lenskart plans to possess 460 stores merchandising four hundred,000 frames monthly by March 2018. It presently has regarding 365 stores. Photo: Pradeep Gaur/Mint
New Delhi: Eyewear distributor Lenksart denote associate eightieth sales growth in 2016-17 compared to a year past, company filings sourced from Tofler showed, when it managed to stay losses within the same vary because the previous year.
During the year, revenue rose to Rs179 large integer from the previous year’s Rs100 large integer, enlarged its offline footprint through franchise stores.
Sales from stores currently account for hour of the company’s overall sales, chief officer Peyush Bansal told Mint over a interview.
Net losses were Rs114 large integer against Rs113 large integer the previous year.
“The company is endlessly longing for avenues for future growth by increasing its footprint through wider franchisee network and making complete awareness through aggressive media campaigns,” same in its restrictive filings.
Bansal same plans to possess 460 stores merchandising four hundred,000 frames monthly by March 2018. It presently has regarding 365 stores.
Revenue from its core business—selling frames on-line and thru franchise stores—grew sixty nine to Rs160 large integer. This was assisted by alternative financial gain akin to Rs19.3 crore, up fourfold, “pertaining to interest financial gain, gain from mutual funds and exchange gain,” the corporate same.
In 2016-17, its expenditure was Rs294 large integer thirty eighth over the previous year. a lot of of this was spent on up its mobile app expertise, promoting and cost on the availability facet, Bansal same.
During the year, Lenskart bought a minority stake in an exceedingly US-based company Ditto, that created the virtual run feature widespread on Lenskart app.