The company forayed into the Middle East market in the year 2021 with its first store in Dubai
New Delhi: Gurugram-based eyewear retail chain Lenskart has opened its third flagship store in Riyadh, Kingdom of Saudi Arabia, a social media post by a company official said on Thursday.
The eyewear retailer opened its first store in December 2023 at the View Mall followed by one at Salaam Mall, Alawali at the start of this month.
“Exciting News! Lenskart proudly announces the grand opening of its third store in Riyadh, KSA, nestled within the luxurious Park Avenue Mall! Unveiling the largest flagship store in the Middle East today. Join us in celebrating a vision clearer than ever, where style meets clarity,” said Mahmoud Elfeky, associate vice president retail, Lenskart in a LinkedIn post.
Lenskart forayed into the Middle East market in 2021 with its first store opening in Dubai, UAE. The company at that time committed an investment of around $50 million for the expansion in the UAE market, a company blog said.
IndiaRetailing had earlier reported that Lenskart in the year 2021 raised $220 million in funding led by Temasek & Falcon Edge Capital to expand its presence in India as well as to scale its operations in Southeast Asia and the Middle East.
Lenskart, established in 2010 by Peyush Bansal, a judge from the Indian television show Shark Tank, along with co-founders Amit Chaudhary and Sumeet Kapahi, has expanded its presence with over 1,100 stores in key cities like Delhi, Bengaluru, Mumbai, Ahmedabad, Chennai, and many more across India. The company’s online platform and retail outlets collectively showcase a collection of over 5,000 eyewear styles, according to the company website.
The company incorporates robotic techniques and adopts cutting-edge technologies within the eyewear market. Lenskart’s inception in India was driven by a vision to provide value-for-money products without the involvement of intermediaries.
