New Delhi, Sept. 1 -- One of the most closely watched public listings in the consumer-tech space is around the corner, with eyewear retailer Lenskart filing its draft papers in August.

Founded in 2008 and starting out as an online-only player in 2010, the company entered offline retail in 2013 and has since scaled to 2,067 stores across India. In a highly fragmented market, Lenskart stands out as a rare consumer-tech venture that has built both scale and market leadership.

Here's a look at five strengths driving its story-and the risks investors should watch out for.

When Lenskart entered the eyewear market, the space was fragmented and dominated by scattered local players. Titan had already launched its Eye+ division in 2007, but the ...