Mission

The mission statement of the company says, our mission is to give India a vision, as the fastest-growing eyewear company of the world and the largest presence online.

Lenskart sells prescription eyewear, branded contact lenses, and sunglasses, all of which are personalized to the vision requirements of the customers.

The company aims to provide every customers an access to high-quality designer glasses without shelling out their pocket, and also by cutting out the middleman, using hi-tech robotic technology, and incorporating world-class designs into the products.

They also serve the lenses for men, women, and kids by creating eyeglasses, sunglasses, and contact lenses. The company also aims to provide high-quality eyewear to millions of Indians at affordable prices.

Founder

In 2010, Peyush Bansal along with Amit Chaudhary laid the foundation of Lenskart in Delhi NCR. The company started with an aim of selling contact lenses online. Till the year 2011, it also started its business in eyeglasses and sunglasses.

He was aware of the scenario that states that one-third of the total population of our country needs glasses, but unfortunately they do not have access to them, which makes us the blind capital of the world. Mr. Bansal founded VALYOO Technologies with SearchMyCampus as the first business portal with the support of his two co-founders Amit Chaudhary and Sumeet Kapahi.

Logo

The logo of Lenskart is the Iconic Logo with the company name, which represents the identity of the brand in a simple form, that always shows a clear picture in communicating a feeling, brings exceptionality and versatility to its design, and is associated with the Rajdhani font family. It marks its importance in supporting the Devanagri and Latin writing systems. Scalability is one of the important characteristics of the Iconic Logo.

This helps the business to grow and achieve success. Scalability is important as it ensures that your business can maintain growth once it is achieved. It is versatile and indicates the attribute of it that makes it equally great in all sizes and across all applications.

It marks its presence at every place the designer wants to use it. The design tends to bring passion and energy to the business giving the devotion to work. This highlights the determination of the industry to satisfy its customers and ultimately raise the standard of the working culture.

Business Model

Lenskart is associated with B2C i.e. Business to Customers business model, and marks its presence in selling their products online and offline. They sell their products offline by approaching the franchise business model.

It marks its importance in offering over 5000 frames and glasses and more than 45 different kinds of high-quality lenses, which would attract the interest of the people.

The company brings a team of designers and creators that keeps the company and customers associated with the latest trends. It marks its attribute in providing the free home delivery service in 24 to 48 hours after placing the order.

It provides the people the hassle-free service of selecting a frame, where the executive goes to the home of customers and provides them various frames.

This marked its uniqueness and changed the business model from the root, which brought a great response from the people. This business continues to exist till date.

The company also works with offline stores by the franchise model, and consists of 500 stores across more than 66 cities, and is spread across metro and non-metro locations, by serving more than 4000 people in a day.

Lenskart provides high-quality products to its customers which attracts the interest of the people and keeps them engaged with the services.
It operates on manufacturing, eye technicians, custom service, technology, and logistics which further expand with the growing demands.

The company marks its importance in being the first and only brand to use the robotic technology that provides glasses with an accuracy of 3 decimal places. Its machines are brought from Germany, which are an automated system that allows to inspect lenses, determine the geometric center, and load the lenses for edging without the need of a finishing block.

Unique Approach

Lenskart becomes a unicorn company and marks its importance by being established as a trustworthy brand, which provides more buying options of online eyewear products to consumers.

It has to traipse the interest of the audience to come, buy and experience the convenience of buying eyewear products online.

It marks its attribute in working on both the offline and online distribution channels and is one of the leading e-commerce brands, to accomplish many different marketing strategies to help the business grow.

Customers can order the productions through offline stores. It also marks its attribute by providing the audience facility to check their eyes at home.

The company has extended its hands and spread its fastest-growing business chain all over India. It is associated with above 120 cities, above 500 profitable stores, and more than 50 lakh customers, who are satisfied with the services.

It is registered under a parent company named Valyoo Technologies. Lenskart app comprises the widest college of eyewear and its app is in the number one position for online eyewear shopping. The collection includes computer glasses, reading glasses, contact lenses, anti-glare, goggles, specs, and also gives the facility to try out the eyewear at home followed by eye accessories and prescription glasses.

Revenue Model

Lenskart marks its importance in bringing the Omni Channel business model, which brought its portfolio of contact lenses, sunglasses, and prescription glasses. It serves the customers online as well as offline, which attracts the interest of people towards it, that ultimately helps to bring productivity.

Online Store

This online store can bring easy shopping for the customers, where they can purchase the items by sitting at their home as well, and also spend less time shopping for what they want. This online store offers Eyeglasses, Sunglasses, Computer glasses, Power glasses, and Reading glasses. The people can easily browse through as many items they want at a time and buy whatever they like. The listing of products stays online 24x7 so the customer can see the item whenever they want without going to the store. The sellers too are provided with an option of adding multiple listings or removing items that are sold out.

Offline Stores

Lenskart is expanding its hands in reaching maximum customers through its retail stores exponentially. It also takes steps to take the brand to the height of success. They try to strengthen the omnichannel at all stores to continue to offer the customers a more efficient and smarter shopping experience. Here we do not have to wait for 5 to 7 days for getting the product, which happens with online shopping. One can also touch and feel the product, know how it is then decide if one wants to buy it or not. It also provides the product without delay and also provides a personal recommendation regarding the products.

Pricing And Quality

The company provides the glasses and frames with starting rate of Rs. 400, which is affordable for each class of people. This attracts more people towards it, which helps to bring high productivity to the business. Its reasonable price with high-quality products marks the importance, that escalates the business in hundredfold.

The Omni Channel Method

The company came up with an online business model to bring more productive and earn a little extra. When they came to know that the Indian customers prefer to touch and feel the product before buying a high involvement product, which enabled them to shift to Omni Strategy. They took benefit of the technology to associate a large number of customers with the business, ultimately satisfy their needs. The success of the company is in the Omnichannel approach which is associated with the online, modern shops, and home visits by optometrists on motorbikes.

Brand Ambassadors

The company in October 2017, declared that it had appointed Bollywood star Katrina Kaif to be its first-ever brand ambassador, as it wanted someone who would naturally fit the Lenskart brand proposition of addictive playfulness.

In March 2019, the company added comedian Bhuvan Bam as their first male brand ambassador, as his age is the same as the target audience of Lenskart, which would increase the association of the number of customers.

Bhuvan Bam believes in challenging and loves the association because of his content, and also expresses his love for eyewear. He also says that how an accessory like glasses can change the appearance of a person creatively and make them have a distinct personality.

The Use of Digitization

Lenskart marks its importance in bringing new technology to its best advantage, which offers virtual 3D tools, which allows the customers face-mapping technology and artificial intelligence to help customers decide which frames to try.

In 2019, it declared its intention to invest $10 million in the market after onboarding former Bausch and Lomb commercial director and business unit head, Indranil Chakravarty, which enables in development of its contact lens business and fuel product innovation.

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