Lenskart has turned bullish on Singapore at a time when the eyewear company has said it has become the largest eyewear company in the Southeast Asian country. The company is looking to double down on the region and strengthen its market leadership by offering two-hour deliveries in Singapore.
The company’s co-founder and CEO Peyush Bansal, while speaking to analysts on December 1, shortly after the company announced its Q2 results, said, “about one out of four people wear a Lenskart pair of glasses (in Singapore). The playbook is global. We are executing on this with discipline and speed.”
Outside India, Lenskart is present in Japan, some pockets of the Middle East, Europe and other regions. In all, about 40 percent of Lenskart’s revenues come from international markets. The Delhi NCR-based company reported revenue from operations of Rs 2,096 crore, up 21 percent year-on-year (YoY) from Rs 1,735.7 crore in the same period a year ago.
It had reported a revenue of Rs 1,894.5 crore in the previous quarter.
Lenskart reported an almost 20 percent year-on-year (YoY0 increase in its net profit to Rs 103.5 crore in the second quarter (Q2) of financial year 2025-26 (FY26), compared to Rs 86.3 crore in the same period a year ago. The company had posted a profit of Rs 61.2 crore in the previous quarter, according to regulatory filings.
The company expects its international business to grow further. “About 83 percent of the people in Singapore get myopic by the age of 18,” Bansal said while underscoring the growth potential. That number is at about 40 percent for India, its homeground.
Lenskart has also gained market share in the region because its prices are about a tenth lower than other brands on average.
“In Singapore, the average glasses for kids would cost $300-$400, but our starting price point for (the same category), for two pairs, including lenses is about $50. So, the delta is very wide…” CEO Bansal said.
Bansal added that margins, the money it makes on each sale, is at about 75 percent from international markets, about 11 percentage points higher than margins of about 63 percent in India.
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