On April 9, Lenskart CEO and Shark Tank India judge Peyush Bansal announced plans to set up a new ‘mega factory’ by purchasing 25 acres of land near Kempegowda International Airport in Bengaluru. This factory is intended to enhance the company’s manufacturing capabilities as part of its goal to serve a billion eyes worldwide by 2025.
“Lenskart is looking for 25 acres of land within 60 kms of Kempegowda Bengaluru International Airport to build its next Mega Factory. If any company is looking to sell factory land near the Bengaluru airport, please send an email to: megafactory@lenskart.in,” Bansal stated in a LinkedIn post.
Shortly after Bansal’s announcement, Karnataka’s Industries Minister MB Patil responded on X (formerly Twitter), assuring state support for Lenskart’s initiative, and emphasized Karnataka as an optimal location for the new manufacturing site.
“Karnataka is the place to be! @peyushbansal @Lenskart_com Industries Department is here to support you, and facilitate all your needs. Concerned officials will reach out, immediately,” Minister Patil posted on X.
In addition to his public endorsement, Minister Patil has directed state officials to extend full support to Lenskart in their new venture.
Amid these strategic expansions, there is speculation about Lenskart preparing for an Initial Public Offering (IPO). Navneet Govil, Managing Partner and Chief Financial Officer of SoftBank Vision Fund, which invests in Lenskart, suggested that while there is no immediate rush, an IPO would align with Lenskart’s broader expansion objectives.
Since its inception in 2008, Lenskart has become a major player in the eyewear market in India, operating 1,500 omnichannel stores across 175 cities and expanding its reach to international markets including Singapore and Dubai.
