Eyeware retailer, Lenskart plans to invest over Rs 100 crore on business expansion, including opening of 400 stores, in next two years.
The company is aiming a total of 700 stores by March 2019 by targeting small towns, tier II and III cities.
Peyush Bansal, CEO, Lenskart said, "As of now we have 300 stores across India and in the next two years we plan to open another 400 stores."
According to Bansal, the company will be putting in capital primarily around building back-end supply chain, while franchises would invest in opening stores.
He said, "For us the total investment would run to around Rs 100 crore primarily to build supply chain, to be able to service all our stores and also train staff. It so far has received good response from the tier I cities and was looking to expand its footprints in small towns. "We have started entering some of these small cities. We have opened a store in Lucknow, one will soon be opened in Bareily."
He further added, "We would be spending close to Rs 140 crore in brand marketing and advertising over the next two years, apart from the back-end expenditure."