Lenskart, one of India’s leading eyewear retailers, has appointed Abhishek Gupta as its new Chief Financial Officer (CFO). Gupta, who served as CFO at OYO for nearly nine years, will be stepping into the role following the departure of Mukti Hariharan, who left Lenskart in September to join Coca-Cola.
In a LinkedIn post, Gupta announced that he left OYO in March and officially took on his new role at Lenskart. As CFO, he is expected to lead long-term financial strategy and execution, focusing on enhancing the company’s financial performance and reinforcing corporate governance.
This appointment comes as Lenskart continues to expand and strengthen its financial position. Recently, the company raised nearly $20 million from its co-founders Peyush Bansal, Neha Bansal, Amit Choudhary, and Sumeet Kapahi.
Currently, Lenskart operates over 2,500 stores worldwide, with approximately 2,000 of them located in India. While India contributes around 60% of the company’s total revenue, its international business in regions such as Singapore, Dubai, the US, and Southeast Asia also plays a significant role in its financial growth.
For the fiscal year ending March 2023, Lenskart reported a revenue surge to Rs 3,788 crore, up from Rs 1,502 crore in FY22. Alongside this impressive revenue growth, the company also significantly reduced its losses by 37.3%, cutting them down to Rs 64 crore in FY23 from Rs 102 crore the previous year. With Gupta at the financial helm, Lenskart is expected to continue its upward trajectory while pursuing sustainable growth and profitability.
