LENSKART: A CONTRAST TO THE START-UP TREND
Peyush Bansal started his online optical store Lenskart in 2010 and he is today listed as one of the most successful start-up entrepreneurs in the country. However, his journey towards success was never a smooth run as he had to face a lot of hurdles and barriers before reaching this level of success.
Peyush’s father was a chartered accountant and he always wished for his son to be well-educated and enjoys a good salaried job. Peyush never disappointed his father as he was the one who did everything to offer him a good education. Peyush studied hard and obtained his engineering degree from Canada. After that, he got a good placement with Microsoft, USA. His CTC was quite handsome as well, but soon he got bored with his job after working for a few years. Finally, in 2007, he decided to return back to India and this expectedly made his parents extremely annoyed. After coming back home, he didn’t stop. Peyush was smart enough to understand this potential and work upon same by starting a search portal called “My Campus.com”.
This website was for the students which provided them information regarding accommodations, books, carpool services, part-time job opportunities etc. He ran this website for three years and by 2010 this online portal in India had grown experienced rapid growth. In order to expand his business in the emerging e-commerce landscape of India, he decided to launch four websites known as Lenskart.com, Jewelry.com, WatchKart.com, and Bags.com for the online sale of eyewear, jewellery, watches, and bags respectively.
With time, Peyush decided to give his maximum focus on Lenskart.com. Finally, he succeeded to form it as the biggest online optical shop in the country. Today, Lenskart has opened its own offline stores with its online one that provides all the advanced facilities in all the major cities across India.Presently, the company is providing eyewear to 1,000 people and in more than 1,500 cities pan India. It is not only limited till here. It also gives over 500 daily with eye check-up facilities at their home. Lenskart is expanding its business across the country following the franchise model.
According to experts: THE BUSINESS OF EYEWEAR IS VERY PROFITABLE WITH MARGINS AS HIGH AS 500 PERCENT. LAUNCHING SUCH A LUCRATIVE BUSINESS ON A LARGE SCALE THROUGH TECHNOLOGY IS TRULY REVOLUTIONARY.
This is the reason why Lenskart is such a great success and is still making more progress. Currently, the annual turnover of the company is over Rs 100 crores and is preparing to bring an IPO in the coming three years. Peysuh has really put in his extra efforts to drag Lenskart form dirt to sugar, and his dedicated focus has a lot to say. It tells us that it doesn’t matter what challenges we face in life, there’s always a way out if we can just hold on to the tide and keep striving to get on the top.
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