Lenskart Solutions Ltd. has tied up with Labubu maker Pop Mart to strengthen its global “House of Brands” strategy that also includes Barcelona’s Meller brand of sunglasses acquired earlier this year.
The ‘Pop Mart X Lenskart’ eyewear collection will launch in Singapore—online and in select stores—in the first week of December while the Meller sunglasses is now available across Lenskart’s online and offline stores in India, according to a statement on Monday.
“Our customers inspire every decision we make. They are seeking global design, individuality and brands that feel authentic,” Peyush Bansal, co-founder and chief executive at Lenskart Solutions, said in the statement. “By growing our portfolio with brands like John Jacobs, Owndays and now Meller, alongside tie-ups such as Pop Mart, our goal is to offer customers more choice and better experiences.”
“We see ourselves as an enabler for the next-generation of eyewear brands—providing the platform and capabilities for them to reach more people and unlock their potential.”
Lenskart’s ‘House of Brands’ strategy
Lenskart’s international footprint has become a significant part of its growth story, with about 40% of its total revenue now coming from overseas, according to its red-herring prospectus filed ahead of recently concluded IPO.
The company, which is already India’s largest organised eyewear retailer, has 656 stores across Southeast Asia, Middle East and the US.
At the same time, Lenskart is transforming into a global “house of brands” by acquiring and promoting international labels to cater to a global consumer base. That’s a deliberate, “alliance-building” strategy, focusing on acquiring or partnering with established local players rather than building from scratch. This helps them gain immediate market share and local expertise.
- In 2022, Lenskart acquired Japan’s Owndays to boost its presence in Japan and the Southeast Asian markets, so much so that Japan is now its second-largest market.
- Acquired in 2024, Spain’s Meller is a favourite of the Gen Z and Millennial population in Europe given its direct-to-consumer (D2C) origins. It’s a vital addition to Lenskart’s premium portfolio.
- In September 2023, Lenskart subsidiary Neso Brands invested $4 million for a “significant stake” in Paris’s Le Petit Lunetier to expand the brand’s retail footprint in Europe and introduce it in Southeast Asia.
Separately, Lenskart has interest in 6over6—an Israel-based startup focused on AI-powered optical technology, as well as Tokai and Rodenstock for lenstech.
The tie-up with Pop Mart is the next leg of this expansion.
The Lenskart story
Founded in 2008, Lenskart launched its online store in 2010 and opened its first offline store in 2013. Today, it’s the largest organised eyewear retailer in India, with international operations in Southeast Asia and the Middle East. The company recently listed on Dalal Street.
As of March, it operated 2,723 stores—across India and in markets such as the Middle East and Southeast Asia. Nearly 40% of its revenue now comes from outside India, underscoring its growing international footprint.
Lenskart now controls nearly every link in its value chain—from lens design and manufacturing to last-mile delivery. It employs 100s of ophthalmologists in Kolkata who provide remote eye consultations and is developing AI-based testing tools to reach smaller cities where eye care access remains limited.
Its next big bet is smart eyewear. A 70-member team is working on integrating features such as UPI, AI tools, cameras, and headphones.
“It’s tempting to go all in,” Bansal had said in an interview with Bloomberg News before the Lenskart IPO. “But timing matters.”
On Monday, Lenskart shares rose 5.50% to ₹431.60 apiece on the BSE even as the benchmark Sensex ended the day 0.46% higher at 84,950.95 points.