Eyewear Startup Expands Manufacturing Capabilities with Landmark Investment in Fab City, Targeting Regional and Global Markets
BENGALURU: In a significant move that underscores the dynamism of India’s startup ecosystem, Lenskart, the rapidly growing eyewear company, has announced plans to establish its largest manufacturing facility in Telangana, with an investment of Rs 1,500 crore. The strategic investment signals the company’s ambitious expansion plans and commitment to scaling up domestic manufacturing capabilities.
The facility, set to be located at Fab City, represents a major strategic bet for Lenskart, which has been making waves in the eyewear industry with its innovative click-and-mortar business model. According to an announcement by Telangana IT Minister Duddilla Sridhar Babu, the new plant will not only cater to the Indian market but also position itself as an export hub for Southeast Asian and Middle Eastern markets.
The investment promises substantial economic benefits for Telangana, with the facility expected to generate approximately 2,100 direct jobs. This development comes at a time when Lenskart is riding a wave of significant investor confidence, with its valuation recently touching $5.6 billion—a 12% increase from previous valuations managed by Fidelity.Lenskart would be setting up the world’s largest eyewear manufacturing facility in Telangana with an investment of around Rs 1,500 crore,” Minister Babu highlighted on X (formerly Twitter). “The facility will produce eyewear, lenses, sunglasses, as well as accessories and other products catering to India, along with exports to other markets.
The move is particularly noteworthy given Lenskart’s recent fundraising activities. In June, the company raised $200 million in secondary investment from Singapore’s Temasek and Fidelity, underlining strong investor faith in its growth trajectory. The company has attracted nearly $1 billion in capital over the past two years, positioning it as a significant player in the global growth-stage financing landscape.
Peyush Bansal, Lenskart’s co-founder and CEO, who had initially sought land near Bengaluru for a mega factory, sees this expansion as a critical step in the company’s evolution. “Our goal is to not just sell eyewear, but to transform how eyewear is manufactured and delivered in India,” Bansal stated in a recent interview.
The strategic location at Fab City offers Lenskart multiple advantages. With already identified land and a quick handover process, the facility represents a testament to Telangana’s business-friendly policies. Interestingly, the project might also include an R&D plant, suggesting potential for technological innovation in the eyewear manufacturing space.
While the investment is significant for Telangana, it also sends a strong signal to the broader startup ecosystem about the potential for large-scale manufacturing investments in emerging technology and consumer sectors. Lenskart’s competitive landscape includes players like Titan Eyeplus, Specsmakers, and international brands like Warby Parker, making this facility a potential game-changer.
