Lenskart Q3FY26: Scale, AI Integration, and Store Expansion Drive Growth

Lenskart delivered a strong operational performance in Q3 FY26, driven by aggressive store expansion, rising consumer adoption, and deeper technology integration across its platform.

Store Expansion and Market Penetration Accelerate

The company added 169 new stores in India during the quarter, taking its total network to over 3,100 stores globally. Expansion remains broad-based, with Tier 2 and smaller cities outperforming, highlighting the early-stage penetration of organised eyewear retail across India.

Eye tests in India surged 60% year-on-year, with nearly 49% conducted for first-time users. This underscores Lenskart’s market-creation strategy rather than mere market share gains. Strong same-store sales growth was supported by:

• Higher store footfalls
• Improved conversion rates
• Rising adoption of premium lenses

The sustained growth in first-time users indicates expanding category awareness and a widening customer funnel.

Technology-Led Transformation Strengthens Moat

Q3 also reinforced Lenskart’s evolution from a traditional retailer to a technology-driven vision platform.

AI integration now spans multiple verticals:

• Remote optometry and eye testing
• Personalised product recommendations
• Store location intelligence
• CRM and customer lifecycle management
• Talent acquisition and workforce optimisation

Remote eye testing scaled rapidly, enabling expansion into underserved geographies without dependence on local optometrists — improving capital efficiency and scalability.

International operations are also showing improving operational leverage as supply chain integration deepens, indicating better margin discipline alongside growth.

Strategic Shift Toward Intelligent Wearables

A notable strategic highlight is the upcoming smart glasses launch, signalling Lenskart’s expansion beyond eyewear retail into the intelligent wearables ecosystem. This move could diversify revenue streams and position the company at the intersection of vision care and consumer technology.

The Bigger Picture

Q3 FY26 reflects:

• Structural scalability
• Expanding geographic reach
• Strong first-time customer acquisition
• Deepening AI-led operational integration
• Improving international leverage

Overall, the quarter underscores Lenskart’s transition into a scalable, tech-enabled consumer platform with a widening competitive moat.