Peyush Bansal, the co-founder of Lenskart
The eyewear store company Lenskart was co-founded by Indian businessman Peyush Bansal. Together with Sumeet Kapahi and Amit Chaudhary, he launched the business in 2010. Bansal had worked with Microsoft in the United States before founding Lenskart. He made the decision to leave his work and go back to India in 2007. From the ground up, he created Lenskart, which is now one of India’s largest eyewear retailers. Lenskart joined the unicorn club in 2020 and was valued at more than $1 billion. He also invests in the Indian version of Shark Tank. Here is Peeyush Bansal’s tale of success.
India’s New Delhi was the place of Peyush Bansal’s birth on April 26, 1985. From McGill University in Canada, Bansal received a degree in electrical engineering. He began working at Microsoft after graduating. For a very long time, Bansal had looked up to Bill Gates. He has always desired employment with his business. He developed concepts for Microsoft’s MS Office while working there, which may enhance the user experience. Bansal chose to leave his position at Microsoft in 2007 and go back to his native country.
He worked with a few firms that were highly successful between 2007 and 2009. The Indian Institute of Management, Bangalore, also awarded him a management degree upon graduation. Bansal started SearchMyCampus while working on his post-graduate degree. The website provided answers to many of the issues that students confront, including housing, internships, part-time employment, and many others. He observed that major e-commerce behemoths were ignoring the eyeglasses sector during this time, which inspired him to take further action and address more significant issues. That is how Lenskart came into being.
Bansal’s career and Lenskart
He founded Lenskart in 2010 along with Sumeet Kapahi and Amit Chaudhary, two other business partners. At first, they exclusively offered prescription contact lenses for sale. By March 2011, sunglasses and eyeglasses were being sold on the Lenskart website. The goal of founding Lenskart, according to Bansal, was to provide vision correction assistance to people all around India. Furthermore, the business conducts nearly 15,000 eye exams daily in an effort to increase awareness of the importance of eye health. Finally, it offers its consumers reasonably priced, fashionable, and high-quality eyeglasses. Bansal added that they make an effort to ascertain what their clients desire and delight them with novel experiences. This has been the key to Lenskart’s success.
Currently, Lenskart has 4000 or more employees. Additionally, the business has more than 500 locations around the nation. Lenskart joined the unicorn club in 2019 after being valued at $1.5 billion. The company doubled its sales in March 2020, going from Rs. 486 crore to Rs. 1,000 crore. Additionally, the business was able to outperform Titan Eyewear, its major rival. Peyush’s perseverance and tenacity allowed Lenskart to grow to new heights. His business consistently prioritizes the needs of the consumer and strives to offer the greatest service. It’s about exceeding your own expectations each time and adding a little joy to the lives of your clients and staff, Peyush remarked.
Lessons we can learn
Peyush Bansal left his work in America and made an unplanned trip back to India. He created Lenskart from the ground up with hard work and a burning desire to succeed; today, it is a billion-dollar business. His achievement is an example to many businesspeople around the world. We must put in a lot of effort and never give up if we want to succeed. So, make an effort to always learn from your mistakes.