Abhishek Gupta, the Former Head of OYO Finance, has Joined Lenskart as CFO

Nitin Konde, Varun Bhardwaj

Oct 23, 2024 — 3 min read

Abhishek Gupta Joins Lenskart as CFO

Hotel firm OYO's former chief financial officer (CFO), Abhishek Gupta, has been appointed CFO of eyewear manufacturer Lenskart.

“I recently started working at Lenskart as the CFO after nine incredible years at OYO,” Gupta stated. In his October 22 LinkedIn post, Gupta thanked OYO founder Ritesh and the entire team for their friendship and trust. Mukti Hariharan, who had been CFO of Lenskart before this, left to join Coca-Cola; therefore, this news comes as no surprise.

Abhishek Gupta's Stint as an OYO Executive

Gupta started working with OYO in June 2015. He oversaw investor relations, treasury and controllership operations, and fundraising over his nine years with the company, all of which were vital to its financial expansion.

His assistance was especially crucial when OYO handled important changes, such as getting ready for its initial public offering. In December 2023, he announced his departure after Rakesh Kumar, who had worked for the company for more than six years, was elevated to the position of group CFO.

Switching from OYO to Lenskart

According to his LinkedIn profile, Gupta formally joined Lenskart in August 2024 after departing OYO in March. Gupta's duties at Lenskart include improving corporate governance and spearheading the company's financial strategy.

His proficiency in financial management and long-term strategic planning will be essential as Lenskart is growing its market share. Former Lenskart CFO Mukti Hariharan departed the firm in September 2024 after guiding it through significant turning points, including a $200 million capital round in June.

Hariharan, who began working with Lenskart in April 2023, said she was proud of the high-achieving team she helped create while she was associated with the firm. She currently works as the Vice President of Finance at Coca-Cola India and Southwest Asia.

The Professional Experience and Vision of Gupta for Lenskart

Gupta has held positions at GE and Philips in addition to OYO. Gupta, an MBA graduate from the Indian School of Business and Harvard University, has continuously shown that he is a financial expert when it comes to overseeing extensive businesses.

His duties at Lenskart will be centred on long-term planning, financial management, and promoting the business's continuous expansion in the cutthroat eyeglasses sector.

Recent Financial Status of Lenskart

Peyush Bansal, Neha Bansal, Amit Choudhary, and Sumeet Kapahi, the company's co-founders, recently contributed close to USD 20 million to Lenskart. According to the corporation, it runs more than 2,500 outlets, almost 2,000 of which are in India. Nearly 60% of its revenue originates from India, with the remainder coming from other markets such as Singapore, Dubai, the US, and Southeast Asia.

Operating revenue for Lenskart increased significantly from INR 1,502 crore in FY22 to INR 3,788 crore in the fiscal year that ended in March 2023. The company was able to cut its losses by 37.3%, from INR 102 crore in FY22 to INR 64 crore in FY23, thanks to this expansion and controlled spending.