Vaishali Advani’s Post

🌟 𝐅𝐫𝐨𝐦 𝐌𝐨𝐝𝐞𝐬𝐭 𝐁𝐞𝐠𝐢𝐧𝐧𝐢𝐧𝐠𝐬 𝐭𝐨 𝐚 𝐁𝐢𝐥𝐥𝐢𝐨𝐧-𝐃𝐨𝐥𝐥𝐚𝐫 𝐕𝐢𝐬𝐢𝐨𝐧: 𝐋𝐞𝐧𝐬𝐤𝐚𝐫𝐭'𝐬 𝐓𝐫𝐢𝐮𝐦𝐩𝐡 𝐒𝐭𝐨𝐫𝐲 Curious about how Lenskart.com morphed into the eyewear titan it is today? Get ready for an adventure, folks, as we delve into a tale of ingenuity, tenacity, and dominating an untapped market 🚀 It all kicked off in 2010 when Peyush Bansal , armed with a dream and a hefty dose of frustration over limited eyewear choices, set out to revolutionize the Indian scene. Starting with contact lenses, Lenskart swiftly broadened its horizons to encompass eyeglasses and sunglasses, 𝐨𝐟𝐟𝐞𝐫𝐢𝐧𝐠 𝐮𝐧𝐩𝐚𝐫𝐚𝐥𝐥𝐞𝐥𝐞𝐝 𝐯𝐚𝐫𝐢𝐞𝐭𝐲, 𝐚𝐟𝐟𝐨𝐫𝐝𝐚𝐛𝐢𝐥𝐢𝐭𝐲, 𝐚𝐧𝐝 𝐜𝐨𝐧𝐯𝐞𝐧𝐢𝐞𝐧𝐜𝐞. But the road wasn't without its bumps. Lenskart encountered hurdles such as instilling trust in an online-exclusive model, surmounting logistical obstacles, and navigating a fragmented market. Nevertheless, they persisted, focusing on: 𝐂𝐫𝐚𝐟𝐭𝐢𝐧𝐠 𝐚 𝐜𝐮𝐬𝐭𝐨𝐦𝐞𝐫-𝐜𝐞𝐧𝐭𝐫𝐢𝐜 𝐞𝐭𝐡𝐨𝐬: From virtual try-ons to home trials, Lenskart placed a premium on a seamless shopping journey. 𝐈𝐧𝐯𝐞𝐬𝐭𝐢𝐧𝐠 𝐢𝐧 𝐞𝐱𝐜𝐞𝐥𝐥𝐞𝐧𝐜𝐞 𝐚𝐧𝐝 𝐝𝐢𝐯𝐞𝐫𝐬𝐢𝐭𝐲: Teaming up with premier manufacturers and providing an array of styles ensured there was something for everyone. 𝐄𝐦𝐛𝐫𝐚𝐜𝐢𝐧𝐠 𝐚𝐧 𝐨𝐦𝐧𝐢𝐜𝐡𝐚𝐧𝐧𝐞𝐥 𝐬𝐭𝐫𝐚𝐭𝐞𝐠𝐲: Blending online ease with brick-and-mortar stores for tailored service empowered customers with choice. 𝐂𝐡𝐚𝐦𝐩𝐢𝐨𝐧𝐢𝐧𝐠 𝐢𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧: Introducing technologies like 3D eye scans and AI-driven recommendations revolutionized the eyewear buying experience. The outcome? Lenskart now flaunts: 1. Over 500 physical outlets dotted across India. 🇮🇳 2. Millions of delighted patrons. 3. A valuation exceeding $1.5 billion. 4. And the coveted title of **India's premier eyewear brand! 𝐖𝐡𝐚𝐭 𝐢𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐜𝐚𝐧 𝐰𝐞 𝐠𝐥𝐞𝐚𝐧 𝐟𝐫𝐨𝐦 𝐋𝐞𝐧𝐬𝐤𝐚𝐫𝐭'𝐬 𝐣𝐨𝐮𝐫𝐧𝐞𝐲? - Spot market gaps and deliver inventive solutions. - Place customer needs atop the priority list and offer a seamless journey. - Embrace technology and perpetually evolve. - Forge a robust brand identity and stay unwavering in your values. What are your reflections on Lenskart's odyssey? Drop your thoughts below! #lenskart #EntrepreneurialJourney #India #innovation #business #startupindia Craving more success sagas from the content cosmos? Keep an eye out for my upcoming post!

#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

Hi Lenskart.com Today I had a discussion with your sales team and the experience was far behind from the expectation. Just bought a specs and it got broken. Obviously it is under warranty. The company is refusing for exchange or any other facilities to reuse that product. Not sure what that means by warranty. Simply they are saying that go and buy another one. Is there any integrity that stands with this? I think no. Non-branded companies also cover the breakage issue. Moreover, Lenskart is not at all up to the mark which products people can use. Also very expensive. Please work as a customer centric and see the value of normal people other than facilitate Bollywood celebrities. #lenskart #customerservice #poorexperience #noncooperative

Kudos to Peyush Bansal and Lenskart.com team for achieving this massive milestone. Peysuh was our first guest in the 2nd season of the Blume Podcast last year, where he spoke to Karthik B. Reddy at length about his rationale and vision for building the factory. Here's a snippet from his conversation with us. 🎙 "So we said, okay, if we are so confident about doing this so why not take a bold bet, let's put a hundred million dollars into building a factory, which can serve 50 million people a year, because if you want to serve 200, 300 million, then it would be required. So let's make a factory to serve 50 million. And then we'll make another one to serve a hundred and make another one to serve another 200. So by the end of it, we are serving 350 million people, and 700 million people in India need glasses. So that's how we'll get to 50%. That’s the math we were thinking in our heads when we made that bet." Fun fact: Peyush said the inspiration to build the factory didn't come from a traditional manufacturing player but from a telecom giant! You can check out the full episode on our website here: https://lnkd.in/gqUUF3dh

🚀 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

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

This company transformed eyewear into a fashion statement, building a $4.5 billion empire. Yes, I'm talking about none other than Lenskart, which made a profit of ₹260 Crore in FY23. But was it easy? No, not at all. Lenskart strategically tackled three key challenges: Firstly, Lenskart knew that their biggest competition was local eyewear shops, which had already established their customer base in various parts of India. So, before going offline, Lenskart went online to cater to all of India. They offered a 3D trial facility on their online platform, allowing customers to see which glasses suited them best. Secondly, they understood the Indian mindset and offered various attractive deals, such as giving customers their first frame for free. Note that the main revenue in this business comes from selling lenses, not frames. So, they used the free frame as a hook to attract customers. Lastly, they positioned their glasses not just as a necessity but as a fashion accessory. They chose brand ambassadors like Katrina Kaif, Kartik Aaryan, Kiara Advani, and Karan Johar, who are fashion icons. Lenskart offers a diverse collection of over 5,000 eyewear styles, which is 5 times more than any retailer in India. Today, Lenskart has over 1 million customers and has opened more than 1,300 offline stores in over 300 cities. Share this with all your entrepreneur and marketing expert friends! And for more such viral-worthy information, keep connecting with Viral Kara Do! Lenskart.com Peyush Bansal #eyewear #lense #business #marketing #strategy #viralkarado

Lenskart.com’s revenue skyrocketed from INR 1,417.7 Cr in FY22 to an astounding INR 3,788 Cr in FY23, marking an incredible 152% growth. This highlights the effectiveness of cost-intensive models like D2C and modern retail, where scaling leads to improved margins. With the number of online shoppers in India expected to surpass 500 million by 2030, the opportunities for brands are immense. As India embarks on an aspirational economic journey, reaching the coveted INR 1,000 Cr revenue milestone is increasingly within reach. Key Insights: Total Operating Revenue: INR 3,788 Cr (+152% YoY) Sale of Goods: Prescription Eyewear: INR 3,252 Cr (+188%) Other Goods: INR 357 Cr (+23%) Sale of Services: Membership Fee: INR 51 Cr (+10%) Training Fees: INR 17.1 Cr (new category) Service Fee: INR 13.3 Cr (+1186%) Home Eye Check-Up Income: INR 1.4 Cr (new category) Other Income: INR 139.9 Cr (+21%) Expense Breakdown: Total Expenses: INR 4,025 Cr (+133% YoY) Procurement Costs: INR 1,368 Cr (+128%) Employee Benefit Expenses: INR 717.5 Cr (+193%) Commission & Incentive Expenses: INR 583.3 Cr (+91%) Advertising, Promotional Expenses: INR 293.8 Cr (+25%) Other Expenses: INR 1,062.4 Cr (+211%) Net Loss: Reduced to INR 63.7 Cr (-38% YoY) Conclusions: Robust Revenue Growth: Driven primarily by prescription eyewear sales. Diversified Income Streams: Significant increases in service fees and new revenue streams like training fees and home eye check-up services. Cost Management: Despite increased expenses, net loss reduction indicates better cost management and operational efficiency. Future Potential: Strong growth trajectory and effective expense management position Lenskart for future profitability and expansion. #D2CSummit2024 #Lenskart #RetailGrowth #DigitalTransformation #BusinessInsights #ModernRetail #IMTHOBSERVES

#IRExclusive North Indian value fashion retailer #Citykart targets to open around 300 stores over the next three years, with an immediate goal of opening 40-45 stores by the end of current fiscal year. The 9-year old brand now operates 107 #retailoutlets in 76 cities across nine states. Click on the link below to know more! https://lnkd.in/gRh_JJkt Citykart I Sudhanshu Agarwal I Anagha R Ratna #valuefashion #retailexpansion #valueretail #newstores #retailnews #retailtrends #retailsector #retailindustry #retailing #retailresults #retailupdates #businessnews #retailgrowth #retailindia #retailsectornews #retailtrends #retailbusiness #ir #IndiaRetailing

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