Lenskart Solutions to get INR 170 Crore Investment

India: India Based Click and Mortar, men and women eyewear company, Lenskart, is getting an investment of INR 170 crore from International Finance Corporation (IFC) for broadening their e-tailing portfolio and in return IFC will get a stake in the Lenskart Solution.

Lenskart Solutions, is constantly getting funds from investors for expanding their presence in both online e-tailing and physical retailing. Currently, Lenskart has 90 stores in India through franchise model in cities like Mumbai, Bangalore and Delhi.

According to TechSci Research, investment from IFC will help Lenskart Solutions to expand their presence in the Indian Market and at the same time will help them to add more products in their portfolio and will help them to achieve their plan of opening of 1000 brick and mortar shops in India via franchise model.

With domestic e-commerce market expected to witness a positive growth in coming years, the investment from IFC have come at the right time for lenskart as it will help them to increase their market share in the Indian e-commerce market owning to rise in Internet and Mobile users.

According to a recent report published by TechSci Research, “India E-commerce Market Forecast & Opportunities, 2020”, the country’s e-commerce market is projected to grow at a CAGR of more than 36% during 2015-2020. E-services segment, which comprises online travel, online payments, online classifieds, etc., is expected to continue its domination through 2020. However, the e-tail segment that includes electronics, apparels & accessories, health and personal care, etc., is expected to witness significantly higher market growth compared to e-services segment over the next five years.