Lenskart Solutions, a leading eyewear brand, faced severe backlash following the circulation of an old internal grooming policy online. The policy, which allegedly restricted employees from wearing visible religious symbols like tilak and bindi, sparked nationwide outrage and calls for a boycott. This social media storm quickly translated into financial instability as the company’s stock took a significant hit on the exchange.

Market Value Plummet On Monday, Lenskart’s shares fell by nearly 5% during trading hours on the BSE, hitting a low of ₹508.70. This dip resulted in a massive loss of over ₹4,500 crore in the company’s valuation within a single day. The market cap dropped from ₹92,872 crore to approximately ₹88,331 crore at its lowest point. Although the stock showed signs of recovery toward the end of the session, the initial impact highlighted the sensitivity of cultural sentiments in the market.

Damage Control and Policy Update In response to the crisis, founder Peyush Bansal clarified that the viral document was an outdated version and does not reflect the company’s current stance. Lenskart issued a formal apology and released a new ‘In-Store Style Guide’ that explicitly welcomes all religious and cultural symbols, including bindi, tilak, hijab, and turbans. The company emphasized its commitment to inclusivity, stating that any misunderstanding regarding their workplace culture was deeply regretted.

At a Glance

• Lenskart shares dropped by 5% following a controversy over internal grooming policies.
• The company lost over ₹4,540 crore in market valuation during Monday’s trading session.
• Founder Peyush Bansal apologized, labeling the viral policy document as outdated.
• A new style guide has been issued, explicitly permitting all religious symbols for employees.