Targeting Rs 100 crore in revenue in the current fiscal, a three-fold increase over last year, eyewear e-tailer Lenskart.com is importing production and eye checkup machines from Italy and the US, respectively.
The online store has imported a lens cutting and fitting unit for $1 million from Italy and plans to import one every six months. The machine will not only help Lenskart increase its daily production by 1,000 units, but also reduce error margins in fitting glasses to frames from the present 7-10% to 1%.
The e-tailer, aiming to break even by FY15 end, has also imported a batch of 15 eye-checking equipment from the US. Priced at Rs 4 lakh each, these equipment are aimed at ironing out creases in eye checkup for babies.
“There are not many ways of getting babies' eyes checked. You can't even put their chin on the machines. These units are not only designed for elders, but also pediatrics. It will do a distant check, like taking a photo with a DSLR camera. The machines will land in the next two weeks,” said Peyush Bansal, CEO of Lenskart.com.
With nearly 70% revenues coming from the prescription glasses, Lenskart will focus on building an expansive network of franchise stores and service centres across the country and ramp up its home eye checkup service, besides investing in similar equipment and technology “to enhance quality of products”.
In a major push to its home eye checkup facility, Lenskart plans to rope in 500 optometrists in next two years, up from 35 at present. “We want to get to a level where an eye checkup can be done within four hours of booking. At present, it takes anything between two and seven days because of the high demand,” said Bansal, adding that at present, the facility is available in Mumbai, Delhi, Bangalore, Chennai, Hyderabad, Pune and Kolkata.
Tier II and III cities being another point of focus for Lenskart, the e-tailer plans to expand the number of its franchise-based brick-and-mortar stores from 22 at present to 60 by the fiscal end. The offline channel at present accounts for around one-tenth of Lenskart's revenues. “We want to create the market and own it,” Bansal added.