Lenskart is an Indian eyewear company founded in 2010 by Peyush Bansal. The company began as an online retailer of eyeglasses, but later
expanded to include physical stores and a mobile app. Today, Lenskart is one of the largest eyewear companies in India, with over 500 stores across the country.
The Lenskart story began when Peyush Bansal, an engineering graduate from the Indian Institute of Technology, Delhi, wanted to buy a new pair of glasses.
He frustrated by the limited selection and high prices at traditional brick-and-mortar stores, and decided to explore the online eyewear market.
He found that the online eyewear market was largely unexplored in India, and saw an opportunity to build a business in this space.
Bansal started Lenskart as an online retailer of eyeglasses in 2010, with a focus on offering a wide range of high-quality, affordable eyewear.
The company quickly gained popularity among Indian consumers, and Bansal began to expand the business by opening physical stores across the country.
In 2014, Lenskart raised $60 million in funding from investors including TPG Growth, IDG Ventures, and Hong Kong-based TR Capital.
The funding allowed the company to accelerate its expansion plans and invest in technology to improve the customer experience.
One of the key innovations that Lenskart introduced was its “Home Try-On” program, which allows customers to try on glasses at home before making a purchase.
This program was a game-changer for the Indian eyewear market, as it addressed the key pain point of buying glasses online – the inability to try them on before buying.
Today, Lenskart is one of the most well-known eyewear brands in India, with a wide range of products including eyeglasses,
sunglasses, and contact lenses. The company has also expanded into other markets, including Singapore and the Middle East.
In 2021, Lenskart announced that it had raised $220 million in funding from investors including Temasek, Falcon Edge Capital, and TPG Growth.
The funding will use to fuel the company’s growth and expansion plans, which include opening new stores and expanding its product offerings.
In conclusion, Lenskart is a great example of a successful Indian startup that has disrupted the traditional eyewear market by offering a wide
range of high-quality, affordable eyewear both online and offline. The company’s innovative approach to customer service and its focus on
technology has helped it grow into one of the largest eyewear companies in India, and it continues to expand into new markets and product categories.
It expanded to include physical stores and a mobile app. Lenskart gained popularity among Indian consumers due to its wide range of affordable, high-quality eyewear.
One of the company’s key innovations was its “Home Try-On” program, which allowed customers to try on glasses at home before making a purchase.
Today, Lenskart is one of the most well-known eyewear brands in India, and it continues to expand its product offerings.
Open new stores. Recently, the company raised $220 million in funding to fuel its growth and expansion plans.