Indian eyewear unicorn Lenskart has acquired an 80% stake in Spanish fashion eyewear brand Meller, investing approximately ₹407 crore (€41.5 million) via its Singapore-based subsidiary, as revealed in its Draft Red Herring Prospectus filed with SEBI. This marks a strategic move to deepen its presence in Europe and appeal to the Gen Z and millennial segment.

The takeover was executed through Lenskart Solutions acquiring 32,226 shares of Stellio Ventures S.L., the company behind the Meller label, representing 80% of the fully diluted share capital. The ₹407 crore consideration includes approximately ₹230 crore payable to peers and ₹176 crore to founders, structured through a mix of fixed and deferred payments. Meller operates direct-to-consumer fashion sunglasses and accessories, including a flagship retail outlet in Barcelona. According to the filing, the brand was profitable under Spanish GAAP in 2024—providing Lenskart with an operating platform and a youthful audience base ahead of its intended public listing.

This acquisition complements Lenskart’s wider international expansion strategy. Earlier investments include its full acquisition of Japan’s Owndays in 2022 and minority stakes in France’s Le Petit Lunetier and AI-enabled eyewear startup Ajna Lens in 2024–2025. The Meller deal is expected to boost Lenskart’s social media presence, enrich its sunglasses portfolio, and generate supply-chain synergies.

The transaction coincides with Lenskart preparing for a large-scale IPO. The capital raise will comprise a ₹2,150 crore fresh equity issue, in addition to a secondary share sale by existing investors, potentially scaling the total IPO size to ₹7,500–8,000 crore. Lenskart aims for a valuation of ₹70,000–75,000 crore, placing it among India’s most valuable consumer startups.

Financially, the company delivered a rebound in FY25 by posting a net profit of ₹297 crore, reversing a ₹10 crore loss the prior year. Revenue grew by 22% year-on-year, reaching ₹6,625 crore. Approximately 60% of this revenue came from India, with the remainder from international operations. Gross margin stood at 69%, reflecting operational efficiencies across channels.

Moving forward, Lenskart plans to launch a Gen Z–focused sub-brand leveraging Meller’s style, social engagement, and e-commerce infrastructure. Company executives highlight the acquisition’s importance in strengthening brand visibility and optimizing global sunglasses distribution. Analysts view this acquisition as part of Lenskart’s “buy-and-build” playbook. With the IPO nearing and its global ambitions accelerating, the deal helps diversify its product lineup beyond prescription eyewear into trend-led fashion categories that resonate with younger audiences.

In summary, Lenskart’s acquisition of Meller marks a strategic leap into Europe and lifestyle eyewear. Positioned at the intersection of fashion, technology, and youth-centric branding, the deal strengthens Lenskart’s global footprint just as it gears up for a landmark public listing.