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Indian Express
7 days ago
- Business
- Indian Express
Lenskart's IPO in-sight: What it reveals about optometrists, screen time, and global bets
Too much screen time, too few optometrists, and one company going global – Lenskart's IPO filing reveals more than just financials. The eyewear unicorn, which clocked Rs 6,653 crore in revenue in 2024-25 (FY25) and turned profitable (Rs 297 crore) for the first time, is looking to raise Rs 2,150 crore through a fresh issue. Over 13 crore shares will also be offloaded via an offer for sale, with early investors such as SoftBank and Schroders Capital expected to cash out. But beyond the numbers, its draft red herring prospectus (DRHP) offers a lens into deeper trends shaping India's $10-billion eyewear market: worsening eye health among children, limited access to prescription eyewear, and the high-stakes balancing act of building a global brand from India. In India, the prevalence of refractive errors that cause blurry vision has grown rapidly among those under 19 years – from 21 per cent in FY20 to 39 per cent in FY25. For the overall population, the growth was relatively slower from 43 per cent to 53 per cent, according to Redseer research cited in Lenskart's DRHP. In the next five years, Redseer projects more than half (54 per cent) of children and teenagers will have refractive errors requiring prescription eyewear. 'Contributors include excessive screen time, particularly late-night smartphone use, prolonged near-work activities like reading and studying, limited exposure to natural light due to reduced outdoor play, and poor visual habits such as incorrect posture and inadequate lighting,' the DRHP said. The condition is more common in metro cities (64 per cent) than in tier-1 (59 per cent) or other cities (52 per cent). While India's overall prevalence (53 per cent) is lower than in Japan (68 per cent) and Southeast Asia (65 per cent), it still exceeds that of the Middle East (40 per cent) – and is expected to rise to 62 per cent by FY30. Though over half of Indians face refractive errors, only 35 per cent wore prescription eyewear in FY25, lagging Southeast Asia (40 per cent), the Middle East (60 per cent), and Japan (69 per cent). The penetration rate is expected to increase only slightly to 41 per cent by FY30, indicating that the market will remain heavily underserved, according to Redseer. Why? The World Council of Optometry (WCO) recommends 100 optometrists per million people, but India has just 35-50 such professionals trained to test vision and prescribe corrective lenses. In Japan, the figure stands at 80-100 per million, 110 in the US, and 200 in Singapore. Moreover, India has far fewer eyewear stores (60 per million people) compared to pharmacies (350-450) or jewellery stores (1,000-1,200). Over 70 per cent of prescription eyewear is still sold through unorganised channels, with just 11-13 per cent via D2C brands like Lenskart and Titan Eye+. 'We may face difficulties in finding, training and retaining qualified opticians and optometrists, especially in Tier 2 and 3 cities, where the availability and awareness of such professionals may be lower than in Tier 1 cities,' the DRHP said. Unlike most Indian-origin D2C brands, Lenskart has built a sizable overseas footprint, with international customers contributing 40 per cent of its FY25 revenue. The company operates over 2,000 stores in India, more than 250 each in Japan and Southeast Asia, around 40 in the Middle East, and another 100 across Taiwan, Hong Kong, and Australia. Its presence in Asia was bolstered by the 2022 acquisition of Japanese eyewear brand OWNDAYS. In 2024, Lenskart made a minority investment in French brand Le Petit Lunetier, launching its products in India. More recently, it acquired an 80 per cent stake in Spanish sunglasses label Meller. While Lenskart's global reach gives it access to higher-margin markets, it also heightens its exposure to supply chain risks – particularly due to its reliance on imports from China, where it holds a 51 per cent stake in a joint venture that manufactures frames. 'Rising nationalism, protectionist policies, or shifts in customer sentiment against products associated with Chinese supply chains could further reduce demand. If we are unable to address these risks, or adapt to evolving market conditions, our business, results of operations, and financial condition could be affected,' the DRHP said. In some good news, China's share in Lenskart's raw material imports has declined – from 54 per cent in FY23 to 42 per cent in FY25. Today, 98 per cent of its prescription eyewear is manufactured in Gurgaon and Bhiwadi, with the rest produced in Singapore and Dubai. A new Rs 1,500-crore greenfield facility for optical glasses near Hyderabad is also in the works. Aggam Walia is a Correspondent at The Indian Express, reporting on power, renewables, and mining. His work unpacks intricate ties between corporations, government, and policy, often relying on documents sourced via the RTI Act. Off the beat, he enjoys running through Delhi's parks and forests, walking to places, and cooking pasta. ... Read More
The Hindu
01-08-2025
- General
- The Hindu
Making room for pets
A home is no longer an oasis just for people. With the number of pets in Indian households growing sharply from 26 million in 2019 to 32 million in 2024 (according to a report by consulting firm Redseer), Indian homes are now being conceptualised, designed, or retrofitted to suit the personalities of all residents — fur babies included. With Gen Z and millennials choosing to be pet parents and seeking safe homes for them, we speak to a canine behaviourist, a canine nutritionist, and architects on what it takes to meet this unique brief — whether you're designing a home, buying a finished space, or renting one. Materials matter When Bengaluru-based Manssi Vedhya Karambelkar, canine nutritionist, holistic wellness practitioner and founder of Doggiliciouus, was looking to build a forever home, she was clear about what she wanted and, equally important, what she did not. 'Her brief to us was to design a sustainable space that would be not just a home for herself and her two pet dogs but also an office and production unit, with both areas to be well separated from each other. The physical and emotional needs of her pets – both rescues with anxiety issues – and the ease of maintenance were to be considered in every aspect of the design process,' says Rosie Paul, principal architect and co-founder at Masons Ink. Her team worked on the Brick Loft – a multi-storey home dreamed in brick, with large French windows, tall ceilings and repurposed heritage doors. The focus was firmly on choosing textured, natural and non-toxic materials, from construction to décor. Karambelkar adds, 'For my dogs, mud flooring is the most appropriate, but it's only possible to accommodate this if you're building a house, not moving into one. We also chose raw Kota stone and local, unpolished black Kadappa stone that offers texture for the dogs' footpads.' In terms of materiality, less is more, opines Mitali Salvi, a Mumbai-based canine behaviour therapist and trainer, who votes for simple solutions, especially for apartments. 'I suggest using thick gym mats or interlocking tiles over smooth marble flooring or glossy vitrified tiles. Ensuring your animals are groomed with short nails/claws is important, or else any discomfort with the flooring can affect their stance, and that leads to joint issues later on.' Salvi's quick tip for upholstery choices – use shades that match your animals' coats; that way when they shed and they will, it doesn't offer as much of a contrast. A thorough cleaning every day is also non-negotiable, she said. Safety is paramount Pet parents must be mindful when decorating, choosing sturdy rugs, and making accessible areas for the comfort of their pets. Chennai-based Sripriya Ganesan, architect, co-founder of Studio Neon Attic and proud mother of toy poodle Ralph, adds, 'Low pile, natural fibre rugs, fashioned from hemp, jute or even old Indian dhurries, are ideal. In terms of feeding and cleaning, create pullout drawers for the food and water bowls in the kitchen and make sure they are out of sight but within reach whenever hunger strikes. A shower faucet in the utility area is great for a quick rinse after your pet has been outdoors.' While not every home has a garden, pets still need to relieve themselves, and having a small emergency toilet area indoors works wonders if the dog does not get a walk outdoors, says Ganesan. 'Adding a strip of artificial turf on the balcony for your small breed dogs and having a well-ventilated space for the kitty litter is important. Make sure the balconies are safe as well. An invisible mesh is great to ensure animals don't fit in between vertical bars or try to jump.' The same safety concerns apply to stairwells and railings, where mesh or tightly wound ropes can keep smaller dogs from falling through. Safety or structural glass for external surfaces is recommended as well. 'Another concern is exposed wiring, especially if you have a curious puppy. It's best to keep them sheathed in pet-proof protector cords, easily available online,' says Salvi. Carefully considering furniture, paint and plant choices is crucial to creating an aesthetic and safe space for a mixed-species home. 'Like you would plan a nursery, organise your house with your pet's schedule and personality. Place a leash holder near the door, offer scratching surfaces for your cat and don't forget to create cozy nooks where they can hang out with you. For your sofas, choose natural fabric over PU-finished products, and while picking paint, make sure it has a low VOC score (volatile organic compound),' Ganesan said. Plants like aloe vera, lilies and pothos can be toxic to dogs, so it's best to check with a veterinarian before picking foliage, though Manssi assures, 'If your dogs are well fed and cared for, they won't go around any toxic plants.' Finally, whether adopting a pet or retrofitting a house, the important checklist for any interior designer or architect is always 'Accommodating the aesthetic sensibility, ease of maintenance and the comfort of both the human as well as the furry occupants of the home, at every stage and while choosing every detail,' Paul concludes. The freelance writer is based in Chennai.
News18
04-07-2025
- Health
- News18
Fit Or Just Fancy? The Blood Test Craze At Bengaluru Gyms
Bengaluru isn't just lifting weights anymore, it's decoding them. Welcome to the city's new fitness obsession: personal biometrics. At a gym in Indiranagar, Bengaluru, 34-year-old techie Karan Mehta wraps up his deadlifts and heads straight into a consultation booth. Not for a physio or dietitian – but for his quarterly blood check. Vitamin D, testosterone, lipid profile, cortisol – the full works. Across the city, in coworking spaces like HSR's health-focused hub or Koramangala's start up dens, it's not uncommon to overhear conversations about gut flora, sleep quality scores, or even ferritin levels. Bengaluru isn't just lifting weights anymore, it's decoding them. Welcome to the city's new fitness obsession: personal biometrics. From Reps to Reports: What's Driving the Blood Test Boom In a city that thrives on optimization of code, commute, and caffeine, health was the next logical target. But this isn't the regular annual check-up. These are diagnostics layered into lifestyle, with monthly or even fortnightly panels built into gym memberships and fitness programs. According to Redseer's 2024 wellness trends report, Bengaluru saw a 53% year-on-year rise in demand for personalized health assessments and diagnostics as part of fitness regimens the highest among Indian metros. The boom is driven by: What Kind of Tests Are People Getting? Not just sugar, thyroid, or cholesterol anymore. Here's what's trending in Bengaluru's fit circles: Full-Body Blood Panels For tracking inflammation (CRP), B12, iron, testosterone, estrogen, thyroid function, and more – especially among those doing weight training or following restrictive diets. Vitamin and Mineral Profiling To justify supplement stacks. Magnesium, D3, zinc, selenium – people want numbers before popping pills. Gut Microbiome Testing Yes, stool samples. To decode digestion, bloating, mental fog, and immunity linked to gut health. Cortisol & Stress Hormone Panels To understand fatigue, weight plateaus, or burnout. Many suspect 'adrenal fatigue" from lifestyle overload. Sleep Data Integration Through wearables like Whoop, Oura Ring, or Fitbit Premium combined with melatonin bloodwork. DNA-Based Fitness and Nutrition Reports Expensive, yes but some health studios now pitch DNA swab tests to personalize workouts and diets. Biohacking or Buzzword? What's Actually Useful We asked experts to decode what's gold and what's gimmick: Useful (if done right): Basic blood panels + thyroid/Vitamin D/B12: Most Indians are deficient and don't know it. Catching these can improve energy, mood, and recovery. Cortisol testing: Helpful for those who overtrain or experience chronic fatigue. Iron and ferritin: Especially for menstruating women, runners, and vegetarians. Glucose & HbA1c: Early diabetes detection is critical — even among 'fit" folks. Overkill (for most people): Microbiome tests: Still an evolving science. You'll likely get generic advice. Testosterone obsession: Unless clinically low, minor variations won't impact you dramatically. DNA kits: Interesting, but expensive. Most don't alter day-to-day decisions much yet. Dr. Anjana G, functional medicine specialist at a wellness clinic in JP Nagar, Bengaluru says: 'A blood test doesn't replace intuition. You shouldn't need a cortisol panel to know you're stressed. But yes, for those who are serious about long-term health, these can reveal blind spots." Are Labs Just the New Protein Shake Counter? Many gyms now have 'wellness partners" – tie-ups with diagnostic labs or health brands. What started as optional add-ons have now become upsells: A handsome monthly subscription fee includes fitness tracking and a quarterly health report. Some elite plans come with personal dashboards and health coach calls. Coworking spaces are offering 'wellness hackathons" – with prizes for best improvements in biomarkers. How This Affects You (Even If You're Not a Gym Rat) If you're the kind who thought walking 10k steps was enough, you're not wrong. But here's where this trend matters: More awareness means early diagnosis. Many folks caught silent thyroid issues or pre-diabetes early. Normalization of regular testing. That's a good public health shift. But also, pressure to be 'always optimizing'. Not everybody is a dashboard. What to Keep in Mind Before You Jump In Before you sign up for the 'Biohacker Platinum Plan", consider: Don't test randomly. Let a certified nutritionist, general physician or sports doc recommend what's needed. Look at trends, not one-off numbers. A single low reading doesn't mean deficiency. Be wary of fear-based upselling. 'You're not absorbing protein!" isn't always true it's a sales line. Data without context can cause anxiety especially if you're new to fitness As Dr. Anjana puts it: 'Just like you wouldn't check your bank balance ten times a day, don't obsess over biomarkers unless you're treating something specific." Bengaluru is Not Just Getting Fitter, It's Getting Quantified The future of fitness in the city isn't just about how you feel, it's about what the blood says, what the wearable tracks, and what the dashboard tells you to tweak. It's smart and futuristic. But it's also a little extra. Know your body and use data wisely. First Published: July 04, 2025, 13:21 IST
Time of India
03-07-2025
- Business
- Time of India
India's quick commerce booms in metros, but stays in slow lane in non-metros
Academy Empower your mind, elevate your skills India's quick-commerce sector is growing rapidly but struggles to scale profitably beyond metros, with non-metro areas contributing a mere 20% of gross merchandise value (GMV) due to lower demand, digital maturity, and local shopping habits, a report to market research firm Redseer, the Indian quick commerce industry grew by approximately 150% year-on-year during the first five months of 2025, fuelled by the rapid rollout of "dark stores," aggressive category expansion, and fierce despite this explosive growth and the presence of quick-commerce platforms in over 100 cities, non-metro cities (excluding the eight metros) contribute just over 20% of the sector's is starkly disproportionate to their 60-70% share of the overall retail market in India's top 100 cities, highlighting a significant untapped potential -- but also raising questions about the sector's ability to scale profitably in these per day per dark store drop sharply beyond the top 10-15 cities, falling below 1,000, and further below 700 in the next 20 the scale-up curve of a typical non-metro city (beyond the top 15) suggests that these cities tend to plateau out before the 1,000 OPD mark, reflective of weak demand, Redseer noted.A variety of factors contribute to this: many users in smaller cities have lower digital maturity and trust in online platforms, which limits how often they place orders and their comfort with digital density is lower in these areas, so there are simply fewer potential customers within each delivery preferences are highly specific, and the product selections offered by quick-commerce platforms often don't reflect these tastes, reducing their appeal to local strong local retail networks persist. Residents have long-standing relationships with local mom & pop store owners, who also facilitate home deliveries on credit in smaller cities is also a major hurdle. While the lack of demand maturity leads to lower average order values, the low demand city results in a larger delivery radius and higher delivery combined effect is that the breakeven dark store throughput in the smaller cities increases by 1.5-2x vs metros, making it highly challenging, Redseer challenges persist, there are bright spots. Student hubs like Prayagraj and Varanasi, and upscale cities such as Chandigarh, are showing robust demand for quick commerce."Quick commerce has unlocked incredible convenience in metros, but scaling it beyond demands more than just replication. Success in smaller cities will hinge on hyper-local strategies , deeper demand and supply understanding, and operational agility," Kushal Bhatnagar, Associate Partner at Redseer Strategy Consultants, to global management consulting firm Kearney, the quick commerce grocery market is expected to grow threefold between 2024 and 2027, reaching about Rs 1.5 lakh crore to 1.7 lakh crore.
Time of India
03-07-2025
- Business
- Time of India
Quick commerce divide: Metros lead as demand booms in top cities; small towns drag with just 20% share despite 150% growth
India's quick commerce industry is sprinting ahead in metros, but non-metro cities continue to trail behind, held back by weak demand, low digital adoption, and entrenched local shopping habits, according to a report by Redseer. Tired of too many ads? go ad free now The sector expanded nearly 150% year-on-year in the first five months of 2025, driven by aggressive rollout of dark stores, rapid category expansion, and intense competition. Yet, non-metros account for only a little over 20% of gross merchandise value (GMV), despite platforms having a presence in more than 100 cities, PTI reported. This share is significantly lower than their 60–70% contribution to the total retail market in the top 100 cities, highlighting both a large untapped opportunity and the difficulty of building a profitable business in these locations. Daily orders per dark store see a steep fall beyond the top 10–15 cities, dipping below 1,000 — and further under 700 in the next 20. According to Redseer, most non-metros tend to plateau before reaching 1,000 orders per day, underscoring sluggish demand in these markets. Challenges range from low digital literacy and trust in online platforms to sparse population densities and localised preferences that don't align with standard quick commerce offerings. Consumers in smaller cities often maintain strong relationships with local kirana stores that offer informal credit and free home delivery, reducing the incentive to shift online. Meanwhile, the cost of servicing these markets remains high, as lower order volumes force larger delivery radii and higher payouts. These dynamics push up the breakeven throughput for dark stores in smaller cities by 1.5 to 2 times compared to metros, Redseer said. Tired of too many ads? go ad free now Education hubs like Prayagraj and Varanasi, and affluent towns such as Chandigarh, are bucking the trend with encouraging demand. 'Quick commerce has unlocked incredible convenience in metros, but scaling it beyond demands more than just replication. Success in smaller cities will hinge on hyper-local strategies, deeper demand and supply understanding, and operational agility,' said Kushal Bhatnagar, Associate Partner at Redseer Strategy Consultants, the agency quoted. According to estimates by global consultancy Kearney, India's quick commerce grocery market is likely to triple in size from 2024 to 2027, reaching Rs 1.5–1.7 lakh crore.
