Online eyewear retailer Lenskart, which claims to be the largest in the country in terms of daily items shipped, plans to expand by opening 1,000 brick-and mortar shops through the franchise model. These shops, which will also enable delivery, service and return of products ordered online, will enable the company to expand quickly while remaining asset light, CEO Peyush Bansal told ET.
According to Bansal, the eyewear category is highly fragmented and dominated by small neighbourhood stores. The online retailer ships close to 1,20,000 orders a month, which is “too high compared to the competitors”, he said. The Titan Company, which runs eyewear, watch and jewellery outlets, had 1,266 stores at the end of December. Reliance Retail operates India’s largest chain, with more than 3,000 stores in 371 cities. Lenskart, based in Faridabad, already operates 150 stores.