Lenskart, a company that sells glasses online, is counted among the most successful startups in the country. This company, formed in the year 2010, has become worth $ 2.5 billion. The company has announced it to give jobs to more than 2000 people by March 2022. After reaching out from metros to medium and small towns of the country, Lenskart is now expanding its team to Singapore, the Middle East, and America. As unique as the format of this company is, its story is equally interesting.
How Lenskart Was Started
Lenskart was started in the year 2010 by Peyush Bansal. Till 2007, Peyush was doing a job at Microsoft company in America and his package was good. Despite the good salary, Peyush wanted to do something different. After studying at IIM Bangalore, he had many ideas in his mind, but he was not able to work on them along with his job. In 2007, Piyush decided that he will go to India and give a flight to his dreams. Family and friends were surprised by his decision, Piyush did not agree even after much persuasion and came to India.
Peyush Bansal Linkedin Profile https://in.linkedin.com/in/peyushbansal
Peyush Bansal Instagram Profile https://www.instagram.com/peyushbansal/
Peyush Bansal Twitter Profile https://mobile.twitter.com/peyushbansal
Petush Bansal Facebook Profile https://www.facebook.com/peyush.bansal.7165/
Lenskart Official Website https://www.lenskart.com/
Lenskart Download Playstore app https://play.google.com/store/apps/details?id=com.lenskart.app&hl=en_IN&gl=US
Peyush, a business studies student, started doing the research before starting his startup. He wanted to sell glasses online but had no experience in this field. He calculated all the aspects related to the business, and that was the reason why his experiment was successful. Peyush, a resident of Delhi, has studied engineering in Canada.
When he returned to India, the e-commerce market was booming here. To understand the market, he started a classifieds website ‘Search My Campus’. Here students are helped to find things like books, hostels, part-time jobs, and carpools. Peyush worked on this project for three years and through this, he kept reading about the behavior and needs of the Indian customer.
After three years, of understanding the needs of the customers, Peyush Bansal launched four different websites. Eyewear was one of them. The remaining three companies were targeting the youth in jewelry, watches, and bags (jewelskart, Watchkart, and Bagskart). Seeing the response, he focused on eyewear, and from here began the success of Lenskart.
Taking forward the concept of local-global, they started opening outlets in small and big cities of the country, where every range of spectacles as well as eye check-up facilities was provided. With this, the sale of these glasses started in the online market and the ‘Eye Test at Your Home’ concept also got recognition. Many investors were found after seeing his unique concept. Which includes KKR, SoftBank Vision Fund, PremjiInvest, and IFC.
During an interview, Peyush said that he is not afraid to take risks and does not delay in taking decisions. That’s why opportunities do not slip from their hands. He believes that the productivity of the team increases if the responsibilities are distributed among the team members and they are appreciated on time.
So, Friends, this is the story of how Lenskart was Started, I hope you like this article. thanks for reading it.