Lenskart achieves INR 3,788 Cr in sales for FY23, a remarkable 152% increase from the previous fiscal year.
Eyewear Dominance:
Eyewear Dominance:
Eyewear products contribute to 95% of total revenue, with revenue from this segment soaring by 154.6% to INR 3,609.8 Cr.
Company Background:
Company Background:
Founded in 2010, Lenskart emerges as a leading eyewear retailer, serving customers online and offline, with a loyal customer base of 20 million in India.
Financial Performance:
Financial Performance:
Overall revenue reaches INR 3,927.9 Cr, with a significant surge of 142.7% compared to the previous fiscal year.
Reduction in Net Loss and Expenses:
Reduction in Net Loss and Expenses:
Net loss decreases by 38% to INR 63.7 Cr, while total expenses increase by 133% to INR 4,025 Cr, notably in procurement and employee benefits.
Advertising Investment:
Advertising Investment:
Lenskart invests INR 293.8 Cr in advertising in FY23, reflecting a commitment to brand visibility and market presence.
EBITDA Growth:
EBITDA Growth:
Earnings before interest, tax, depreciation, and amortization (EBITDA) rise substantially to INR 403.7 Cr, leading to an expansion in the EBITDA margin to 10.6%.
Funding and Valuation:
Funding and Valuation:
Secures $600 Mn funding from Chrys Capital and ADIA, with discussions ongoing for additional funding from Temasek and Fidelity, potentially valuing the startup at $5 Bn.
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