Eyeglass manufacturing company Lenskart is going to build the world's largest eye wear manufacturing factory. The company is investing Rs 1,500 crore for this factory to be built in Telangana. This plant of Lenskart will generate approximately 2100 jobs.
Amit Chaudhary, co-founder of Lenskart, told today i.e. Sunday (December 8) that along with eyeglasses, lenses, sunglasses, accessories and other products will also be manufactured in this factory. From this manufacturing facility, Lenskart will also export products to South-East Asia and the Middle East.
Company said- We are impressed by the growth of Telangana
On December 8, the Revanth Reddy-led government signed this Memorandum of Understanding (MoU) with the company on completion of one year. In the program, Amit Chaudhary said that the company was exploring possibilities for this in many states. But he was greatly impressed by the growth of Telangana and has signed this deal with the government.
Lenskart made in 2010
In 2010, Piyush Bansal, founder of Lenskart, along with his friend from Kolkata, Ameet Chaudhary, planned to create a company that could change the habit of people of India not wearing glasses. He found another co-founder, Sumeet Kapahi, on LinkedIn. Sumeet had left his job in an eyewear company a few months ago.
Together, the three formed Value Technology in 2010, which had separate e-commerce websites. It had Lenskart, Jewelkart, Bagkart and Watchkart websites. After some time, seeing the potential in the spectacles market, all three started focusing only on Lenskart.
Automatic Manufacturing Unit
The company started the world's first automatic manufacturing unit in Bhiwadi, Rajasthan. At present the company has manufacturing units in Delhi, Gurugram as well as in Zhengzhou, China. The company is going to set up a new plant in Bengaluru at a cost of Rs 1600 crore. Production will start in the next 18 months.
Founders of Lenskart company, from left, Amit Chaudhary, Piyush Bansal and Sumit Kapahi.
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Read the full story of becoming Lenskart…
Mega Empire-47 thousand crore company built in 14 years: Piyush Bansal left Microsoft and started it; 3 things make it different
Lenskart has received the Startup of the Year award for its strong revenue growth and becoming a big brand in a short period of time. According to Economic Times, the market cap of Lenskart is more than Rs 47 thousand crores. It is estimated that by the end of financial year 2025, its revenue will cross Rs 8 thousand crores.
The story of Lenskart and its founder Piyush Bansal…
Graphics Source: VaskarAssets
