Eyewear retailer Lenskart has acquired an 80% stake in Spanish fashion eyewear brand Meller through its Singapore-based subsidiary, as part of a strategic expansion into Europe and Gen Z-focused product lines. The company paid Rs 406.93 crore (approx €41.5 million) for the stake in Stellio Ventures S.L., which owns the Meller brand, as per a share purchase agreement dated July 12, 2025.
The consideration includes Rs 230.13 crore payable to Stellio’s investors and Rs 176.26 crore to the founders, with a combination of fixed and deferred payments. The acquisition is subject to customary completion conditions.
The deal comes as Lenskart has filed its draft red herring prospectus (DRHP) with Sebi for a public listing, through which it plans to raise Rs 2,150 crore in primary capital. The total IPO size is expected to be in the range of Rs 7,500–8,000 crore, including a secondary share sale by investors like SoftBank and Alpha Wave.
Meller sells affordable fashion sunglasses and accessories directly to consumers across several countries via its website and operates a retail store in Barcelona. The brand was profitable in 2024 under Spanish GAAP.
Lenskart Meller acquisition
Lenskart said the acquisition will:
- Introduce a Gen Z- and millennial-focused sub-brand in its portfolio
- Strengthen its global sunglasses offering
- Enhance social media and e-commerce reach
- Provide supply chain synergies
The move strengthens Lenskart’s international playbook ahead of its planned public listing.
