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Lenskart targets 1000+ stores in next 2 years

By Satarupa Chakraborty | August 29, 2018

The 450-store strong optics brand Lenskart is poised to start their expansion in airport space soon. Having recently launched their new concept at Mall of India, Noida, the brand is targeting 1000 stores in the next 2 years. Peyush Bansal, CEO & Founder, Lenskart, speaks to Retail4Growth on store sizes and in-store tech integration.

Could you tell us about your brand John Jacobs, in terms of its positioning and expansion strategy?

John Jacobs is our premium brand and we will expand only in metros. While we target 1000 stores for Lenskart in next 3 years, we are looking at 100 stores of John Jacobs in the same window period.

Lenskart has always been in news for fast expansion. What’s your strategy?

We started this year with 370 stores and we already have 450 stores. This means that we are opening at least 10-12 stores every month. I think that our in-house technology is really helping us to do the overall size identification, property collection and executions much faster.

Tell us about your typical store sizes and design. Have you updated it lately?

To make our optical business at par with fashion environment, we have recently opened stores of 1000-2000 sq ft sizes. Though this kind of size is uncommon in optical business, the format is springing a surprise. Our larger stores are giving us even more sales per square feet.

As for in-store tech integration, we already had virtual try-ons, ipad POSs and other omni-channel interfaces already, but we have recently started self-trial kiosks in our new Mall of India outlet in Noida. We have also introduced tech interface to recommend style and options.

 

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