Lenskart, the omnichannel eyewear unicorn, has signed a memorandum of understanding (MoU) with the Telangana government to set up the “world’s largest eyewear manufacturing facility” in the state, with a planned investment of approximately INR 1,500 crore. Telangana IT Minister Sridhar Baby Duddilla announced the signing on social media, expressing enthusiasm for the project.The new manufacturing unit will be located in Fab City, a special economic zone (SEZ) initially designed to promote the semiconductor industry. The land for the facility has already been identified and is expected to be handed over to Lenskart later this week. The facility will produce a wide range of products, including eyewear, lenses, sunglasses, and other accessories for both the Indian market and exports to Southeast Asia and the Middle East.
Duddilla highlighted that this new plant will create around 2,100 jobs and mentioned ongoing discussions about establishing a research and development (R&D) center at the site. This initiative comes nearly eight months after Lenskart co-founder Peyush Bansal indicated in April that the company was seeking land for a “megafactory” near Bengaluru.Lenskart’s push to scale its manufacturing capabilities is part of its strategy to strengthen its position in the eyewear value chain and reduce reliance on external suppliers. The company has raised nearly $850 million from investors in 2023 alone, with an additional $220 million secured from venture capital and private equity firms in 2024.
Founded in 2010 by Peyush Bansal, Amit Chaudhary, Ramneek Khurana, and Sumeet Kapahi, Lenskart operates over 2,000 stores in India and has expanded internationally with another 500 stores across regions including the UAE, Singapore, and Japan. The company has recently cut its losses significantly and reported a substantial increase in operating revenue.With this new facility in Telangana, Lenskart aims to further enhance its production capabilities while contributing to local employment and economic growth.
 with the Telangana government...){kind=link}