India's Lenskart acquires 80 percent stake in Spanish brand Meller for over 40 million euros

Lenskart, the innovative Indian eyewear company, has acquired an 80 percent stake in Meller, a digitally native sunglasses brand based in Barcelona. The deal, valued at over 40 million euros, marks Lenskart's first strategic move into the European market.

The acquisition was announced in a filing with the Securities and Exchange Board of India. According to The Times of India, the transaction involves payments of 406 million rupees (4.5 million euros), distributed between Meller's investors and its three founders—Sergi Benet, Borja Nadal, and Marco Grandi.

Meller, founded in 2014, has built a successful digital-first model, with 96 percent of its sales occurring online. The brand has cultivated a strong following among younger consumers, amassing over 650,000 followers on Instagram and generating more than 25 million daily impressions. In 2024, Meller reported revenues of 28.3 million euros and an EBITDA of 5.8 million euros. Notably, Meller's production is already based in India, creating a strong operational synergy with its new parent company.

Founded in 2010, Lenskart has become a global leader in the optical sector. With more than 2,500 physical stores and an annual distribution of over 30 million pairs of glasses, the company has developed a scalable omnichannel model that combines contemporary design with competitive pricing and in-house production. This acquisition was facilitated through Lenskart's Singapore subsidiary and is part of a broader expansion plan outside of Asia, supported by major investors like Softbank and Abu Dhabi Investment Authority.

The move comes as Lenskart prepares for a potential initial public offering (IPO), with a valuation that could reportedly exceed 5 billion dollars.

This article was translated to English using an AI tool.

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