Table of Contents
Lenskart’s business remains predominantly India-led across operational metrics, but its international markets contribute disproportionately to revenue and profitability.
- India accounts for 84% of units sold, 80% of customer accounts, and 76% of total stores.
- However, the international business contributes 39% of total revenue and 44% of product margins, highlighting stronger pricing power and premium mix outside India.
What It Means
- Higher ASP and margins abroad: While India drives volume, markets like Southeast Asia and the Middle East deliver significantly higher average selling prices (ASP) and margins due to premium positioning and lower discounting.
- Profit mix shift: The international segment’s 39% revenue share - with less than one-fourth of stores - points to operating leverage and scalability.
- Strategic diversification: As Lenskart expands its overseas presence, international operations could soon contribute ~50% of total profits, cushioning domestic cyclicality.
