Lenskart invests USD 4 mn in eyewear brand John Jacobs

In a bid to fuel its expansion spree, Lenskart.com, a leading eyewear company has announced strategic investment of worth USD four million in affordable-premium eyewear brand John Jacobs.

Through this investment, the company envisions John Jacobs to be a USD 78 million plus brand by 2021.

Launched with an aim to secure a position in the affordable luxury segment, John Jacobs, has five standalone stores in Delhi, Gurugram and Bengaluru. The brand has clocked over Rs. 100 crore sales and plans to open 20 more outlets in Delhi, Gurugram, and Bengaluru, along with entering Mumbai in 2018.

"John Jacobs is a trendy designer eyewear brand, that is fast creating a name for representing top international styles at surprisingly affordable prices and that's their USP. With this strategic investment, we continue our mission of creating enthusiastically satisfied customers and providing great value for money to Indian consumers," said Peyush Bansal, founder and CEO, Lenskart.com.

Keeping in mind the requirements of its target audience, some of John Jacobs' existing outlets include one of a kind retail experiences, including a mini cafe, travel books, polaroid photo booths and props for an engaging consumer experience.

John Jacobs also retails through www.lenskart.com, Lenskart offline stores and services online orders from Australia, Philippines and the UK. The brand is now also readying itself to tap new geographies like the US and Canada to expand its presence globally.