuing the company at $4.5 billion.
Subsequent Rounds (2023-2024): Various media reports documented additional fundraising, with valuation reportedly exceeding $5 billion by 2024, though exact amounts and investor details vary across sources.

Total Funding: Cumulative funding estimates vary across sources but generally range between $850 million to over $1 billion based on various business media compilations. Exact figures are difficult to verify comprehensively due to inconsistent reporting and potential unreported transactions.

Valuation Trajectory: From approximately $1.5 billion (2019) to $5+ billion (2024) based on media-reported fundraising rounds, representing substantial valuation growth, though private company valuations reflect investor assessments rather than market-tested values.

Retail Expansion Strategy

Store Network Growth

Media reports document aggressive physical retail expansion:

According to Economic Times (September 2023), Lenskart operated approximately 1,500 stores across India
A report in Business Standard (March 2024) mentioned over 1,700 stores
Earlier reports from 2019-2020 indicated store counts in the 400-600 range
This suggests approximately 3x store expansion between 2019-2024

Store Formats and Characteristics

Based on company materials reported in media and retail industry coverage:

Stores typically located in high-footfall commercial areas, shopping malls, and residential neighborhoods
Store formats include standalone locations and shop-in-shop formats in larger retail centers
Services offered include eye testing (with optometrists), frame selection with styling assistance, lens prescription fulfillment, adjustments, and repairs

Geographic Coverage

Media reports indicate:

Presence across tier-1, tier-2, and increasingly tier-3 cities
Concentration in major metros (Delhi NCR, Mumbai, Bangalore, Hyderabad, Chennai, Pune, Kolkata) according to retail mapping reports
Specific city-wise or region-wise store distribution data is not systematically published

Store Economics and Performance

No verified public information exists regarding:

Average store size (square footage)
Investment per store (setup costs)
Revenue per store or per square foot
Store-level profitability or payback periods
Comparative performance across locations or formats
Store closure rates or network optimization approach

Franchise vs. Company-Owned

Some media reports reference both company-owned and franchise models, but specific breakdown (number of franchises vs. owned stores, franchise terms, performance differences) is not comprehensively documented in public sources.

Technology & Product Innovation

Virtual Try-On and 3D Technology

Media reports and company statements documented in business publications reference various technology initiatives:

3D Try-On: Virtual try-on functionality enabling customers to visualize frames on their face using smartphone cameras or uploaded photos, mentioned across multiple media reports from 2015 onwards

AI-Powered Recommendations: References to artificial intelligence for frame recommendations based on face shape and style preferences appear in some reports

Prescription Digitization: Technology for digitizing and managing customer prescriptions

Specific Technology Details Unavailable:

Underlying technology platforms and development (proprietary vs. third-party solutions)
Technology development investment levels
User adoption rates or conversion impact of virtual try-on
Accuracy metrics for AI recommendations or virtual try-on
Comparative analysis versus competitors' technology offerings

Home Eye Testing Services

According to media coverage during COVID-19 pandemic (2020-2021), Lenskart launched home eye testing services using portable equipment. Specific details regarding:

Service availability (geographic coverage, appointment volumes)
Pricing and economics
Customer adoption and satisfaction
Continuation post-pandemic

Mobile Application

Media reports reference Lenskart's mobile app for iOS and Android platforms, enabling:

Product browsing and purchase
Virtual try-on functionality
Appointment booking
Order tracking

However, verified data regarding:

App download numbers and active user base
App vs. website contribution to transactions
App-specific features and performance
User ratings and satisfaction metrics

International Expansion

Geographic Markets

According to business media reports from 2018-2024, Lenskart expanded internationally to:

Singapore: Multiple stores opened, according to reports in Business Times Singapore and Economic Times

UAE: Retail presence established, documented in Gulf News and business media

Southeast Asia: References to expansion in countries including Philippines, Thailand, according to various reports

United States: Some media coverage mentioned U.S. market entry plans or initial presence

International Strategy and Performance

Limited verified information exists regarding:

Total international store count by country
International revenue contribution to overall business
Market entry strategies (acquisitions, organic expansion, partnerships)
Performance relative to India operations
Localization approaches for different markets

Acquisitions

Media reports documented certain acquisitions supporting international expansion:

According to Economic Times and Nikkei Asia (2019), Lenskart acquired majority stake in Owndays, a Japanese eyewear chain with presence in Southeast Asia
Other acquisition reports appear occasionally but comprehensive M&A history is not systematically documented

Acquisition terms (deal values, strategic rationale, integration outcomes, performance post-acquisition) are not comprehensively disclosed in public sources.

Marketing & Customer Acquisition Strategy

"Performance Marketing" References in Media

Business media articles and startup ecosystem discussions frequently characterize Lenskart as leveraging "performance marketing" for growth. However, specific details about marketing strategies and performance are extremely limited in public sources.

Observable Marketing Channels

Based on general media coverage and industry analysis:

Digital Advertising: References to search engine marketing (Google Ads), social media advertising (Facebook, Instagram), and display advertising appear in general discussions, but specific strategies, budgets, or performance are not disclosed
Television Advertising: Media reports from 2019 onwards document TV commercial campaigns, including celebrity endorsements (some reports mention brand ambassadors), though campaign budgets and effectiveness are not published
Influencer Marketing: General references to influencer partnerships appear in marketing trade publications, without specific influencer names, compensation structures, or performance metrics
Affiliate Marketing: Some discussions suggest affiliate programs, but program details and contribution are not documented
Content Marketing: Blog content, social media presence, and educational content referenced generally, without engagement or conversion metrics

Critical Marketing Data Unavailable:

The following information essential for understanding "performance marketing" effectiveness is not available through verified public sources:

Marketing budget (total spend, year-over-year trends)
Channel allocation (spending distribution across digital, TV, outdoor, etc.)
Customer acquisition cost (CAC) by channel or overall
Conversion rates (website visitors to customers, app downloads to purchases)
Return on ad spend (ROAS) by channel
Attribution methodology and models used
Cohort analysis or customer lifetime value (LTV)
Organic vs. paid traffic proportions
Search engine optimization (SEO) performance and rankings
Email marketing performance (list size, open rates, conversion)
Retention marketing tactics and effectiveness
Referral program details and performance

Celebrity Endorsements and Brand Ambassadors

Some media reports mention celebrity associations:

References to Bollywood actors or sports personalities as brand ambassadors appear occasionally
Specific names, contract terms, campaign performance, or brand impact are not comprehensively documented

Promotional Strategies

General references to promotional activities include:

Discounts and offers during festive seasons or sale events
First-purchase discounts
Referral incentives

However, specific promotional mechanics, frequency, discount depths, or impact on sales and profitability are not disclosed publicly.

Financial Performance

Revenue Estimates

As a private company, Lenskart does not publicly disclose comprehensive financial statements. Available revenue information is fragmentary and based on media reports:

According to Inc42 (2022) citing unnamed sources, Lenskart's revenue was approximately ₹2,500 crore for FY2021-22

Economic Times (2023) cited estimates suggesting revenue around ₹3,000-3,500 crore for FY2022-23

Various reports have mentioned revenue growth rates in "double digits" or "high growth," without specific percentages

Critical Revenue Data Gaps:

Audited financial statements are not publicly available
Revenue breakdown by channel (online vs. offline)
Revenue contribution by product category (prescription eyewear, sunglasses, contact lenses)
Geographic revenue distribution (India vs. international)
Year-over-year growth rates for multiple consecutive years
Average order value trends

Profitability Status

No verified information is publicly available regarding:

Net profit or loss (current or historical)
EBITDA or operating profit margins
Path to profitability or timeline
Unit economics (contribution margin per transaction)
Gross margins by product category

Media reports occasionally reference "profitability" goals or targets mentioned by company executives, but actual financial performance is not disclosed.

Operational Metrics

Limited operational data is available:

Some media reports cite "millions of customers served" or "thousands of eye tests conducted," but specific numbers vary and verification methodology is unclear

Transaction volumes, repeat purchase rates, customer retention metrics are not publicly disclosed

Inventory turnover, supply chain efficiency, or operational leverage indicators are not available

Competitive Positioning

Claimed Market Position

According to statements by Lenskart executives reported in business media, the company has described itself as India's "largest" or "leading" eyewear retailer by various metrics (store count, revenue, customer base). However, comprehensive market share data and competitive benchmarking are not available through verified sources.

Comparative Analysis Limitations

Rigorous competitive positioning assessment requires:

Market share data across competitors (Lenskart, Titan Eye+, GKB Opticals, others)
Revenue and profitability comparisons
Store productivity metrics across chains
Customer satisfaction and brand preference data
Pricing comparison across similar products
Technology adoption and innovation pace comparison

None of this comparative data is systematically available in public sources, preventing evidence-based competitive positioning validation.

Differentiation Claims

Based on company communications reported in media, stated differentiation elements include:

Omnichannel experience combining online and offline
Technology-enabled customer experience (virtual try-on, etc.)
Wide product selection (frames, brands, price points)
Value pricing relative to traditional optical chains
Convenience (home trial, home eye testing)

Whether these elements create meaningful competitive advantage—measured through superior customer acquisition, retention, pricing power, or profitability—cannot be verified without comparative performance data.

Strategic Challenges & Risks

Documented Challenges

Business media coverage has referenced various operational and strategic challenges:

Capital Intensity: Retail expansion requires significant capital for store setup, inventory, and working capital, regularly noted in funding announcement coverage
Operational Complexity: Managing inventory across 1,500+ stores, prescription fulfillment, eye testing quality control, and omnichannel integration creates operational challenges mentioned in industry analyses
Customer Trust: Vision correction products require consumer confidence in accuracy and quality, particularly for online purchases, noted in early media coverage as adoption barrier
Competition: Established optical chains expanding e-commerce, online entrants, and international brands increasing India presence create competitive pressure documented in industry reports
Regulatory Environment: Eye testing by qualified optometrists, prescription regulations, and healthcare aspects create regulatory complexity mentioned in some industry analyses

Unverified Risk Areas:

The following risk factors are theoretically relevant but not documented with specific evidence for Lenskart:

Customer acquisition cost escalation in competitive digital advertising environment
Profitability challenges if unit economics remain unfavorable at scale
Technology investment requirements to maintain competitive positioning
Supply chain disruptions or quality control failures
Management execution risks in rapid scaling
International expansion execution complexity

Limitations of Available Information

Critical Information Gaps

This case analysis faces severe constraints due to unavailable verified data:

1. Marketing Strategy & Performance

Marketing budget and allocation by channel
Customer acquisition cost (CAC) overall and by channel
Conversion rates across marketing funnel
Return on ad spend (ROAS) by channel
Attribution methodology and multi-touch analysis
Organic vs. paid traffic contribution
Retention marketing effectiveness
Referral program mechanics and performance
Content marketing engagement and conversion
Influencer marketing specific campaigns and ROI
Television advertising reach, frequency, and impact
Brand awareness and consideration tracking
Marketing efficiency evolution over time

2. Financial Performance

Comprehensive audited financial statements (P&L, balance sheet, cash flow)
Revenue by channel (online vs. offline breakdown)
Revenue by product category (frames, sunglasses, lenses, contacts)
Profitability status (net income, EBITDA)
Gross margins and contribution margins
Operating expenses breakdown
Unit economics (contribution per transaction, payback periods)
Working capital requirements and management
Cash burn rate and runway
Debt structure and cost of capital

3. Operational Metrics

Transaction volumes and trends
Average order value (AOV) and trends
Customer acquisition numbers and rates
Customer retention and repeat purchase rates
Active customer base size
Website and app traffic statistics
Conversion rates (visitors to customers)
Prescription fulfillment accuracy and timelines
Eye testing volume and quality metrics
Store productivity (sales per store, per square foot)
Inventory turnover and management efficiency
Customer satisfaction scores (NPS, CSAT, etc.)

4. Technology Performance

Virtual try-on usage rates and conversion impact
AI recommendation accuracy and adoption
Technology development investment levels
App download and active user metrics
Technology platform architecture and capabilities
Mobile vs. desktop traffic and conversion
Technology competitive benchmarking

5. Competitive Intelligence

Market share (verified, not estimated)
Competitive revenue and profitability comparison
Customer preference and brand equity studies
Pricing comparison across equivalent products
Store productivity benchmarking
Marketing efficiency comparison
Technology adoption and effectiveness comparison
Customer acquisition and retention comparison

6. Strategic Execution Details

Store site selection methodology and criteria
Franchise vs. company-owned mix and rationale
International market entry decision framework
Acquisition strategy and integration outcomes
Manufacturing integration scale and economics
Organizational structure and talent strategy
Strategic planning and decision-making processes

Implications for Case Analysis:

These information limitations mean this case cannot:

Validate "performance marketing" effectiveness or superiority
Assess return on marketing investment or efficiency
Confirm business model sustainability or profitability
Evaluate omnichannel integration success quantitatively
Compare Lenskart's performance against competitors objectively
Determine which strategic elements drive success vs. accompany growth
Provide evidence-based recommendations for strategy optimization
Calculate valuation reasonableness relative to fundamentals

The analysis is therefore limited to documenting observable strategies, publicly stated approaches, funding history, and general market context rather than performance validation.

Theoretical Strategic Observations

Given severe data limitations, observations must be framed as theoretical rather than validated conclusions:

Observation 1: Omnichannel Integration Addresses Category-Specific Purchase Barriers

Eyewear purchasing traditionally involves:

Professional eye examination
Physical frame fitting and comfort assessment
Face shape and style consultation
Prescription lens accuracy verification

Lenskart's combination of online convenience (browsing, pricing, home trial) with physical infrastructure (eye testing, fitting, immediate service) theoretically addresses these requirements more comprehensively than pure-play online or traditional optical chains.

Theoretical Logic:

Online channels provide selection breadth, price transparency, and convenience for research and purchase
Physical stores enable eye testing, professional consultation, and trust-building
Integration creates seamless customer journey (test offline, purchase online, or vice versa)

Validation Requirement: Without customer journey analytics, conversion funnel data, or customer satisfaction comparison between omnichannel vs. single-channel experiences, this theoretical advantage remains unverified. High retail expansion pace (1,500+ stores) suggests management believes physical presence drives value, but actual return on retail investment is undisclosed.

Observation 2: First-Mover Advantage in Online Eyewear Created Market Development Opportunity

Lenskart entered online eyewear retail in India relatively early (2010), when e-commerce penetration was limited and consumer trust in online health-related purchases was low.

Theoretical Advantages:

Early learning in online eyewear customer acquisition and conversion
Brand awareness building before major competition entered
Customer data accumulation for targeting and personalization
Distribution network establishment ahead of competitors

Theoretical Risks:

First-mover disadvantages if category adoption slower than expected (capital consumption while educating market)
Fast-follower advantages if later entrants learn from pioneer's mistakes
Technological obsolescence if early technology choices prove suboptimal

Evidence Base: Lenskart's sustained market presence and fundraising success suggest avoiding fatal first-mover mistakes, but whether early entry created lasting competitive advantage or merely temporal leadership cannot be determined without market share trends and profitability comparison versus later entrants.

Observation 3: Backward Integration into Manufacturing Offers Cost and Quality Control Potential

Media reports documented Lenskart's manufacturing capability development. Theoretical benefits include:

Cost Advantages:

Elimination of manufacturer margins
Volume-based economies of scale
Reduced dependency on external suppliers

Quality Control:

Direct oversight of production processes
Faster quality issue resolution
Customization capability

Strategic Flexibility:

Product innovation freedom
Faster time-to-market for new designs

Counterbalancing Challenges:

Capital intensity of manufacturing infrastructure
Fixed cost structure reducing flexibility
Complexity of manufacturing operations alongside retail
Distraction from core retail competencies

Validation Requirement: Without disclosed manufacturing capacity utilization, cost comparisons versus external sourcing, defect rates, or profitability analysis, the actual benefits realized through integration cannot be assessed. The strategy's existence (documented in media) does not validate its economic superiority.

Observation 4: Valuation Growth Reflects Investor Confidence but Not Validated Performance

Lenskart's valuation increased from approximately $1.5 billion (2019) to $5+ billion (2024) based on successive funding rounds.

Interpretation Considerations:

Private company valuations reflect investor assessments and negotiated terms, not market-tested prices
Valuation growth indicates investor confidence in growth potential, market opportunity, and management execution
Valuations may incorporate expectations of future profitability rather than current financial performance
Valuation increases during generally favorable venture capital environments (2020-2022) may reflect market conditions not company-specific performance

Critical Distinction: Valuation appreciation demonstrates successful capital raising and investor conviction. It does not validate:

Current profitability or unit economics
Marketing strategy effectiveness
Sustainable competitive advantage
Justifiable returns for investors at these valuations

Observation 5: Retail Expansion Pace Suggests Confidence in Store Economics

Expansion from ~400-600 stores (2019) to 1,500+ stores (2023) represents aggressive retail growth requiring substantial capital.

Inference: Management and investors presumably believe store-level economics justify expansion investment, as continuing losses at store level would likely trigger strategy adjustment.

Alternative Explanations:

Expansion prioritizes market share capture over near-term profitability
Retail presence builds brand awareness and e-commerce customer acquisition
Long-term breakeven or profitability expected with maturation and scale

Validation Requirement: Without store-level P&L data, payback period analysis, or profitability by vintage cohort, the economic rationale and success of retail expansion cannot be validated. Expansion pace alone does not confirm positive unit economics.

Observation 6: Technology Investments Target Friction Reduction in Online Purchase Journey

Virtual try-on, AI recommendations, and prescription management tools theoretically address barriers to online eyewear purchase:

Uncertainty about frame appearance on one's face
Style selection difficulty without professional guidance
Prescription management complexity

Theoretical Benefits:

Increased conversion rates by reducing purchase hesitation
Improved customer satisfaction through better fit between expectations and reality
Differentiation versus competitors with less sophisticated technology

Measurement Challenge: Without A/B testing results, conversion lift attributable to technology features, or comparative analysis versus competitors, the actual impact on customer behavior and business outcomes is unverified. Technology existence and marketing communication about technology do not demonstrate effectiveness.

Conclusion

Lenskart represents a frequently cited example of omnichannel retail strategy and "performance marketing" execution in India's consumer sector, having scaled from startup origins (2010) to a retail network of 1,500+ stores, international presence, and $5+ billion valuation (2024) through multiple funding rounds. The company's documented strategic approach includes:

Digital-First Origins: Beginning as online eyewear retailer addressing selection, price, and convenience gaps
Omnichannel Transition: Adding extensive physical retail infrastructure for eye testing, fitting, and customer service
Technology Investment: Developing virtual try-on, AI recommendations, and digital customer experience tools
Backward Integration: Building manufacturing capabilities for frames and lenses
Rapid Expansion: Aggressive store network growth and international market entry
Sustained Fundraising: Multiple investment rounds from prominent investors supporting growth capital needs

However, this case reveals critical limitations in learning from companies that do not disclose comprehensive performance data. Despite Lenskart's frequent citation as a "performance marketing" success story in business media and startup ecosystem discussions, virtually no verified performance metrics are publicly available regarding:

Marketing channel effectiveness, attribution, or ROI
Customer acquisition costs and lifetime value
Conversion rates across customer journey
Store-level economics and profitability
Overall financial performance (revenue growth rates, profitability)
Competitive positioning with verified market share data