lenskart-successful-story

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Lenskart's success story is one of innovation and perseverance. Founded in 2010 by Peyush Bansal,

Lenskart began as an online retailer of contact lenses and eventually expanded to eyeglasses, sunglasses and other eyewear products ¹ ² ³. Early Days Peyush Bansal had the idea to start Lenskart after trying to find a gift for his girlfriend and realizing there was a gap in the market for an online store selling eyewear products ². Growth Lenskart quickly gained popularity due to its wide selection of products and customer-centric approach ². The company raised funding from investors such as Tiger Global Management, Matrix Partners India and Accel Partners, which helped fuel its growth ². Innovation Lenskart has been at the forefront of innovation in the eyewear industry, introducing features such as virtual try-on and home eye check-ups ³.

The company has also invested in automation technology to improve customer support efficiency ³. Impact Today, Lenskart is one of India's leading e-commerce companies, with over $1 billion in sales and a presence in 11 countries across Asia Pacific and Europe ². The company's success has been recognized through numerous awards and accolades, cementing its position as a pioneer in the eyewear industry ². Lenskart's business model is a hybrid model that combines online and offline channels to provide a seamless customer experience. Here are the key components:

1. E-commerce platform: Lenskart sells eyewear products through its website and mobile app, offering a wide selection of frames, lenses, and sunglasses.

2. Home Eye Check-up: Lenskart offers free home eye check-ups, allowing customers to get their eyes tested from the comfort of their own homes.

3. Virtual Try-On: Customers can try on frames virtually using augmented reality technology on the Lenskart app or website.

4. Offline Stores: Lenskart has a strong offline presence with over 1,000 physical stores across India, offering customers the option to try and buy products in person.

5. Franchise Model: Lenskart has adopted a franchise model for its offline expansion, partnering with local entrepreneurs to open stores.

6. Private Labels: Lenskart offers private label brands, such as Lenskart Blue and Vincent Chase, which account for a significant portion of sales.

7. Third-Party Brands: Lenskart also sells products from third-party brands, such as Ray-Ban and Oakley.

8. Supply Chain Optimization: Lenskart has invested in automation technology to optimize its supply chain and improve customer support efficiency.

9. Data Analytics: Lenskart uses data analytics to personalize customer experiences, offer recommendations, and improve marketing efforts. By combining online and offline channels,

Lenskart provides a seamless customer experience, making it a leader in the eyewear industry. Lenskart's turnover was ₹3,788 crore as of March 2023 ¹. The company has seen significant growth, with sales increasing by 150% from the previous year ².