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Lenskart is a revolution in the eyewear industry, but it was not always like this. It took 10 years for Lenskart to reach where it is today. The 12 years of hard work, passion and dedication made Lenskart successful. Lenskart has also successfully been able to bridge the gap between online and offline retail by starting Lenskart franchise partner program. Lenskart franchise is a very lucrative opportunity for anyone who wants to  go ahead in the eyewear industry.

LENSKART JOURNEY

It all started in 2010, with a vision to make eyewear available to everyone in need. The CEO and co-founder of the company, Peyush Bansal, is from New Delhi. He did his schooling in Delhi itself and then he did electrical engineering in Canada. 

Peyush Bansal believes that one of the biggest concerns in the world is vision correction. To solve this problem, Lenskart was made with a goal to revolutionize vision correction.  The company’s founder, Peyush Bansal, started the journey of Lenskart In 2010 along with Sumeet Kapahi and Amit Chaudhary. Peyush Bansal started the office of Lenskart in a car garage in 2011. The parent company of Lenskart, Valyoo Technologies was also founded by Peyush Bansal himself. He saw that the problem of eyewear is faced by almost everyone, but remains neglected and so he decided to do something about this problem and that is how Lenskart was started.

VALUATION OF LENSKART

Lenskart is one of the leading businesses in the field of eyewear. It has brought a revolution in the eyewear industry. Lenskart recently raised Rs.760 crore and it may be now valued at $4 billion.

The funding of Lenskart has been done by investors such as Ratan Tata, Rajeev Chitrabhanu, and IFC venture capital group, Alpha Wave Global, the Softbank and Temasek-backed Company etc.

THE EYEWEAR PROBLEM

As told by Peyush Bansal in many of his interviews, approximately 50% of the world needs to wear glasses. Focusing on India, around 1/3 rd of the population needs eyewear, of which only 25% of people address this problem.

LENSKART BUSINESS

Lenskart is one of the fastest- growing industries, it offers around 45 different types of excellent quality lenses and 5000+ designs of frames. The designs are upto the consumer’s expectations; from old to new generation, its designs have been made keeping in mind the need of every customer. It offers trendy and stylish eyewear at an affordable rate and is easily available. It has an inventory-led business model which helps in passing the designs to its manufacturers.

UNIQUENESS

It is not that the company doesn’t have competitors, but the company manages to stand out in all the competition. Its competitors include companies such as Specsmakers, Titan Eyeplus, Vision Express, Lensbazaar, Coolwinks etc. Big e-commerce platforms such as Amazon, Flipkart etc,.

The company’s uniqueness is that it is highly organized, very innovative, low-cost products, excellent services, different price points which helps in targeting customers from different segments. Its services like home eye check-up, online 3D trial, trendy and up to date frames are highly successful and liked by a wide range of consumers. Lenskart has also established Lenskart franchise business which is highly successful as it has helped many people start their own career in the eyewear industry. It is a beneficial and profitable program started by Lenskart.

Hence, Lenskart has been successful and profitable in the long run. It also provides others with opportunities through the Lenskart franchise. Lenskart was successful because of its passion and dedication towards the work and is an inspiration for a million others who want to start their own company and bring revolution in the industrial field.