We all know that from basic to stylish eyewear, Lenskart is India’s go to eyewear brand. But do you know who is behind this revolutionary and thriving brand?
Born on April 26,1985 in New Delhi, India. Peyush Bansal had a strong interest in technology from a young age. After completion of his school, he went on to pursue Electrical Engineering from McGill University in Canada. He started his professional journey with a well-paid job at Microsoft in USA, but his heart was set on entrepreneurship.
After working one year at Microsoft, Bansal made a life changing decision to return to India and start his own business.
Birth Of Searchmycampus
After he returned to India, Bansal launched a startup named SearchMyCampus, aimed at helping college students find part time jobs and other campus related services. The idea was impactful and fresh, but it didn’t work out the way he had hoped.
Birth Of Lenskart
Bansal co-founded Lenskart along with Amit Chaudhary in 2010. A year later, Sumeet Kapahi joined the team. Reportedly, Bansal discovered that India had over 500 million people who needed vision correction but due to lack of awareness, poor accessibility, and high costs only a small fraction actually used spectacles. To cover this massive gap, they came up with a powerful idea to make quality eyewear accessible and affordable to all Indians.
They started with online sales of contact lenses but soon expanded into prescription glasses and sunglasses. The market response was highly positive, as it was for the first time that people could order high quality, affordable eyewear from the comfort of their homes.
Integrating technology into every aspect of business was something Bansal emphasized from the beginning. Some innovations like Eye check-up services at home, Virtual Try on, In-house manufacturing, Private Labels and use of AI and data science helped lenskart stand tall in the market and quickly become a tech driven eyewear brand.
The Omni Channel
As the trust in eyewear purchases often comes from physically trying the product, Lenskart adopted an Omni channel strategy by opening hundreds of brick-and-mortar stores across the country. Physical presence resulted in a boost of customers trust and profit.
Presently, lenskart has over 2000 retail shops in India. It has also expanded internationally to countries like Dubai, Singapore and more. Lenskart’s innovative model, attracted high profile investors and over the years, it raised over 1 billion in funding from renowned global giants like Premji invest, Softbank Vision Fund, TPG Capital, KKR, Temasek Holdings, Abu Dhabi Investment Authority and IDG ventures.
In 2024, Lenskart became one of India’s most successful unicorns, valued at over 5 billion.
Shark Tank India
Peyush Bansal appeared in Shark Tank India from Season 1-3, which is one of India’s leading business reality shows. With his calm demeanor, insightful questions and problem-solving skills he gained nationwide fame and won the hearts of the viewers.
Read Also: Youngest Indian Entrepreneurs
Unlike other judges, who often focus on financials and business models, Bansal engages with the founder’s clarity, user-centric innovation and purpose. He not only invested in multiple start-ups but also mentored young entrepreneurs and guided them towards sustainable growth.
His Leadership
Bansal aims to deliver maximum value through convenience, affordability and quality. He has always promoted innovation culture, by encouraging experimentation and technology driven solutions. Bansal emphasizes that he doesn’t believe in chasing short-term gains; instead, his focus remains on sustainable growth and building a diverse and inclusive workforce. He often credits his team for the success of Lenskart and focuses on building a strong, values driven culture.
Lenskart Impact On India
The fact that Lenskart has revolutionized the way India buys eyewear is undeniable.
Its impact are as follows –
- They have made vision correction available to millions by combining tech with human touch.
- They provided employment to thousands across logistics, retail and tech.
- Also, they are promoting sustainability by actively working on reducing plastic and carbon footprints in manufacturing
- Lastly, Lenskart has made a significant contribution in promoting awareness about eye health and vision care.
As Peyush Bansal continues to lead the company’s next phase of growth, he assures that Lenskart is set to become an international leader in the eyewear field, with a strong domestic foundation and growing global presence. Journey of Peyush Bansal and Lenskart shows that when vision, innovation and persistence is combined together it can even transform an industry. He teaches us to aim high and take risks for what you love and enjoy learning.
From being a middle-class boy to becoming the face of one of India’s most successful Omni channel brands he has come a long way because of his vision and risk-taking ability.
