How Lenskart started

?
• Lenskart is an Indian optical
prescription eyewear retail chain
• Lenskart was founded in 2010 by
Peyush Bansal ,Amit Chaudhary
and Sumeet Kapahi
• Peyush bansal created Flyrr.com,
a website dedicated to the
American eyewear industry
By:- Rajeswari Barika • Flyrr was gaining a lot of
momentum, so tried his luck in
India and launched Lenskart in
November 2010.
 Initial capital
• Lenskart raised its first round of VC funding
of INR 22 crores from IDG ventures India in
2011
• In February 2013, unilazer ventures
invested 30 crores in their first ecommerce
portfolio
• In March 2018 Wipro Chairman Azim Premji
invested 400cr in the group taking the
valuation of the company to 3000 Crore
• The company had a valuation of $1.5 billion
by Dec 2019 after Softbank invested around
$275 million
• Financial backers of Lenskart include TPG
Growth, International Finance Corp, and
Adveq Management. Ratan Tata (of Tata
Sons) and S Gopalakrishnan (of Infosys)
have also invested in Lenskart
Application of MIS in
Lenskart
• Lenskart is benefitted in various ways
through application of MIS:-
• COO, Lenskart said, “Incorporating MyOperator’s (A
Backend Data Management System) comprehensive,
cohesive technology has definitely eased our daily
operations. Apart from that, the technology has also
immensely reduced the CTC, intend to make this into a long
term association and keep upgrading our backend
processes.”
• Lenskart uses “ CODAC “ to automate verification calls for
COD purchases on their portal.
• The ‘ MisDial ’ service will be used to drive SMS campaigns
for door to door eye checkup aimed at new customer
acquisition and engagement
• ‘ Toll free MisDial ’ services will be used for Mobile app
installation
How Lenskart scaled
up over the year
•Lenskart is currently recognized as one
of the top 3 optical businesses in India
•The company reaches out to over
1,00,000 customers a month
•It has seen a growth of over 200% in the
last 2 years
•Lenskart boasts of having over 5000
styles of eyewear, which is 5X more than
that of any retailer in India
•The Lenskart operating revenues
witnessed less than 1% growth, which
was Rs 900.2 crore in FY20 and became
Rs 905.3 crore during FY21.
•After widening its losses by 78% in the
previous year, Lenskart has turned
profitable by 17 Cr in the financial year
2020
What is the future
outlook of Lenskart ?
• Lenskart India's vision, "Vision to India" aims to reach
the masses by developing a low-cost franchise model

• Lenskart Lite is a model that will help them introduce

the framework in Tier 3 and 4 cities, as well as
expand their presence in Tier 2 cities. It also
introduced regular contact lenses that can be quickly

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discarded

• Lenskart's goal is to provide affordable and simple

eyewear solutions with the aid of their Aqualens
product. It would be extremely affordable to the
daily masses who want both trends and costs at just
Rs.40 per day

• The main aim of Lenskart India is to close the

distance between selected and unselected lenses,
and the company expects to open more than 500
stores in the next two years. It aims to have 2,000
stores open by the end of the next five years