ENTREPRENEURSHIP AND ETHICS

TOPIC - LENSKART

SUBMITTED TO – PROF. VISHWANATHAN

SUBMITTED BY – SHAIK IMRAN
SANTOSH KUMAR
SYED FAZEEL
THOUSIF
SYED YASEEN
THE STORY OF LENSKART

Slogan – “Log on, Play on!”

Founder : PEYUSH BANSAL
 COMPANY PROFILE
• Type – An e-commerce company
• Founded - 2010
• Founders – PEYUSH BANSAL, AMIT CHAUDHARY AND
SUMEET KAPAHI
• Headquartered – New Delhi. ( 3 offices in Delhi, 1 in
Mumbai, 1 in Kolkata and a Technology office in
Bangalore.)
• Products – Sunglasses, Eyeglasses, Contact
Lenses
• Branches -160+ Stores in India
• Website-www.lenskart.com
• Annual revenue – Rs.350 crore
• CEO – Peyush Bansal
 VISION
India is the blind capital of the world.
• 15 million people in India are blind, which is 50% of the blind people of
the world.
• 75% of these are cases of avoidable blindness. Thanks to the country's
acute shortage of optometrists and donated eyes for the treatment of
corneal blindness.
• 153 million people in the country need reading glasses but do not have
access to them.
• Our country needs 40,000 optometrists. Unfortunately we only have
8,000.
Revolutionize the eyewear industry in India
• Lenskart's aim is to help drop this number marginally in the coming years,
which can be achieved by providing high quality eyewear to millions of
Indians at affordable prices, giving free eye check ups at home and by
extending our services to the remote corners of India.
 MISSION
• Make customers by doing something that has never been
done before in the eyewear industry. It began with an aim. An
aim to provide every Indian access to high-quality designer
glasses without shelling out their pocket. We rocked our
brains. We broke our backs to come up with a plan that will
not just change the way this industry works, but also will
completely sweep customer off their feet. It can only be
achieved if we provide.
 THE BRAIN BEHIND LENSKART
• Peyush Bansal is the founder of Lenskart.
He obtained a degree in Bachelor of
Engineering from McGill University in
Canada, after which he worked as a
Program Manager at Microsoft in
America. A year later, he returned to
India to pursue his Post-Graduate
diploma in Management for Executives
from IIM, Bangalore. In 2008, he set up
Valyoo Technologies with
SearchMyCampus as the first business
portal. In 2010, Lenskart, a first of its kind
online shopping portal for eyewear came
into existence.
• The Journey
Co-founded by Peyush Bansal, Amit Chaudhary and Sumeet
Kapahi in 2010. Lenskart has a young and passionate team of
2700 people, with 3 offices in Delhi, 1 in Mumbai, 1 in Kolkata
and a Technology office in Bangalore. Lenskart’s mission is to
give India a vision. Lenskart.com is India’s fastest growing
eyewear company and largest eyewear company online.
Lenskart’s products range from prescription eyewear, branded
contact lenses and sunglasses, all equipped with the
customers’ eye power.
• Lenskart believes customer satisfaction is of utmost importance. The
company is continuing to grow 15% MOM and changing the landscape
of Indian eyewear with its unique services and products such as:
• Buying specs online with “Virtual Try On”
• Home Eye Check-up and home trial service spread across 11 cities in
India,with over 15000 customer visits happening every month. We
have more than 200 opticians who service customers at the comfort of
their home.
• 450+ stores in 100+ cities pan India (including tier 2 and 3 cities) act as
centers for people to get their eyes checked, touch and feel the
products and book orders online as well as get their post-sale
adjustments done
• Majority of Lenskart eye-frames and prescription lenses are designed
in-house and come to consumer directly from manufacturing to retail.
Post a spectacle order is received, each frame is individually fitted.
 CUSTOMER FOCUS
• We intend to WOW customers by doing that has never been
done before, a revolutionary approach to eyewear in India. An
unimaginable offering that would sweep them off their feet. A
never before combination of:
• WOW VARIETY Over 3000 styles
WOW QUALITY Made by robots
WOW PRICES No middle man, no extra cost
WOW ACCESS  Covering over 1000 cities
• Lenskart believes customer satisfaction is of utmost importance.
The company is continuing to grow 15% and changing the
landscape of Indian eyewear with its unique services and
products such as:
• Buying specs online with “Virtual Try On”
 FRANCHISEE
• Lenskart.com is India's fastest growing eyewear business today. Our
mission is to give vision to every Indian at affordable price. We are looking
for entrepreneurs to partner with us to revolutionize eyewear in India.
We already have 160+ profitable stores countrywide. We also have
special programs for women entrepreneur.
• MARKET WATCH
• Indian eyewear industry is projected to reach a stupendous $14856.9 million by
2018.
• Its revenue stood at $1247 million in FY 2007, increasing at a CAGR of 27%
between FY 2007-2013.
• BRAND USPs
• India's fastest growing eyewear company.
• 200+ successful partners.
• Centralised manufacturing and simplified front-end.
• SUPPORT & BENEFITS
• Zero Stock Risk
• Site selection and interior furnishing
• Personnel recruitment
• Branding support by experts
• Training
• REQUIREMENTS
• Educated, energetic & customer-obsessed
partner
• Investment : INR 30-35 Lakhs
• Qualification : 12th and B tech
Brand ambassador – Katrina Kaif , Bhuvan
Bam
Franchisor – Lenskart
Franchisee fee –Rs.2,29,000
Expected ROI – 20% 
Area – 300-500 square feet
• Recruitment – The franchisee will be provided with
necessary training for a certain period covering all aspects
of conducting franchise. The franchisee will be presented
with detailed operating manuals, and the preferred
training location will be onsite. Also, at the time of opening
the franchise expert guidance from Head office will be
available.
• Other terms and condition – The agreement of the
franchise which contains the contract for the specified
term period of five years from the date of the contract
signed. One can also renew the franchise once the
agreement period is terminated
• Royalty fee – 30% of net sales
 Award
Lenskart.com Bags Gold
& Silver Awards at
Express I.T. Awards 2016
by Honourable union
minister Nirmala
Sitharaman.
THANK
YOU