MAM

John Jacobs aims to clock Rs 500 cr rev by March 2021

It is also aiming to set up about 50 stores by the same time

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MUMBAI: Eyewear brand by Lenskart, John Jacobs is aspiring to drive Rs 500 crore in revenue in the coming two years as it will strengthen its retail presence and expand the product portfolio by adding six more stores in next two months. The brand already has eight stores spread across Delhi, Pune, and Bengaluru. It is also aiming to set up about 50 stores by March 2021.

John Jacobs business head Manan Duggal shared that the brand is witnessing strong growth. “We expect to close this fiscal with a top line of Rs 180 crore. By March 2021, we expect our revenues to touch Rs 500 crore.

He added that about 40 per cent of the sales are driven by online channels, with the rest coming from offline stores.

Last year, Lenskart had said it will invest $4 million in John Jacobs to fuel the brand’s expansion plans.

“We are aggressively growing our presence both in online and offline. The brand is already retailing through Lenskart outlets (over 450 in more than 100 cities). The aim is to take the number of our own stores from 8 now to 50, by March 2021, covering all major metro cities,” he said, adding that the store expansion will entail investment of about Rs 10-15 crore.

John Jacobs is also in discussions with fashion retail chains for distribution of its products.

“In terms of online reach, we are already there on Lenskart and Amazon.in and will soon be available on Flipkart as well,” Duggal said, adding that the brand is aggressively expanding its product portfolio as well.

John Jacobs recently introduced a new eye-wear delivery model where the brand delivers eyeglasses, fitted with powered lenses, in a 20-minute time-frame.

The service, currently available in select stores in Bengaluru, will be expanded to Delhi and Pune as well, Duggal said. He added that with the new service, the brand expects to see 30-40 per cent upside in orders.

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