Fashion
India-based eyewear retailer Lenskart plans to open stores in Thailand and the Philippines to expand in Southeast Asia.
“We’re looking at opening 300 to 400 stores in southeast Asia in the next two years. Initially, we go slow, but we like to go deep,” Peyush Bansal, Lenskart cofounder and CEO said.
“We’ve been in Singapore for the last three years, and we are going to Thailand this year. After a year in Thailand, we’ll go to the Philippines.”
“There’s a lot to do in Asia now,” said Bansal. “In Singapore, we now have 70 stores. One in three people wear Lenskart glasses. It’s a smaller geography but the impact is bigger.”
He noted that the brand is considering opening stores in Indonesia and Malaysia.
In addition, the company is considering inorganic expansion opportunities as part of its regional expansion plans, following its acquisition of a majority stake in Japanese eyewear label Owndays last year.
