The Beginning: How Lenskart Started
Peyush Bansal and his co-founders Amit Chaudhary and Sumeet Kapahi established Lenskart in 2010. What began as a simple online platform for contact lenses has today grown into India’s largest eyewear brand, offering a full range of eyeglasses, sunglasses, and lenses both online and offline. A graduate of IIM Bangalore and former employee of Microsoft, recognized a significant gap in the eyewear market in India. Only a small percentage of the over 550 million Indians who require vision correction actually wear glasses. Bansal realized that eyewear was not just expensive — it was also inconvenient to access, especially outside major cities.
With that insight, Lenskart was born with a mission: “To give India a clearer vision.”
Business Model and Innovation: Disrupting the Eyewear Market
Lenskart disrupted the traditional eyewear industry with a unique blend of technology, affordability, and customer-first innovation.
- Accessible and Reasonable:
Lenskart cut costs significantly and eliminated middlemen by manufacturing its own frames and lenses. Because of this, high-quality eyewear became accessible to everyone, not just the urban elite.
- The Advantage of Omnichannel:
Lenskart, in contrast to many e-commerce startups, implemented an omnichannel strategy. Customers could browse and buy online, or visit one of 2,000+ Lenskart stores across India for an in-person experience.
- Technology That Enhances Experience:
Lenskart made it simple and personalized to buy glasses by utilizing cutting-edge technology, such as 3D AI try-on features and home eye check-up services. Customers can also find frames that are best suited to their face shape and style thanks to its AI-driven recommendations.
- Services centered on customers:
Lenskart built its brand on trust — offering free eye tests, 30-day return policies, and “Buy One, Get One” offers. These initiatives made eyewear shopping not just affordable but also fun and reliable.
Expansion of the global economy
Lenskart has grown from a small start in 2010 to a unicorn with a value of over $4.5 billion as of 2024. With an expanding presence in India, Singapore, the United Arab Emirates, and other international markets, the business has served more than 20 million customers.
Important Development Points:
- Established as an online lens retailer in 2010.
- 2013: Expanded to full-service eyewear (glasses, lenses, sunglasses)
- 2015: Launched home eye check-ups and try-at-home service.
- Reached 500 offline stores in India in 2019.
- Expanded into international markets (Singapore, Middle East) in 2022
- 2024: With major investors like SoftBank and Temasek, valued at $4.5 billion.
Lenskart’s ability to balance digital efficiency with personal touch helped it dominate the eyewear market both in India and abroad.
Leadership and Vision: The Peyush Bansal Effect
At the heart of Lenskart’s success is its visionary founder — Peyush Bansal. A graduate of McGill University and IIM Bangalore, and a former Microsoft employee, Bansal left a lucrative career to solve India’s vision problem. Empathy, simplicity, and thinking long-term underpin his strategy.
The philosophy of Bansal is clear: “If you can solve a real problem for a billion people, success will follow.”
His appearance on Shark Tank India made him a household name and an inspiration for aspiring entrepreneurs across the country.
Impact on Society
A Vision for All Lenskart serves a significant social cause beyond business. Through The Lenskart Foundation, the company organizes free eye camps and provides free glasses to underprivileged communities.
Their goal is simple but powerful: to make sure that no Indian has poor eyesight because they can’t afford it or have no access to it. By 2024, Lenskart’s CSR initiatives had impacted over one million people nationwide.
Marketing Strategies That Set Lenskart Apart
- Digital Campaigns and Celebrity Endorsements:
Lenskart’s marketing approach has played a crucial role in its success.The brand has leveraged digital platforms like Instagram, YouTube, and Facebook to run engaging campaigns. Its brand image has been further bolstered by partnerships with Bollywood stars like Karan Johar and Katrina Kaif, making eyewear a fashionable accessory rather than just a necessity.
- Personalized Customer Experience:
Lenskart provides a personalised shopping experience through data analytics and AI-driven recommendations. The goal of the business has been to make eyewear shopping easy and enjoyable, whether that be through personalized frame suggestions or doorstep eye exams.
- Word-of-mouth and social media:
Lenskart has established a thriving online community by encouraging customer feedback and user-generated content. Brand credibility and customer loyalty have been significantly enhanced by influencer partnerships and positive word-of-mouth.
Three Lessons from Lenskart for Entrepreneurs
1. Find and Address a Real-World Market Issue: The inefficiencies in India’s eyewear industry were a key part of Lenskart’s early success. Traditionally, the process of purchasing prescription glasses was time-consuming, costly, and inconvenient. The majority of optical shops lacked a well-organized customer experience, had low inventory, and charged high markups.
Lenskart came up with a more customer-centric model by recognizing these issues and offering:
- A wide variety of stylish, affordable eyewear options.
- an online-first strategy that saves money and reduces dependence on physical retail spaces.
- Home eye-checkups and free trial services, making eyewear more accessible.
Lesson for Business Owners: Entrepreneurs must conduct extensive market research to identify customer pain points before starting a business. A successful startup solves real problems by offering unique, scalable solutions that add tangible value.
2. Smartly scale up and protect strategic investments
Lenskart was able to attract significant investors like SoftBank, Temasek, and KKR. Lenskart, on the other hand, placed a strong emphasis on long-term expansion over rapid expansion, in contrast to many other new businesses that:
- Expanding into new markets only when existing operations were stable.
- Prior to scaling, investing in supply chain efficiency.
- Using funding for technology enhancement and operational improvements rather than unchecked expansion.
Advice for Business Owners: While raising capital is essential, a company’s long-term success is determined by how those funds are utilized. Instead of focusing on rapid, uncontrolled expansion, startups should look for investors whose vision is similar to their own and prioritize sustainable scaling.
3. Concentrate on Customer Satisfaction:
By prioritizing convenience, affordability, and service quality, it built strong brand trust and loyalty.
Key initiatives included:
- Home Eye Check-Ups: Made vision care accessible, reducing the hassle of visiting opticians.
- Affordable Eyewear with a Fashionable Look: We cut out the middlemen to provide fashionable, high-quality eyewear at competitive prices.
- Flexible Return & Exchange Policies: A 14-day return policy and one-year replacement warranty increased buyer confidence.
Customer experience was enhanced by omnichannel support and after-sales service, including free lifetime service, AI-powered chat support, and personalized recommendations.
Advice for Business Owners: Customer trust is key to long-term success. Startups should focus on seamless service, transparent policies, quality assurance, and strong after-sales support to build a lasting brand presence. Emerging businesses can replicate Lenskart’s success in developing a scalable and influential brand by implementing these lessons. The company’s journey highlights the importance of market disruption, technological integration, and customer-centric strategies in achieving long-term success.
The Future of Lenskart
As Lenskart looks ahead, it’s not slowing down.
- The business intends to: Expand into the United States, the Middle East, and Asia.
- Make an investment in eco-friendly frame materials and AI-based lens technology.
- Create technologically advanced eyewear solutions for the next billion users.
The goal has not changed: to make fashionable, high-quality eyewear available to everyone, everywhere.
A Visionary Journey to the End
The Lenskart success story is about empowerment more than just eyewear. What started as a small online startup is now an empire transforming how millions see the world.
By blending affordability, innovation, and compassion, Lenskart has proven that vision can truly change lives. One thing is certain as Peyush Bansal continues to advance the brand: Lenskart’s vision for India is now more distinct than ever.
