Abhishek Gupta has been appointed as the Chief Financial Officer (CFO) for Lenskart. Prior to this, Gupta was the CFO at OYO for nine years. Mukti Hariharan, the previous CFO of lenskart stepped down from Lenskart in September to join Coca-Cola.
Considering Gupta’s LinkedIn post, he left OYO in March and joined Lenskart. And, as the CFO of the company, he will be focused on providing robust direction for long-term strategic planning and execution. This will be done by driving the financial strategy and strengthening corporate governance at Lenskart as per him.
Also to note, Lenskart has successfully raised nearly USD 20 million from its co-founders who include Peyush Bansal, Neha Bansal, Amit Choudhary, and Sumeet Kapahi.
Lenskart has reported that they are operating more than 2,500 stores with about 2,000 located in India. Furthermore, India accounts for nearly 60 percent of Lenskart’s revenue. If we speak of the remaining revenue, it is being generated from international operations across various countries including Singapore, Dubai, the US, and Southeast Asia.
Lenskart’s revenue from operations surged to Rs 3,788 crore for the fiscal year ending in March 2023. It witnessed an upsurge from Rs 1,502 crore in FY22. With this growth trajectory at hand, coupled with controlled expenditure, Lenskart has been reducing its losses by 37.3 percent; thereby bringing the loss down from Rs 102 crore in FY22 to Rs 64 crore in FY23.
