India’s eyewear titans: Ranking the top 5 chains

From legacy brands with deep-rooted histories to modern chains embracing technology and innovation, these companies are shaping the future of eyewear in India

Bengaluru: The eyewear industry in India has witnessed massive growth in recent years, driven by increasing awareness of eye health, fashion trends, and the rising demand for vision correction solutions. 

According to data analytics platform Custom Market Insights, Indian eyewear market was valued at $6,600 million in 2024 and is expected to reach $11,930 million by 2033, at a compound annual growth rate (CAGR) of 11.93% during the forecast period 2024 – 2033.

Listed here are the five largest eyewear brands (in terms of number of stores) highlighting their journey, offerings, and expansive reach. From legacy brands with deep-rooted histories to modern chains embracing technology and innovation, these companies are shaping the future of eyewear in India.

Lenskart

India’s largest eyewear retailer Lenskart was established in 2010 by Peyush Bansal, Amit Chaudhary, and Sumeet Kapahi as an online business. 

The company opened its first physical store in 2014 and launched home eye check-up services the following year. In 2017, Lenskart introduced its own eyewear brand John Jacobs and by 2021, it expanded internationally, entering Southeast Asia, starting with Singapore.

Offering over 6,000 styles of eyewear, including glasses, sunglasses, contact lenses, and accessories, Lenskart serves around 5 million customers and has 10 million app downloads as of April 2023. 

Customers can buy products from Lenskart’s website or app and visit its stores for eye tests, frame trials, and consultations. Currently, the omnichannel retailer has more than 2,500 stores worldwide, with approximately 2,000 located in India and the rest across Southeast Asia and the Middle East, according to media reports. 

Titan Eye+

Titan Eye+, the eyewear division of Tata Group-owned Titan Company, was established in March 2007. It offers a range of products, including eyeglasses, sunglasses, computer glasses, reading glasses, contact lenses, and accessories. 

The brand showcases thousands of styles from more than 40 brands, including Titan, Fastrack, Ray-Ban, Vogue, Oakley, Tommy Hilfiger, and luxury names like Cartier and Dior. In 2022, Titan Eye+ introduced its first smart eyewear, Titan EyeX, equipped with features like audio support and fitness tracking. 

The retailer has sold over one crore eyewear products to date, as per its official website.

Currently, the brand has over 900 exclusive stores in more than 350 cities. In the fiscal year (FY) 2024, Titan Eye+ achieved earnings of Rs 707 crore, and earnings before interest and taxes (EBIT) of Rs 85 crore, with a growth rate of 5%.

Himalaya Optical

Kolkata-based Himalaya Optical was founded in 1935 by the Binani family and opened its first store in Bowbazar in 1948.

The retailer specialises in primary eye care and a variety of eyewear solutions, including eyeglasses, contact lenses, prescription and premium sunglasses, eyewear accessories, home try-on options, and eye examination services.

It hosts nearly 70 Indian and global brands, featuring names such as Balenciaga, Dolce & Gabbana, Gucci, Prada, Versace, and Chopard, among others. As a legacy optical chain, the business has transitioned through four generations of the Binani family.

In 2017, Himalaya Optical celebrated the milestone of opening its 100th store in Bengaluru, and as of now, it operates over 140 stores across the country and employs approximately 400 individuals, as stated in its official website.

Lawrence & Mayo

147-year-old legacy brand Lawrence & Mayo is a wholly family-owned and operated business that was established in 1877 by the Lawrence and Mayo families, who were traditionally jewellers and watchmakers. Although the business began in London, the brand opened its first store in Kolkata in the same year.

In 1938, Lawrence & Mayo was incorporated as a Private Limited company under the Indian Companies Act (1913). It saw significant growth when I C Mendonca became the managing director in 1959, laying the groundwork for the expanding Lawrence & Mayo Group in India. In 1967, Mendonca acquired full ownership of the company, transforming it into a completely Indian enterprise. The business remains family-operated, with the fourth generation of the Mendonsa family actively involved in its operations.

Lawrence & Mayo offers a range of products, including frames, sunglasses, and contact lenses, and claims to be the first retailer to introduce contact lenses and computerised eye testing in India. 

Today, the chain operates over 113 stores across nearly 34 cities in India, including cities such as Mumbai, Bengaluru, Chennai, Kochi, Hyderabad, and Guwahati.

GKB Opticals

GKB Opticals was established in 1968 by Brijendra Kumar Gupta with its first retail store at Gariahat, Kolkata. 

The company offers a selection of eyeglasses, sunglasses, and contact lenses from over 60 international and Indian brands such as Maybach, Lindberg, Cartier, Mont Blanc, Silhouette, Emporio Armani, Hugo Boss, Jimmy Choo, Silhouette among others. It claims to have served more than one million customers.

Currently, the Kolkata-based, family-owned brand operates more than 90 stores across the country, offering personalised care through a team of over 600 trained professionals. Additionally, it provides a convenient home consultation service to cater to customer needs.

By the end of 2024, GKB Opticals plans to expand its footprint to 100 stores. Over the next three years, the company’s objective is to establish a fully integrated omni channel network, stated Priyanka Gupta, director – brands, GKB Opticals in a previous interaction.