ENTREPRENEURIAL MINDSET

BY Abhinav Kapoor
 ENTREPRENEUR
An entrepreneur is a person who starts,
organizes, and manages a business venture with
the aim of making a profit. Entrepreneurs are
known for their creativity, innovation, and risk-
taking abilities.
 EARLY LIFE OF PEYUSH BANSEL
• Peyush Bansal is an Indian Entrepreneur and businessman. He was born
in Delhi where he completed his schooling at Don Bosco School.
• After completing his schooling, he prepared for IIT but didn’t get
through it. He then decided to study engineering at a foreign university
and after so much hard work and effort, he finally got admission to
McGill University, Canada. He got admission into Bachelor of
Engineering Honours in Electrical- IT, Control and Automation. While
doing their studies he used to work as a part-time receptionist where he
developed his interest in computers and coding.
• After completing his studies at McGill University, he started his career
as a Program Manager in a popular Tech Giant- Microsoft, USA. He
worked there for nearly one year from January 2007 to December 2007.
He also completed (MPEFB- Management) from IIM, Bangalore.
• He left his job and in 2008 he moved to India. Despite not having a
business idea and experience, he decided to start a new business with a
small capital that is has earned from his previous job.
• In December 2007 he started a company basically an online portal
(SearchMyCampus.com) to solve the various issues of college students
such as housing, coaching, jobs, transportation, books, etc.
• After this, he with his friends founded Valyoo Technologies Pvt Limited
which is now known as Lenskart.
 LENSKART
• Lenskart is an Indian eyewear company that was founded in 2010 by Peyush Bansal, Amit Chaudhary,
and Sumeet Kapahi. The company started as an online portal for eyewear sales, but later expanded to
include a brick-and-mortar retail presence.
• In its early years, Lenskart focused on providing affordable eyewear to Indian customers. The company
worked with manufacturers to produce glasses locally, which helped to reduce costs and keep prices
low. It also offered a "Home Eye Check-Up" service, where customers could get their eyes tested at
home and order glasses online.
• As the company grew, Lenskart began to focus more on customer experience and innovation. It
introduced a "3D Try On" feature on its website, which allowed customers to try on glasses virtually
before making a purchase. It also started offering more high-end products, including designer eyewear
and contact lenses.
• In 2016, Lenskart launched its first brick-and-mortar store in Delhi. Since then, the company has
opened hundreds of stores across India, and has also expanded to Singapore and the Middle East. The
company's retail stores offer a wide range of eyewear products, as well as optometrist services and eye
check-ups.
• Today, Lenskart is one of the leading eyewear companies in India, with a large and loyal customer base.
The company has received significant funding from investors, including SoftBank, Kedaara Capital,
and TPG, and has been recognized for its innovative approach to retail and customer service.
• Lenskart launched the eyewear brand John Jacobs in 2017. In
October 2017, Lenskart signed up its first brand ambassador
Katrina Kaif.
• In March 2018, Wipro’s Chairman Azim Premji invested ₹4 crore in
the group, taking the valuation of the company to ₹3,000 crore

• The company also saw investments from Ratan Tata and

Kris Gopalakrishnan.
• he company reached a valuation of $1 billion in December 2019
after SoftBank invested around $275 million
• In June 2022, Lenskart announced the acquisition of a majority
stake in the Japanese eyewear brand Owndays in a cash-and-
stock deal which valued Owndays at around US$400 million
 OBSTACLES FACED BY LENSKART
• In fact, there are three core problems:
• One is access- There are very few shops for eyewear
considering the number of people who need it. If we look at the
number of mobile phone shops and the number of eyewear
shops, we’ll know the difference.
• The second is awareness that it’s not such a big deal to get your
eyes tested.
• The third is making it affordable.
 SUCCESS STORY OF LENSKART
• Recently the platform has been looking to invest to set up its
second manufacturing plant in India. In recent times, the company has
also invested in an AI-powered software platform Tango Eye.
• The prevailing pandemic and the restrictions caused by it has led to the
platform gaining a higher degree of online tractions. As recently
reported by Inc42, the company’s online sales have risen from 2O%to
40% of its business. Online sales are presently dominating by
bringing 90% of the company’s sales as opposed to the 70% fetched
prior to the pandemic.
• The platform has also revealed its plans of opening up to 200-300 stores
in the year 2020. As of now, Lenskart has about 600 stores
THANKING YOU