KKR to invest $95 mn in eyewear firm Lenskart

Private equity firm KKR said it had decided to invest $95 million in Lenskart, an omni-channel eyewear retailer. The company on Monday signed a definitive agreement to invest in the eyewear firm, through a secondary stake acquisition. TPG Growth and TR Capital, which invested in Lenskart in 2014, will divest a portion of their holding in the firm. KKR will help Lenskart scale up operations in India and abroad. “More than 600 million people in India and 4.5 billion people globally need vision correction, but only a fraction of them use eyewear due to a lack of access, awareness and affordability issues,” said Peyush Bansal, CEO, Lenskart.

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