Lenskart appoints Abhishek Gupta as new CFO

Lenskart has appointed Abhishek Gupta as its Chief Financial Officer (CFO). Gupta previously held the position of CFO at OYO for nine years.

He will replace Mukti Hariharan, who stepped down from Lenskart in September to join Coca-Cola.

According to Gupta’s LinkedIn post, he left OYO in March and joined Lenskart. In his role as CFO, he will provide direction for long-term strategic planning and execution, focusing on driving the financial strategy and strengthening corporate governance at Lenskart.

Recently, Lenskart raised nearly $20 million from its co-founders: Peyush Bansal, Neha Bansal, Amit Choudhary, and Sumeet Kapahi.

Lenskart claims to operate more than 2,500 stores, with approximately 2,000 located in India. While India accounts for nearly 60% of its revenue, the remaining income is generated from international operations in countries such as Singapore, Dubai, the US, and Southeast Asia.

For the fiscal year ending in March 2023, Lenskart’s revenue from operations surged to Rs 3,788 crore, up from Rs 1,502 crore in FY22. This growth, along with controlled expenditure, helped the company reduce its losses by 37.3%, bringing them down to Rs 64 crore in FY23 from Rs 102 crore in FY22.