Eyewear brand Lenskart, led by Peyush Bansal, has acquired an 80 percent stake in Spanish fashion eyewear label Meller for Rs 407 crore. This strategic move comes as the Gurugram-based company prepares for its Initial Public Offering, scheduled for 2025.
The acquisition was made through Lenskart’s Singapore arm and marks its entry into the Spanish market through Stellio Ventures S.L., the parent company of Meller. Meller is a Gen Z-focused fashion eyewear brand known for its strong digital presence and stylish sunglasses.
This is not Lenskart’s first international investment. The company had earlier acquired Japanese D2C eyewear brand Owndays in 2022 and made smaller investments in French brand Le Petit Lunetier and Mumbai-based Ajna Lens.
In its Draft Red Herring Prospectus filed with the Securities and Exchange Board of India, Lenskart stated, “We have pursued, and are likely to continue to pursue, acquisitions that provide us access to complementary or synergistic eyewear capabilities, products, and markets.”
Lenskart said that acquiring Meller will strengthen its sunglasses portfolio, boost its social media brand-building efforts, and lead to better cost efficiency across the supply chain. The total value of the Meller deal could reach up to Rs 572 crore, subject to regulatory approvals.
The acquisition also sets the stage for Lenskart to build a strong Gen Z and millennial-focused sub-brand under Meller’s identity, giving the company a broader product appeal in the European market.
As per its DRHP, Lenskart’s IPO will consist of a fresh issue of shares worth Rs 2,150 crore and an offer for sale of 13.2 crore equity shares by existing investors such as Premji Invest’s PI Opportunities Fund II, Kedaara Capital, Alpha Wave Ventures, Schroders Capital, and SoftBank’s SVF II Lightbulb (Cayman) Ltd.
Founders Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi will also sell a portion of their holdings as part of the offer for sale.
Lenskart, which operates over 2,700 stores, reported a net profit of Rs 297 crore in the financial year 2025.
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