LENSKART RAISES $95 MN FROM KKR VIA SECONDARY STAKE SALE

NEW DELHI: Lenskart on Monday said global investment firm KKR will invest $95 million (about ₹695.8 crore) in the eyewear retailer via a secondary stake acquisition. As part of the transaction, existing investors—tpg Growth and TR Capital—will each divest a portion of their holding in Lenskart, a statement said. These entities had invested in Lenskart in late 2014.

Upon the completion of the transaction, KKR will look to leverage its experience working with leading technology and eyewear companies globally to support Lenskart in expanding its presence in India, scaling its growing operations overseas, and enhancing its digital offerings to augment customers’ virtual and omni-store experience, the statement said.

According to reports, KKR’S investment is part of a larger $300-million round. However, the firms did not comment on the report and if other investors have participated in the round.

KKR said it is making its investment from its Asian private equity fund.

Established in 2010, Lenskart serves over 7 million customers annually through its channels that spans online, mobile application, and 730 stores in 175 cities across the country.