Introducing Lenskart – a smarter way to purchase your lenses
The largest E-Commerce company in India, LensKart, founded in Delhi by Peyush Bansal in November 2010 to be a portal for eyewear, is the largest E-commerce company in India both online and offline.
There are many different kinds of products that are offered by this company, such as eyeglasses, computer glasses, contact lenses, power sunglasses, colour contact lenses, etc.
It should be noted that Lenskart is a direct-to-consumer brand, meaning that its products are sent by factories direct to customers without any additional charges from middlemen. They use robots to manufacture the products.
It is a company that has expanded massively, having more than 900 outlets in India and showing footprints in other countries in South East Asia and the Middle East. It serves over four lakh customers every month.
With Rs 98 crores in revenue three years ago, it has soared to Rs 484 crores and Rs 989 crores today and is the largest eyewear company in India.
Here is the story behind how Lenskart became successful
At McGill Canada University, where Peyush Bansal studied electrical engineering with a focus on controls and automation, Peyush Bansal went on to build the company’s Founder and CEO.
Peyush Bansal launched Valyoo Technologies in 2007. The company provides students with books, job opportunities and internships, as well as other help with their academic careers.
The company helped students with books, part-time jobs, internships and other opportunities. In the same way that Lenskart, a company that sells eyewear, launched in the US, Flyrr.com has also been launched by him.
Peyush Bansal, Sumeet Kapil, and Amit Chaudary founded the company Lenskart in 2010 intending to create eyewear, especially for Indians.
The model consists of online services
There used to be a huge difference in quality between eyewear products in India and the rest of the world. The strategy I came up with was to address this pain point. In addition to the fact that these products are free and boast high-quality designs, they are also affordable with plenty of features.
With over 4,000 employees working on designing, manufacturing, technology, and logistics, Lenskart can fulfil every requirement of its clients.
A franchise business model has allowed Lenskart to expand into new cities across the globe. Franchisors can share about 35 per cent of Lenskart’s revenues.
Find out what funds and investments have just been announced
It has been reported that lenskart received funding from NESO brands to the tune of approximately 100 million dollars. Lenskart is currently arranging to finance for 9 unicorns and eco-system companies, led by GeoIQ, a company that raised 2.25 million dollars in funding.
The company invested in TangoEye for Artificial Intelligence and Computer Vision for customers of the company. Throughout 12 rounds of funding, Lenskart raised a total of $899,4 million. The company was founded by 17 investors. On May 19 2022, Ditto will receive $2.3M in funding.
This investment will contribute to the business in the future
To turn nerdy glasses into cool ones, Bansal, Chaudhary, and Kapil developed a wearable gadget. They are launching 500 stores worldwide. As artificial intelligence and digital marketing have high scope or demand, it will also shift their focus to these areas.
Through the hiring of 2000 employees in India, the company will generate employment opportunities. It will be a huge company in the manufacturing and the retail sector.
The plans for lenskart are sure to succeed. The company’s primary goal is to make products more accessible.
Despite showing TV advertisements that encourage viewers to go digital and try 3D glasses, the company places a high priority on digital marketing.
This is why Lenskart distinguishes itself from its competitors
A More Competitive Value Proposition = More Sales
This unique first frame free offer attracts new customers and Try at Home has been designed to attract them by giving them a chance to try 5 eyeglasses at home before making a final decision.
We also offer discounts on coupon codes, as well as many other discounts.
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