Parth Savaliya’s Post

Lenskart: From Frustration to Billion Dollar Disruption Fueled by Innovation The Frustration: Piyush Bansal, tired of overpriced, uninspired glasses, saw an opportunity. The Spark: In 2010, Lenskart was born to bring affordable, stylish eyewear online. Clicking with Innovation: Lenskart tackled online purchase worries with free eye testing and a game-changing virtual try-on feature. Their vast selection of trendy frames, designed by an in-house team, won over a fashion-conscious audience. Owning the Market with Innovation: They revolutionized the industry with India's first automated lens edging unit, ensuring fast, precise production and tighter quality control. This innovation not only reduced costs but also improved delivery times. Beyond Clicks: Innovation Continues: Recognizing the need for in-person experience, Lenskart launched stores with opticians for checkups, creating a seamless online-offline experience. They further innovated with franchise models like "Lenskart Lite" to expand reach into smaller cities. Billion Dollar Vision: Today, Lenskart leads the Indian market and continues to innovate. They've launched private label brands, explored contact lens subscriptions, and even ventured into daily disposable lenses with their "Aqualens" line. Recent acquisitions like Owndays, a Japanese eyewear brand, fuel their global ambitions. Innovation at the Core: Technology: From virtual try-on to automated production, Lenskart embraced tech to enhance customer experience and efficiency. Inventory & Supply Chain: They manage their own inventory, allowing for faster response to trends and tighter quality control. Product Design: An in-house design team ensures a constant stream of trendy and stylish frames. Business Models: Lenskart's omni-channel approach and franchise models cater to diverse customer preferences and expand market reach. Accessibility: Initiatives like daily disposable lenses (Aqualens) prioritize affordability and convenience. Lenskart's story is a testament to the power of spotting market needs, relentlessly innovating across all aspects of the business, and building a customer-centric brand. They continue to disrupt the eyewear industry, inspiring others to see the world a little clearer #Lenskart #EyewearForEveryone #EyeCareMadeEasy #SeeTheWorldClearly #FashionableEyewear #MadeInIndia #InnovationInEyewear #DailyDisposableContacts #EyeTestAtHome #FrameYourStory

🤔 Is it possible for a startup to outshine giants like Tata in the eyewear industry? Let me take you on a journey of vision and innovation! 👓✨ Welcome to #𝗱𝗮𝘆𝟴: Marketing Made Easy, fam! In 2010, when online shopping was booming for everything from candy to plane tickets, one crucial item was missing: quality eyewear. Lenskart.com is a brand that completely disrupted the market, not just by entering it but also by challenging established names like Burberry and Ray-Ban. Founded in 2010 by Peyush Bansal and Amit Chaudhary, an ex-Microsoft engineer with nothing but passion, Lenskart.com quickly became one of the fastest-growing eyewear companies in India. So, how did Lenskart.com achieve this? Here’s a closer look: 1️⃣ 𝗔𝗳𝗳𝗼𝗿𝗱𝗮𝗯𝗶𝗹𝗶𝘁𝘆: In price-sensitive India, Lenskart.com offers quality eyewear from ₹500 to ₹8000. 2️⃣ 𝗖𝘂𝘀𝘁𝗼𝗺𝗲𝗿 𝗘𝘅𝗽𝗲𝗿𝗶𝗲𝗻𝗰𝗲: From in-store try-ons to free eye check-ups, they prioritize customer satisfaction. One of the main contributors to the fantastic customer experience at the Lenskart Store is Soham Desai 3️⃣ 𝗧𝗲𝗰𝗵 𝗜𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝗼𝗻: 3D virtual try-ons? Yes, please! Lenskart.com leverages technology for convenience. 4️⃣ 𝗦𝗺𝗮𝗿𝘁 𝗦𝗲𝗴𝗺𝗲𝗻𝘁𝗮𝘁𝗶𝗼𝗻: From budget-friendly Vincent Chase to premium John Jacob, and kid-friendly Lenskart Air - they've got everyone covered. 5️⃣ 𝗔𝗳𝘁𝗲𝗿-𝗦𝗮𝗹𝗲𝘀 𝗠𝗮𝗴𝗶𝗰: As a 5-year customer, I can vouch for their exceptional service and clever "Buy One, Get One Free" membership offer. The result? A startup is now valued at ₹40,000 crore, outpacing established giants in market penetration. 🔍 What can we learn from Lenskart.com's journey? ➡ Identify market gaps ➡ Prioritize customer needs ➡ Embrace technology ➡ Offer value across segments ➡ Focus on after-sales service What other lessons do you see in Lenskart.com's success story? Share your thoughts below! 👇 Lenskart has one of the best marketing teams in the world, A special thank you to these individuals for helping to establish the brand's recognition Neha Jain Shreya Chowdhury #BusinessStrategy #StartupSuccess #CustomerExperience #Innovation #Lenskart #MarketingMadeEasy

Did you know about 35% of the Indian population requires vision correction? In India, the market is heavily unorganized, with more than 70% of the market share maintained by the unorganized sector even now. And in the organized sector, Lenskart currently holds a whopping 25% of the market. 🤯 From its inception as a simple online website selling eyewear to now becoming a $5B brand in a little over a decade while doing 5 times more revenue than Tata’s Titan Eye+, it has come a long way. 🚀 I'm a recent customer of Lenskart. I really love how they have nailed the omnichannel customer experience, have taken a full-stack approach to solving the problem for the masses, and have an innovation DNA that shows in their mobile features like 3D Try On. 😎 Peyush Bansal, kudos to you and your team for the excellent execution so far. I have learned a lot about thinking long-term and building full-stack solutions from your journey of building Lenskart. 🙏 I hope you all find it useful. 🤞 Don't forget to like, share & subscribe. 🤌🏻 Link to video: https://lnkd.in/d9s2wZfE #ecommerce #retail #lenskart #growth #casestudy

Lenskart.com was established in the year 2010, which is three years after Titan Company Limited Eye+ was founded. Titan Eye+ was once the largest eyewear retailer in the country with over 100 stores and revenue of Rs. 50 crores. However, Lenskart has now taken the lead with a 25% market share and revenue of approximately Rs. 3000 crores. In comparison, Titan Eyewear's revenue stands at around Rs. 700 crores. Here are the 4 key strategies Peyush Bansal used 👇 Lenskart, an eyewear company, understood that eyewear is a highly "touch and feel" category, where a high physical presence is necessary for better conversions. They have 2000+ stores spread across about 230 cities, while their competitor, Titan Eye+, only has around 1000 stores in almost the same number of cities. With more stores comes more customer walk-ins, which leads to more trust and, ultimately, more conversions on the mobile app. The founder of Lenskart, Peyush Bansal, wanted to make sure that the products were affordable. To achieve this, they used offers like "One + One free," "First frame free," "Gold membership," and "Starting from Rs. 500." They followed the principles of value-based pricing to capture the highly sensitive Indian market. Lenskart.com is a rare startup that has a broad range of popular "in-house" brands, from John Jacobs to Vincent Chase. The company targeted different customers with multiple options in different price ranges. They generated high "word of mouth" through virtual trials through the application, introducing advanced features like Blue Cut, and collaborating with mainstream celebrities like Katrina Kaif & Karan Johar. Lenskart mastered its supply chains and inventory management by using AI for stock levels, real-time sales, inventory transit, and product performance. But there's more to come. #lenskart #tata #ratantata

#Kaltak We are living in the era of #quickcommerce, where speed and convenience are critical to meeting evolving consumer expectations. Today’s consumers not only demand high-quality products but also a seamless, efficient experience in every interaction with the brands they engage with. This shift in consumer behavior is driving businesses to continuously innovate and find new ways to enhance #customerexperience. At Lenskart, #innovation is at the core of our values, and we are always pushing the boundaries to create superior consumer experiences. We understand that eyewear is not just a fashion accessory but an #essential item for millions of people. With that in mind, we are committed to delivering our products in the #fastest, most efficient way possible. Our #NextDayDelivery service for power glasses is a clear example of this commitment. We know how important it is for people to receive their eyewear without unnecessary delays, especially when it directly impacts their #dailylives. By ensuring next-day delivery, we aim to make eyewear more accessible and convenient than ever before, catering to the modern consumer’s need for speed and reliability. We are excited to kick off this initiative in the #DelhiNCR region, with plans to roll it out to other cities in the coming months. This is just the beginning as we continue to innovate and redefine the consumer experience in the eyewear industry. #Lenskart #Nextdaydelivery #eyeglass #eyecare

The Lenskart Evolution! 🌟 Lenskart goes beyond eyewear retailing, pioneering a transformation in how people perceive and access vision solutions. 👓✨ 🚨 Problem: Traditional eyewear shopping lacked innovation, and convenience. They also had very limited options and were failing to cater to modern consumers seeking seamless experiences and a wide range of choices. 💡 Solution: Lenskart revolutionized the eyewear industry with online platforms and innovative technologies, offering a vast selection of high-quality eyewear and personalized solutions. Their use of Augmented reality in virtual try-ons has been a game changer. 🔑 Strengths: The focus on innovation drives the development of cutting-edge lens technologies and fashionable frames, fostering customer satisfaction and loyalty. 🔧 Challenges: Overcoming market saturation and establishing operational efficiency. A large number of people still prefer offline shopping ATLAS SkillTech University Lenskart.com Devanshi Choudhary Shriya Agarwal Rutvi Hirani Khushi Patel Darshit Mehta #TeamLenskart #EyewearEvolution #Innovation #CustomerExperience #Tech #Fashion #ProductManagement #product #tech #productmanager

The Lenskart Evolution! 🌟 Lenskart goes beyond eyewear retailing, pioneering a transformation in how people perceive and access vision solutions. 👓✨ 🚨 Problem: Traditional eyewear shopping lacked innovation, and convenience. They also had very limited options and were failing to cater to modern consumers seeking seamless experiences and a wide range of choices. 💡 Solution: Lenskart revolutionized the eyewear industry with online platforms and innovative technologies, offering a vast selection of high-quality eyewear and personalized solutions. Their use of Augmented reality in virtual try-ons has been a game changer. 🔑 Strengths: The focus on innovation drives the development of cutting-edge lens technologies and fashionable frames, fostering customer satisfaction and loyalty. 🔧 Challenges: Overcoming market saturation and establishing operational efficiency. A large number of people still prefer offline shopping Lenskart.com Peyush Bansal Dr. Tapish Panwar ATLAS SkillTech University Kaustubh Thakur Devanshi Choudhary Rutvi Hirani Khushi Patel Darshit Mehta #TeamLenskart #EyewearEvolution #Innovation #CustomerExperience #Tech #Fashion #ProductManagement #product #tech #productmanager

🚀 Excited to share my latest project for the #NextLeapChallenge! 🔍 I recently completed a comprehensive product teardown review of Lenskart, one of India's leading eyewear retailers. This deep dive gave me an opportunity to analyze their business model, product design, customer experience, and more. Here are some key takeaways from my analysis I'm thrilled to be part of the #NextLeap community, pushing boundaries and exploring new heights. #ProductTeardown #Lenskart #Eyewear #Innovation #CustomerExperience #BusinessModel #NextLeapJourney

Watch the video to know how, "In a sea of choices, standing out should not just be an option - it should be our commitment." 👇 ➡️Studies show that 77% of consumers make their purchasing decisions based on brand reputation and their differentiation from the market rather than just product features or price alone. ➡️Look at Lenskart, a pioneer in India’s eyewear industry. By integrating innovative technology like virtual try-on and offering a wide range of eyewear both online and offline, Lenskart has transformed the shopping experience. Follow AddZ for more such informative videos! #BusinessFounder #Strategy #BusinessStrategy #goals #AddZ

The Lenskart Evolution! 🌟 Lenskart goes beyond eyewear retailing, pioneering a transformation in how people perceive and access vision solutions. 👓✨ 🚨 Problem: Traditional eyewear shopping lacked innovation, and convenience. They also had very limited options and were failing to cater to modern consumers seeking seamless experiences and a wide range of choices. 💡 Solution: Lenskart revolutionized the eyewear industry with online platforms and innovative technologies, offering a vast selection of high-quality eyewear and personalized solutions. Their use of Augmented reality in virtual try-ons has been a game changer. 🔑 Strengths: The focus on innovation drives the development of cutting-edge lens technologies and fashionable frames, fostering customer satisfaction and loyalty. 🔧 Challenges: Overcoming market saturation and establishing operational efficiency. A large number of people still prefer offline shopping. #TeamLenskart #EyewearEvolution #Innovation #CustomerExperience #Tech #Fashion #ProductManagement #product #tech #productmanager ATLAS SkillTech University Lenskart.com Peyush Bansal Darshit Mehta Shriya Agarwal Rutvi Hirani Khushi Patel Kaustubh Thakur