Reliance Brands acquires India business of Luxottica’s LensCrafters

Reliance Brands Limited has acquired the India business of Luxottica Group’s eyewear company LensCrafters from DLF Brands. The move will bolster the business’ eyewear portfolio ahead of its initial public offering. 

LensCrafters is the latest international brand to join forces with Reliance Retail for its India distribution, two anonymous sources told India Retailing. The eyewear business mainly retails in the US and also counts stores in Canada and Puerto Rico. The business first entered the Indian market in 2020 and opened a brick-and-mortar store inside DLF Mall of India in Noida. 
 
Reliance Brands Limited is a subsidiary of Reliance Retail Ventures and is responsible for retailing a range of international fashion and lifestyle brands in the Indian market including Valentino, Jimmy Choo, Kate Spade, Charles Tyrwhitt, and Versace among others. The business is run by Reliance Industries Limited head Mukesh Ambani’s daughter Isha Ambani, who also led the business’ acquisition of Sunglass Hut’s India business in 2022, DNA India reported. 

Reliance Retail’s IPO is expected to launch this year, Business Today India reported. The business was given a pre-money equity valuation of Rs 8.3 lakh crore in August 2023, the Economic Times reported. 
 
LensCrafters was established in 1983 and is headquartered in Ohio, US. The business has an independent team of optometrists who carry out its eye exams and its stores retail glasses frames from brands including Ray Ban, Oakley, Prada Eyewear, Versace, and Michael Kors among others, according to its website.