Startup Lenskart Founder Peyush Bansal -One Of The Top Optical Chains In India
Founded by Peyush Bansal with Amit Chaudhary and Sumeet Kapadhi in the year 2010, Lenskart has become one of the two, Top optical chains in India, along with Titan Eye Plus.
Peyush Bansal, a former Microsoft employee, founded Lenskart in the year 2010 along with Amit Chaudhary and Sumeet Kapadia.
All about Lenskart
Lenskart is an Indian optical prescription eyewear retail chain.
In 2019, it had over 500 stores spread across 70 cities in India. It also reached a valuation of $1.5 Billion after SoftBank invested around $275 million in the company.
In 2019, the company generated total revenue of 486.26Cr rupees.
The company's Investors include-
TPG growth is an American Investment company. This private equity firm keeps its main focus on leveraged buyouts and growth capital.
It invests in several kinds of industries including consumer/retail, media and telecommunication, technology, travel, leisure, and health care.
-International Finance Corporation
International Finance Corporation is an International Finance institution that provides investment, advisory, and asset management services and further boosts the private-sector development in less developed countries.
It is a member of the World Bank Group and has its headquarters in
Washington, D.C. in the United States.
It has an arrangement of providing debt and equity financing services and it helps the companies to face their risk exposures. IFC also provides advice to companies in making smart decisions, considering their impact on the environment and society, and helps the companies to become responsible.
-Ratan Tata and S Gopalakrishnan have also invested in Lenskart.
Company's Growth, It's Success And The Brand Ambassadors
In 2016, Lenskart became one of the two, top optical chains in India, along with Titan Eye Plus.
In March 2018, the chairman of Wipro, Azim Premji invested 400Cr rupees in the group which led to a boost and took the valuation of the company to 3000Cr rupees.
The manufacturing facility of Lenskart in Delhi manufactures 3,00,000 glasses every month. The company also has a factory in Zhengzhou (China) which is responsible for 50% of the manufacturing of its products.
In the year 2017, renowned Bollywood actress, Katrina Kaif became the company's first brand ambassador.
In March 2019, the company got Bhuvan Bam on board, as their first male brand ambassador.
Lenskart's Strategy And Services
The company has adopted a multi-channel strategy to get a wide reach among its customers.
The company has regular stores spread all across the country and it also works online through its a user-friendly website.
The company also provides eye check-ups and it also lets you order at-home eye check-ups wherein you can get your check-ups done at the convenience of your home.
Apart from this, the company provides it's customers with a "Home Try-On" feature where one can order a number of eye-wear for delivery at home to pick and choose the right fit.
Lenskart also organizes eye check-up camps at various organizations to reach out to their customers in every way possible, which is just icing on the cake!
That was it from our end on Lenskart. Stay tuned and keep following our blog for reading more of such informative articles revolving around business, success, start-ups, travel and so much more.
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