Success Story Of Lenskart ll Lenskart Success Story 

Lenskart is an Indian eyewear company that was founded in 2010 by Peyush Bansal. The company has since grown to become the largest online eyewear company in India, with over 700 stores across the country. In this 5000-word article, we will explore the journey of Lenskart, from its humble beginnings to becoming one of the most successful companies in India.

Founder and CEO Lenskart

Peyush Bansal

  • The Early Days

Peyush Bansal, the founder of Lenskart, was a computer science graduate from the Montreal Institute of Technology. After completing his studies, he returned to India and started working for Microsoft. However, after a few years, he realized that he wanted to start his own company. He left Microsoft and founded his first venture, Valyoo Technologies, in 2007. The company was an e-commerce platform that sold products in various categories, including jewelry, bags, and eyewear.

Peyush noticed that eyewear was a particularly interesting category because it was underserved and lacked innovation. The traditional model of buying eyewear involved going to a physical store, getting an eye test, and then choosing from a limited selection of frames. Peyush believed that this process could be simplified and made more convenient for customers by leveraging the power of the internet.

In 2010, Peyush founded Lenskart with the aim of disrupting the eyewear industry in India. The company started as an online store that sold a limited selection of frames and lenses. However, it quickly gained popularity because of its affordable prices and convenient service. Customers could order glasses from the comfort of their homes and get them delivered within a few days.

  • Building the Brand

One of the key factors that contributed to Lenskart's success was its branding. Peyush realized that in order to differentiate Lenskart from its competitors, he needed to create a strong brand identity. He wanted Lenskart to be associated with innovation, affordability, and convenience. To achieve this, he invested heavily in marketing and advertising.

One of Lenskart's most successful marketing campaigns was the "Try Before You Buy" initiative. The company sent out salespeople to customers' homes with a selection of frames so that they could try them on before making a purchase. This initiative was hugely popular and helped Lenskart to build trust with its customers.

Another important aspect of Lenskart's branding was its focus on customer service. The company invested heavily in training its salespeople to provide excellent service to customers. This helped to build a loyal customer base, as customers appreciated the personalized service they received.

  • Expansion and Growth

After gaining traction in the online space, Lenskart decided to expand its operations by opening physical stores. The company realized that customers still preferred to try on frames before making a purchase, and physical stores provided a way to do this. Lenskart opened its first store in Delhi in 2013 and quickly expanded to other cities.

By 2017, Lenskart had over 350 stores across India. The company also expanded its product range to include sunglasses and contact lenses. This helped to attract a wider range of customers, as Lenskart was no longer just a store for people who needed prescription glasses.

In addition to expanding its product range and physical presence, Lenskart also invested heavily in technology. The company developed a mobile app that allowed customers to try on frames virtually using augmented reality. This technology was a game-changer for the eyewear industry, as it allowed customers to see what they would look like in different frames without having to leave their homes.

  • Challenges and Solutions

Despite its success, Lenskart has faced several challenges over the years. One of the biggest challenges has been dealing with counterfeit products. The eyewear industry is plagued by counterfeit products, and Lenskart was not immune to this problem. However, the company tackled this issue head-on by investing in technology

Business model of Lenskart 

Lenskart is an Indian eyewear company that specializes in providing eyeglasses, sunglasses, contact lenses, and related accessories. Its business model can be broken down into the following key aspects:

  1. Online and Offline Presence: Lenskart operates both online and offline through its website and retail stores. It has a strong omnichannel presence, which allows customers to purchase products online or at its brick-and-mortar stores.
  2. Product Offerings: Lenskart offers a wide range of eyewear products, including eyeglasses, sunglasses, contact lenses, and related accessories. It also offers a variety of lens options, such as anti-glare, scratch-resistant, and polarized lenses.
  3. Pricing Strategy: Lenskart offers a competitive pricing strategy, which includes affordable pricing for its products and frequent promotional offers to attract customers. It also offers a "Home Try-On" service that allows customers to try on up to four frames at home for free before making a pupurchase.
  4.  Customer Service: Lenskart places a strong emphasis on customer service, which is evident through its "Lenskart Gold" program. This program offers customers several benefits, including free frame replacement, priority service at stores, and discounts on products.
  5. Manufacturing: Lenskart owns its manufacturing facilities, which allows it to maintain quality control and offer affordable pricing for its products. It also works with third-party suppliers to expand its product offerings.

Overall, Lenskart's business model emphasizes customer convenience, affordability, and quality control to establish itself as a leading eyewear brand in India.

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