John Jacobs, Lenskart's eyewear brand, is aiming to clock Rs 500 crore in revenue by March 2021 as it strengthens its retail presence and expands the product portfolio. Currently, the brand has eight stores in Delhi, Pune and Bengaluru.
The brand will be opening six more stores in the next two months. It targets to set up about 50 stores by March 2021.
Manan Duggal, Business Head of John Jacobs, said, "John Jacobs has been witnessing strong growth, we expect to close this fiscal with a topline of Rs 180 crore. By March 2021, we expect our revenues to touch Rs 500 crore."
The brand's 40% of the sales are driven by online channels, while the rest come from offline stores.
In 2018, Lenskart said that it will be investing $4 million in John Jacobs to fuel its expansion plans.
"We are aggressively growing our presence both in online and offline. The brand is already retailing through Lenksart outlets (over 450 in more than 100 cities). The aim is to take the number of our own stores from 8 now to 50, by March 2021, covering all major metro cities. The store expansion will entail an investment of about Rs 10-15 crore," Duggal further stated.