tiprankstipranks
KKR Invests $95M In Indian Eyewear Retailer Lenskart
Market News

KKR Invests $95M In Indian Eyewear Retailer Lenskart

Global investment company KKR & Co. (KKR) has agreed to invest $95 million in Indian eyewear retailer Lenskart.

Per the terms of the transaction, initial investors in Lenskart, TPG Growth and TR Capital will partially divest their stakes.

KKR is experienced in working with technology and eyewear providers across the globe and it will use the expertise to help Lenskart increase its presence in the Indian market, expand global operations and improve digital products and services.

Lenskart is the largest eyewear service provider in the Indian market. Annually, it caters to 7 million customers via both online and offline channels.

KKR Partner Gaurav Trehan said, “As a technology-driven business, Lenskart is a strong, homegrown disruptor in India’s rapidly expanding eyewear industry, We are truly excited to work with Peyush (Lenskart CEO) and Lenskart’s impressive management team to support Lenskart’s growth and innovation in India and internationally, in addition to advancing its mission to provide affordable, accessible eyewear products for everyone.” (See KKR & Co stock analysis on TipRanks)

On May 5, Credit Suisse analyst Craig Siegenthaler reiterated a Hold rating on the stock and raised the price target to $66 (17.6% upside potential) from $60.

Siegenthaler highlighted KKR’s “strong” Q1 performance, including wider than expected FRE.

Consensus among analysts is that KKR & Co is a Strong Buy based on 9 Buys and 3 Holds. The average analyst price target of $64 implies 14% upside potential. Shares have gained about 117% over the past year.

Related News:
Sierra Wireless Tops Expectations in Q1; Shares Rise 10%
Coinbase Reports Strong Q1 Earnings After IPO; Shares Open 6% Higher
Fisker to Manufacture Vehicles with Foxconn; Shares Jump Over 15% in Pre-Market

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100
Bitcoin

Popular Articles