Lenskart vs Titan EyeCare: Comparing Growth, Profitability, and Market Reach Ahead of IPO

Lenskart’s much-awaited IPO, set for October 31, has caught investors’ attention as the eyewear giant competes with Titan EyeCare, a division of Titan Company Ltd. 

Company Structure

Lenskart operates as an independent eyewear retailer with a vertically integrated, omnichannel business model. It combines strong offline expansion with a growing online presence in India and abroad.

Titan EyeCare, on the other hand, is part of Titan Company Ltd under the Tata Group. While smaller in size, it benefits from Titan’s brand trust, retail network, and strong corporate governance.

Profitability and Financial Strength

Lenskart turned profitable in FY25 after years of heavy investment, reporting a PAT of ₹297 crore. 

Titan EyeCare earned ₹796 crore in FY25 revenue and ₹85 crore EBIT, with a 10.7% margin. In Q1FY26, revenue rose 13% to ₹238 crore, but margins narrowed to 8.4%. While Lenskart’s margins are improving, Titan EyeCare maintains better profitability on a smaller scale.

Business Focus

Lenskart’s business revolves solely around eyewear and optical technology, allowing it to scale faster and innovate more aggressively.

In contrast, Titan’s eyewear business contributes less than 5% to its overall revenue, with its main strength coming from jewellery and watches. Hence, eyewear gets a lower strategic focus within Titan’s diversified portfolio.

Store Count and Market Presence

Lenskart operates 2,806 stores globally, 2,137 in India and 669 overseas, including locations in Japan and Thailand, offering remote eye testing.

Titan Eye+ has around 900 stores in India across 350 cities and plans to cross 1,000 outlets soon, expanding into international markets as well.

Brand Portfolio

Lenskart owns several in-house brands like John Jacobs, Vincent Chase, and Hustlr, and also manages international eyewear label Owndays across 14 countries.

Titan Eye+ retails both its proprietary and global brands, including Fastrack, Ray-Ban, Oakley, and Titan EyeX smart glasses, catering to various consumer needs.

Also Read: Lenskart Solutions Set to Launch ₹7,278 Crore IPO on October 31: What You Need to Know!

Conclusion

Both Lenskart and Titan EyeCare have transformed India’s eyewear market into an organised, aspirational sector. Lenskart stands out for its innovation and expansion, while Titan EyeCare offers dependable performance under a trusted brand. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

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