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Lenskart Case Study: History, Valuation, Product, Services & Growth

Lenskart is an Indian eyewear online portal founded by Peyush Bansal in November 2010 in Delhi. Co-founders Amit Chaudhary and Sumeet Kapahi joined Peyush at a later date. The company’s portfolio of products ranges from prescription glasses, contact lenses to sunglasses.

HISTORY Peyush, is the founder & CEO of the company Valyoo Technologies, which is the parent company of LensKart. He pursued his Bachelor’s in Electrical Engineering — IT, Control & Automation from McGill University, Canada in 2006. Before he returned to India to pursue his PG in Management from IIM, Bangalore Peyush worked as a Program Manager with Microsoft for a year.

During his IIM days, he launched his company, Valyoo Technologies with SearchMyCampus as the first business portal in 2007. It was a classifieds site for students that went beyond accommodation to books, part-time jobs, carpool facilities, and internship opportunities. His motto was to solve any and every issue that a student might have.

SearchMyCampus was a big hit, but Peyush wanted to explore it in the e-commerce world. While exploring opportunities, he came across the eyewear segment which was even ignored by the big boys of e-commerce, viz., Amazon & eBay. He launched Flyrr.com — which was focussed on the eyewear market in the US. Flyrr was gaining good traction and this prompted him to test the waters in the Indian markets and launched Lenskart in November 2010. They started with just selling contact lenses and added eyeglasses a few months later. Finally, in March 2011 they added sunglasses to their portfolio and placed themselves in the fashion accessory segment.

VALUATION The company had a valuation of $1.5 billion by Dec 2019 after Softbank invested around $275 million. Peyush Bansal, a former Microsoft employee, founded Lenskart in 2010 along with Amit Chaudhary and Sumeet Kapahi.

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. In March 2018 Wipro Chairman Azim Premji invested 400cr in the group taking the valuation of the company to 3000 Crore. By 2016 Lenskart had become one of the two top optical chains in India, along with Titan Eye Plus. Its manufacturing facility in Delhi manufactures 300,000 glasses a month.

PRODUCT & SERVICES -Eyeglasses. -Premium Eyeglasses. -Sunglasses. -Shape. Wayfarer. Oval. Rounders. Cat Eye. Size. Small. -Brands. Bausch and Lomb. Johnson & Johnson. Alcon. -Color Contact Lenses, and many more.

GROWTH Lenskart becomes the last unicorn company in the year 2019. Lenskart is a New Delhi based startup founded in 2010. Lenskart app is with the widest collection of Specs, Sunglasses, Goggles, Frames, Anti Glare, Contact Lens, etc. Lenskart is India’s No.1 Online Shopping app for Specs, Sunglasses, Goggles, Frames, Anti Glare, Contact Lens, Reading Glasses, Computer Glasses, Try Glasses at Home, Prescription Sunglasses & Eye Accessories.  Lenskart adopted an innovative approach to take customers in conversation with Lenskart via emails throughout the buying cycle. Unlike the traditional way of communication where customers were just informed about the status of their order, the company adopted the base of the full-duplex model where customers were able to share views, express their thoughts in the process and be virtually engaged. By giving importance to customer experiences and engaging in open communication, the brand becomes more human and builds trust.

Lenkart is providing 5000 styles of eyewear to choose from and gives free home delivery with 14 days replacement guarantee. From sunglasses to reading glasses to contact lenses, Lenskart makes everything in eyewear categories. Now with a chain of offline stores, Lenkart has acquired both online and offline markets of eye wears.

INTERNATIONAL OPERATIONS 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. In March 2018 Wipro Chairman Azim Premji invested 400cr in the group taking the valuation of the company to 3000 Crore. By 2016 Lenskart had become one of the two top optical chains in India, along with Titan Eye Plus. Its manufacturing facility in Delhi manufactures 300,000 glasses a month. Lenskart also has a factory in Zhengzhou (China) which manufactures about 50% of the production. Lenskart launched the eyewear brand John Jacobs in 2017 and for that brand aimed to touch Rs 500 crore in revenue in two years. In 2018 the company became profitable (EBITD).

The company is in talks with the Japanese group SoftBank as well as the private equity firm Kedaara Capital for investment. These investments will make Lenskart next unicorn.

In October 2017, Lenskart’s first brand ambassador was Katrina Kaif. In March 2019 the company roped in Bhuvan Bam as their first male brand ambassador.

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Aparna Rawat

Aparna Rawat is a business content writer for The IndianPreneur.

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💡[Case Study] Lenskart’s Strategy that Changed Indian Eyewear Industry Forever

[10 min read] learn how lenskart beat reliance and tata, one strategy at a time. here’s a deep dive that you just can’t miss readon👇🏼.

One word: Lenskart. 

Vision of the company?

To bring ‘Vision to India'.

According to WHO, only one-third of the 100 million Indians who need a pair of spectacles have access to it.

Lenskart set out to change this. 

And today, it has become a household name, with stores covering about 313 cities in the country.

The Indian eyewear market went from generating a revenue of $3.17 billion in 2014 to an estimated revenue of $6.10 billion in 2024. The market is set to grow at a 7.54% CAGR between 2024 and 2028. 

While about 80% of this market is dominated by unorganised players, Lenskart captures around 41% share in the organized eyewear market.

It has even beaten giants like Tata's Titan and Reliance's Vision Express!

In this piece we will discuss:

Eyewear problems before Lenskart

The supply chain problem solved by Lenskart

The real hero of the eyewear industry revolution

What are other eyewear players doing?

Is the Lenskart model easy to replicate?

The future of eyewear industry

Lenskart Came, Saw & Conquered  

Before the arrival of Lenskart in 2010, the Indian eyewear market was flooded with:

mediocre quality products, 

limited design options, and

unorganised players offering no guarantees and no warranties. 

Amongst all these deficiencies, three things were high in this market: 

the lead time for deliveries, 

the margin of error in the end products and 

the cost of products to consumers. 

Lenskart simply tried to solve these real customer problems: 

Robotic automated eye-testing: Remember how it would take days to adjust into your new pair of glasses only to later realise that the power in the eyeglasses does not match the power in your eyes? Where traditional eyewear shops could not guarantee a 100% accuracy, Lenskart brought in best-in-class robotic technologies from Germany, offering zero error tolerance. 

Virtual try-ons, easy returns: Remember when buying clothes without knowing how they would look on you seemed ridiculous? Then came the e-commerce boom that eased you into buying them online without any trial with features such as easy returns and exchanges. 

But hey, specs are not socks. You would not buy a pair to match all your outfits. So when it came to buying eyewear, you had to be absolutely sure that they suit you. 

To solve these user apprehensions without which online shopping of eyewear would be a dream, Lenskart came up with a brilliant use of augmented reality (AR) technologies to enable virtual 3D try-ons for its customers. 

At-home and in-store eye checkups: A doctor’s visit was almost mandatory every time you needed to check your eye power. Lenskart realised the acute shortage of optometrists in the country and it started to offer at-home eye checkups by trained optometrists. Not shortly after, it became apparent that there were many people who could not even afford eye-check ups. Lenskart offered free in-store eye checkups, truly making vision correction much more accessible in India.

Good quality at affordable prices: One of the biggest problems in the Indian eyewear market was that eyewear prices were at extreme ends. Either you could opt for cheaper products with low quality or you had to spend a bomb for the good quality glasses. Only a very few could afford to opt for the high quality, high price products considering the need to often change eyeglasses due to a change in the power. 

Lenskart identified a gap in the market where no one was selling good quality products in a mid-range segment that made customers say “paisa vasool!” It eliminated intermediaries in the supply chain and started to offer products at highly competitive prices.

Rapid delivery: Most e-commerce businesses had to compete with the instant gratification of offline purchases with a considerable time for delivery in online shopping. But where customers had to wait for 6-7 days to get delivery of glasses purchased at retail stores, Lenskart was offering a 72-hour delivery.

Hassle free returns: Most products that one would purchase online could be easily sold to other customers if returned. However, that does not hold true with spectacles which are customised for each user. But Lenskart was offering a 14-day no questions asked return policy, to help the users find ease in online eyewear shopping.

The Eyewear Industry Supply Chain

Like many other consumer products, eyeglasses were also predominantly imported from China. Following a traditional supply chain mechanism made eyeglasses an expensive affair. 

How was the traditional supply chain structured?  

Glasses were primarily imported from China by importers which then changed hands from distributors to retailers before reaching the end customer. At each leg of the supply chain, each intermediary kept a slice of the pie for themselves, increasing the cost of the product to the end customer. 

What did Lenskart do when it entered the market?  

They did what typically all e-commerce players were doing at that time. They became the sole middleman between the manufacturer and the customer, eliminating the importers, distributors and retailers of the supply chain. In doing so, they also eliminated the excess margins at each step of the chain.

How did Lenskart gain competitive advantage with a lean supply chain?

Affordable pricing by eliminating intermediary costs.

Design and quality were much more in Lenskart’s control owing to its direct relation with manufacturers.

Reduced lead time as products were directly sourced from manufacturers.

Ease of business by eliminating middlemen helped Lenskart deal with hassles of collections, unsold inventories and write-offs that grappled the traditional supply chain.

The Real Hero of the Eyewear Industry Revolution: Tech 

What technologies, you ask? 

Let’s go through some of the most significant technological advancements in the eyewear industry.

Manufacturing: went from a laborious and heavy machinery reliant process to a computer-aided and automated process. As a result, higher quality products are produced with higher efficiency in lesser time.

Features: Lenskart, through its continuous research, development and innovation began offering lighter glasses with more features such as anti-glare glasses and blue light filtering lenses. 

Automated testing: The accuracy of diagnosis in vision correction was not an easy problem to solve.By using zero error machinery and enabling at-home eye tests by trained optometrists, customers could now get their prescription without even stepping out of their homes. 

Virtual try-ons: The use of cameras on smartphones and augmented reality (AR) helped solve the trial-before-purchase. Customers could simply upload a selfie and get recommendations based on size and style. They could even try on the glasses virtually from the comfort of their homes!  

AI and machine learning: AI and ML provide personalised recommendations to customers to complement their facial features.

Other Players in the Eyewear Market 

So, is Lenskart the “gunda” of the eyewear market? 

Maybe, but it is not without a fight. 

The lure and potential of India’s growing eyewear industry is lucrative and with about 80% of the market still unorganised, there is plenty of fish in the sea for everyone.

In fact, when Lenskart began its operations in 2010, it wasn't the only player. 

There was already one player that was rapidly growing in the retail market. It had the backing of one of the most renowned and trusted brands in India – the Tatas. 

Yes, we're talking about Titan Eyeplus, which was already 200 showrooms strong in 2011. 

But today, Lenskart’s market share is 5 times that of all of Titan’s Eyewear brands like Titan Eyeplus and Fastrack put together. 

When Tata is in the play, how can Ambani be far behind! 

While Tatas were opening Titan Eyeplus stores across the country, Reliance entered into a joint venture with Europe’s Grand Vision opening a chain of Vision Express stores in the retail markets.

So how did Lenskart manage to surpass these companies with deep pockets and established brands in becoming a household name for eyewear? 

Lenskart realised very early on in the game that while its D2C proposition is great, the eyewear industry cannot go completely online. 

It adopted an omni-channel strategy. 

Yes, while most D2C brands are now moving from an online-only to an omni-channel presence, Lenskart did this on day 1. 

Not just legacy brands like Tata and Reliance, today the eyewear market has a number of new age D2C players like Specsmakers, Cool Winks, Eye My Eye and ClearDekho, walking on a path paved by Lenskart. 

Lenskart, in FY23, was way ahead of its competition not only in terms of market share but also in terms of revenue. Where Lenskart reported a revenue of 3,780 crore rupees in FY23, Titan’s eyewear segment reported a revenue of 689 crore rupees . 

Not just in revenue, Lenskart has an upper hand even in its physical presence across the country, having over 1300 stores across 313 cities in India, 1.5 times the number of Titan Eyewear stores in India.  

While Lenskart is clearly winning the volume game, it reported a profit of approximately 6.8% against its revenue in FY23 (amounting to Rs. 260 crore ) recovering from a Rs. 100 crore loss reported in FY22 . 

Titan Eyewear, on the other hand, earned a profit at about 14.2% (amounting to 98 crore rupees ). 

While information on profitability of other players is not publicly available, it would be interesting to see whether Lenskart can make money and still stay at the top.

Is Lenskart’s Model Easy to Replicate?

There is no denying that Lenskart did bring a brilliant vision into the India eyewear industry that forced even the biggies like Titan and Reliance to start offering online shopping experience to consumers. 

The success of Lenskart did, undoubtedly, inspire many other D2C players into the market. 

But this brings us to the question: while Lenskart is reaping the fruits of first mover advantage, has the Lenskart model now become easy to replicate?

The barrier of entry is easing with the increase in access to institutional capital and Lenskart has already done the back breaking work of getting the market accustomed to ease of online purchase of eyewear. 

Today, all the major players in the market offer the same technological innovations and value propositions offered by Lenskart – be it virtual try-ons or affordable products or at-home eye testing.

Will Lenskart manage to retain or widen the gap between itself and its competitors or is it a matter of time before they catch up? 

Well, even today, there are a few things that set Lenskart apart from its competition. 

One of the biggest cards in Lenskart’s favor is its manufacturing setup . Over its time in the industry, Lenskart realised that to deliver true value to customers, it must have better control over production. Today, it operates the world’s largest automated eyewear manufacturing facility in India. Its vertical integration has enabled it to not just reduce its reliance on imports, but also to effectively manage turnaround times and inventory across the supply chain.

Second, Lenskart has exhibited great strength in its innovative solutions solving real consumer problems. One such example involves showcasing the true essence of its omni-channel presence by offering a pick-up-from-store service, wherein, the customers would select and order from the online store and pick up the ready product from the nearest store after trying it in person and being fully satisfied with the fit.

Future of Eyewear Industry

Like any other industry, the eyewear industry is bound to get more competitive and saturated with time, but the future of the industry’s favor will lie in continuous innovation. 

Even today, there is a huge section of the market that remains unorganised and a consumer segment in Tier 2 and Tier 3 India is still untapped. 

New and emerging companies, like ClearDekho are targeting these untapped markets and mining for exponential value.

While Lenskart is expanding its presence in the global market, Google and Apple are taking technological advancements and innovations to new heights by developing smart eyewear. With a combination of augmented reality, advanced computer vision and artificial intelligence, the end product could end up replacing our omnipresent smartphones.

As the market grows and evolves, the customer-centric approach and ability to innovate and demonstrate agility will determine the success of eyewear brands in the industry. 

What would be key to note would be whether the businesses will grow with the support of hefty discounts and cash burns or whether sustainable, profitable businesses can emerge as competition increases.

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Lenskart Case Study: Business, Marketing Strategy & Success Story

Today, every 3rd person of the total Indian population needs spectacles. The growth of technology has led to the increased use of laptops. A sedentary working style and constant gazing at the laptop screens have led to many eye problems. Some of them are:

• Hyperopia (farsightedness,i.e. difficulty in seeing close objects)
• Myopia (nearsightedness, i.e. difficulty in seeing far objects)
• Astigmatism (blurred distant or near objects)
• Presbyopia (gradual decrease in visibility of near objects in 40+age group)
• Frequent headaches, and others.

All these are medical conditions related to poor visibility. So good glasses have become an essential commodity.

The eyewear industry of India:

The struggle begins for a person to get involved in physical shopping for glasses. It requires a lot of patience and time to visit an optician. You need to get your eyes tested and select an apt frame for the glasses. Also, wait a long time to receive the selected eyewear. To sum up, eyewear has become a need for some and a fashion element for some. So the sale of eyewear has increased over the past few years. Every day approximately 15 lacs spectacles are being sold in the Indian market . The eyewear industry saw a revolutionary new turn in 2010, with the emergence of Lenskart. 

Establishment:

Lenskart is a Faridabad based optical prescription eyewear retail chain. Founded by Peyush Bansal in 2010. It revolutionized the unorganized eyewear industry of India. The founders focus on three main pre-existing problems of the Indian eyewear industry:

• Eyewear was being considered medical equipment and the wearer did not feel good about wearing it
• Branded eyewear had higher prices starting from Rs. 1500.
• People had very low accessibility to opticals in India.

The company has launched the widest range of eyewear products.  Like contact lenses, prescription glasses, sunglasses, anti-glare glasses, try-at-home glasses,  and many more. It has marked its presence offline by having 550+ kiosks across various states of India.

Lenskart’s mission is to become the “Maruti Suzuki” of the Indian eyewear industry. The company has emerged as one of the best e-commerce companies. It has online as well as offline distribution mediums. Lenskart earned the “Unicorn Company Status” at the end of 2019. 

Lenskart is the first and the only Indian brand that uses robotic technology to deliver specs that are accurate to 3 decimal places. The brand also delivers services like 3D Try On and Home Eye Check-Up. The manufacturing plant of Lenskart lies in Rajasthan.

About Lenskart:

Peyush Bansal: Born on 26th April 1985, he holds a Bachelor’s degree in the branch of Electrical Engineering, IT, Control & Automation from McGill University, Canada. On completion of his graduation in 2006, he pursued his PGD in entrepreneurship from IIM (Indian Institute of Management), Bengaluru. Soon after completion of his PG, he joined Microsoft as a programming manager in the USA. He served there for around 11 months then returned to India to pursue his dream of becoming an entrepreneur. He launched around 5 companies before the launch of Lenskart.

During his IIM days, he launched his own company Valyoo Technologies in 2007. He launched a campaign under the name “SearchMyCampus” with Rs. 25,00,000 investment, which was a great hit. It was a classified online portal for students to solve their problems. Like finding part-time jobs, carpool facilities, internship offers coaching books, etc.

During his exploration, he found the eyewear segment running very poor. He then launched an online store “Flyrr.com” in June 2009. It sold contact lenses, sunglasses, etc. This store was focused on the US market then he decided to replicate the same model in India and launched Lenskart in 2010.    

In May 2011, Peyush Bansal launched “Watchkart.com” to sell premium watches from top-notch brands, like Tommy Hilfiger, Fossil, Emporio Armani, Casio, Fastrack, and others. The website displayed classy and exuberant watches and gained a lot of traction.

Bagkart.com was launched in August 2011 under Valyoo Technologies. The website sold a wide range of handbags.

Peyush Bansal launched another vertical in the name “JwelsKart.com”, with his three existing verticals Lenskart, WatchKart, and BagsKart, It sold jewelry of all kinds.

The company found that among all the verticals, Lenskart was performing much better. Due to low traction and a fall in revenue, Peyush Bansal had to shut down Watchkart, Bagskart, and Jewelskart in 2015. He could thus follow only on Lenskart.

Neha Bansal: She is another co-founder of Lenskart. She had served as a partner at Vinod Kumar and Associates before being in Lenskart.

Amit Chaudhary: Co-founder of Lenskart, Amit Chaudhary is a Computer Science Engineer from BITs Mesra, Ranchi. He has a passion for traveling to different places. Belonging to Kolkata, he did his schooling at Bharatiya Vidya Bhavan school. His deep understanding of technology and innovative ideas has led to revolutionary changes in the business.

Sumeet Kapahi: A student of Delhi University, Sumeet Kapahi was a business development manager of Luxottica India Eyewear (Rayban), before joining as one of the co-founders of Lenskart.

Revenue and funding:

Peyush Bansal founded Lenskart in 2010 along with his two friends Amit Chaudhary and Sumeet Kapahi. The financial backers of the company are TPG Growth, International Finance Corporation, Adveq Management, Ratan Tata , Kris Gopalakrishnan, Kedaara Capital, Chiratae Ventures, Rajeev Chitrabhanu, Eqip Capital, and IFC Venture Capital Group are investors in the company.

• 2017: Lenskart launched the international eyewear brand, John Jacobs.
• Katrina Kaif got launched as the first brand ambassador of the brand.  
• 2018: Wipro Chairman Azim Premji invested INR 4 crore in the company. It increased the total valuation of the company to Rs. 3000 crores.
• 2019: Lenskart launched Bhuvan Bam as its first male brand ambassador.
• 2020: Lenskart generated total revenue of Rs.1,000+ crore

Business & marketing strategy of Lenskart:

• Inventory-based business model – Lenskart offers 5,000+ designs of frames and 45+ different quality lenses for its customers. The company passes on the designs to its manufacturers. While developing the products, the company focuses on superior quality, durability, wide range, innovativeness, and services like a 3-D testing facility. It uses German imported robotic technology, which has made Lenskart the only Indian brand to make eyewear with an accuracy of up to 3-decimals.     

• Advertising on Google – Google ads are the most powerful strategies for businesses in today’s digital era. Lenskart uses this method and invests in paid advertising on Google. It uses popular keywords like eyeglasses, sunglasses, frames, and computer glasses. It also promotes its products through overpaid Google Shopping ads, where the viewer can themselves take an action. Lenskart uses Google ads through display ads, video ads, app download ads, and others. 

• Social Media Campaign – They run Facebook and Instagram ads to advertise their products. Lenskart also uses conventional advertisements, like newspaper ads, television ads, email marketing , and others. All these tin steps have made the brand emerge as a well-recognized eyewear brand in India.
• Omni-channel retail business model – The company observed the Indian mindsets and found that people are apprehensive about buying eyewear products online. Thus it focussed on establishing brick and mortar stores in India. The company offers services in both online and offline modes. It now has 550+ stores across 30+ cities.

• SEO – Lenskart website is well optimized to be user-friendly. The website has a strong SEO and gets 1.8 million visitors per month.
• Focus on quality and price- Lenskart saw the existing problems in the Indian market. It focussed on launching innovative and cost-effective products without compromising on their quality. “Lenskart Blu” is one of their innovative products that protect the eyes from harmful UV rays. It also offers a wide range of unbreakable, ultra-light, and super-flexible frames in the name of “Airflex”.

• Celebrity endorsements- The products of Lenskart are not an eyesight cure. But also create a style statement for the user. Thus the brand endorses popular personalities to attract the young mass. The first brand ambassador of Lenskart was Katrina Kaif followed by Bhuvan Bam. The brand is associated with popular premium brands, like Ray-Ban, Vogue, John Jacobs, and others. This facilitates the customers to get access to a wide range of premium products under one roof.

• Franchising for offline stores- In 2014, Lenskart ventured into offline stores to promote its products. It adopted the franchise model to serve people all over India. It now has 720+ stores across India and has plans to expand further. The franchise business model enhanced the online presence of Lenskart with minimal investment. During the covid-19 pandemic, most businesses had to shut down their stores. And turn into online mode. But Lenskart took a brave step by opening up 300+ stores making a total of 1000 stores. Lenskart focuses on reaching out to more customers through its offline stores. 

• Virtual reality technique- Lenskart offers a real-time experience to its customers through its app. The brand launched for the first time a 3-D try-on feature by collaborating with a start-up in California named Ditto. The feature offered the customer to try any frame in virtual reality. Peyush Bansal found this feature to be a very effective marketing strategy . As it brought around 15,000 customers every day to the Lenskart platform.

• B2C model- B2C refers to Business-to-Customer. It is an e-commerce strategy that eliminates the middlemen to sell the products. Lenskart uses this technique to sell its products through its websites and its mobile app. The B2C model has helped the brand make its products affordable for all. It collects customer feedback to understand their marketing behavior. Lenskart has collaborated with many logistics companies, like BlueDart, Delhivery, etc. for quick delivery services. It ensures timely and safe delivery of its products to the customers.

• Modern eye-testing- Lenskart offers advanced technology eye testing to its customers In stores as well as at their homes. The equipment used for eye testing gets imported from the USA, which is more efficient than the conventional tools and equipment used in India. The customer has to book an appointment for eye testing and an apt optometrist will visit their house to carry out the testing process.

• Attractive discounts- Lenskart has studied the Indian mindsets and has understood that our local customers get fascinated with discount offers. The brand thus offers exciting discount offers and schemes. They offer discounts like free eye check-ups, offering the first frame free of cost to the new customer, and others. The home testing facility is an exciting offer in itself. The eyewear specialist carries with him the 100 most popular frames for the customers to try on at their homes. These offers and discounts have proved to be one of the best marketing strategies and have gained a lot of customers to the platform.

Brand ambassadors:

Katrina kaif- Lenskart appointed the famous Bollywood star Katrina Kaif in October 2017 as its first brand ambassador. Peyush Bansal said that the reason behind choosing Katrina Kaif as the brand ambassador was her playful attitude. As the brand is all about fun, fashion, and playfulness.

Bhuvan Bam- Lenskart appointed Youtube sensation Bhuvan Bam as its next brand ambassador in March 2019. Founders explained that the digital content of Bhuvan Bam is appealing to the youth and so he can help the brand gather more audiences. 

Competition analysis of Lenskart:

In the herd of eye care industries, Lenskart has stood out among other online and offline competitors popular brands like GKB, Lawrence, and Mayo, Titan Eye Plus, Bausch + Lomb, Specsmakers, and Coolwinks are among the offline competitors of Lenskart, and Flipkart, Amazon, and Snapdeal are among the online competitors. Ray-Ban and Essilor are such brands that have a strong presence on online as well as offline platforms. Lenskart incorporates unique marketing strategies. Differential price points and innovative technologies make a strong presence in the eyewear industry. The products of Lenskart are affordable and long-lasting, targeting customers of different segments. The range of products starts from Rs. 345 up to Rs. 30,000.

Range of products and services offered by Lenskart:

• “First frame is free” offer- Lenskart offers its customers to pay only for the lens on their first buy. And get the second frame for free.
• Eye checkup at home- The band introduced a home eye testing facility for the customers. Where an optometrist would visit the house of the customers to conduct the testing.
• “Try at home”- Lenskart allows a customer to choose up to 5 frames and try them at home before finally making a buy.     

• Lenskart Blur (launched in 2019)- Eyewear solution to block harmful blue light rays. What emerges out of mobile and computer screens. It intends to avoid severe damage to the eyes due to such rays.  
• Innovative techniques- First time in India, Lenskart introduced a 3D facial visualizer. Through this, a customer can see how the frame looks on him, before finally purchasing it.
• Wide range of products- Lenskart offers a huge range of products. Like sunglasses, premium eyeglasses, and glasses of different shapes (Wayfarer, oval, rounders, cat eye, etc.), Branded lenses (Ray-Ban, Johnson & Johnson), contact lenses, and others.
• Allows customers to replace their old glasses with new pairs of glasses.
• Live customer support help. 

Winding up:

Lenskart has emerged as one of the top startups in India due to its unique marketing strategies and got listed among the “ Top 10 promising e-commerce Indian startups in 2021 ” by the Indian Wire. The brand has reached a million hearts by providing the best eyewear solutions to people. It blends conventional methods with modern ones with a touch of the latest technologies. The goals of the company revolutionized the eyewear industry in India. The company has generated huge employment opportunities in the country through manufacturing and retailing processes.

Suraj Shrivastava

Suraj Shrivastava at ForgeFusion shares simple, effective ways to grow your business using SEO, content marketing, and AI, learned from helping over 50 companies. When he’s not working, he loves teaching others or watching documentaries.

4 thoughts on “Lenskart Case Study: Business, Marketing Strategy & Success Story”

Is Lenskart Case Study downloadable free for me.

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interesting..

Lenskart’s focus on technology has been a key factor in its success. The company’s proprietary 3D eye scanner and virtual try-on technology have made it possible for customers to get accurate prescriptions, find the right fitting glasses, and visualize how the glasses would look on them without ever having to leave their homes. This has helped Lenskart to overcome the traditional challenges of online eyewear retailing and attract a large number of customers

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Elevating Eyewear: A Deep Dive into Lenskart’s Innovative Strategy

Table of Contents

Lenskart stands as a premier online eyewear emporium, boasting an extensive array of eyewear products within its virtual aisles. The store’s repertoire encompasses a diverse assemblage of eyewear brands, underpinned by a robust marketing framework. In this blog, we will delve into an exhaustive case study of the brand, dissecting its website, product spectrum, and intricate marketing strategy.

The entrance of Lenskart onto the Indian optical industry stage marked a seismic shift in conventional business paradigms. Traditionally, brick-and-mortar establishments reigned supreme in India’s optical sector. Procuring glasses, lenses, contact lenses, or sunglasses necessitated in-person visits to optical or retail outlets. Such establishments often extended eye check services, a strategy to magnetize new clientele. Concurrently, e-commerce burgeoned, yet it predominantly gravitated toward categories like household goods, edibles, attire, and electronics, leaving eyewear largely untouched.

About Lenskart

A visionary entrepreneur, the founder of Lenskart paved new avenues for consumer choice. This approach instilled trust in the brand’s credibility, facilitating online eyewear transactions. Similar to a pioneering sales technique, they primed consumers with novel concepts, subsequently inducing them to embrace online eyewear shopping.

The modus operandi spans both online and offline realms, positioning Lenskart as a preeminent force in India’s rapidly expanding business landscape. With a footprint gracing over 120 cities, 500 profitable stores, and a contented customer base exceeding 50 million, Lenskart is a flourishing network under the aegis of Valyoo Technologies, its parent company. Their app houses an extensive eyewear collection, reigning as the apex of online shopping apps, with offerings spanning computer glasses, reading glasses, contact lenses, anti-glare goggles, and spectacles.

The Architects Behind Lenskart

Peyush Bansal, born on April 26, 1985, and a graduate of Electrical Engineering from McGill University, Canada, laid the foundation. After securing a PGD in Entrepreneurship from the Indian Institute of Management, Bengaluru, he embarked on an entrepreneurial journey. Prior to Lenskart’s inception, he had birthed five other ventures, notably including Valyoo Technologies. This company, conceived during his IIM tenure, achieved remarkable success, amassing a staggering 2.5 million users. Recognizing the nascent eyewear market, he launched Flyrr.com in 2009, a US-focused online store retailing contact lenses and sunglasses. Transposing this model to India, Lenskart debuted in 2010.

Neha Bansal, a co-founder, transitioned from her role as a partner at Vinod Kumar and Associates. Collaborator Amit Choudhary, a Kolkata native and computer science engineer from BITs Mesra, brings a tech-savvy perspective. Additionally, Sumeet Kapahi, formerly associated with Luxottica India Eyewear Rayban, joined as a co-founder.

Lenskart’s SWOT Analysis

– Dominance in the market, with few formidable competitors – Ingenious utilization of advanced, patented technology – Solid foothold within the e-commerce realm – Robust brand portfolio and identity – Trend-setting store aesthetics – High-caliber, superior eyewear offerings

– Hesitation among Indian consumers regarding online eyewear purchases

Opportunities

– Expansion into international markets – Pioneering innovative concepts – Amplified focus on online sales

– Dynamic e-commerce landscape with increased competition – Regulatory shifts – Affordability challenges for specific demographic segments

Marketing Strategy: Lenskart’s Brilliance

1. inventory-centric business model.

Lenskart hinges on an inventory-based structure, furnishing a plethora of frame designs and superior lenses. The company liaises with suppliers to craft designs grounded in top-notch quality, durability, diversity, and innovation. Leveraging German robotic technology, Lenskart produces products with unparalleled precision.

2. Google Ads Dominance

Harnessing the digital era, Lenskart employs Google ads to amplify its visibility. Strategic keywords like frames, eyeglasses, and sunglasses bolster its reach, even extending to Google Shopping ads. Multiple formats, including videos and display ads, foster engagement.

3. Social Media Prowess

Facebook and Instagram serve as a playground for effective promotional campaigns. Classic marketing avenues, like TV and email, harmonize with the digital sphere to etch Lenskart as an eyewear authority.

4. Multi-Channel Excellence

Leveraging deep insights into Indian consumer psyche, Lenskart forged a hybrid approach, combining online and offline access. Over 550 brick-and-mortar locations across 30+ cities strengthen its market presence.

5. SEO Mastery

User-friendly optimization defines their website, amassing a substantial 1.8 million monthly visitors.

6. Quality Meets Affordability

The brand strategically targets the Indian market, offering innovative, reasonably priced products that embody excellence. “Lenskart Blu,” a shield against harmful UV rays, and the “Airflex” collection spotlight superior quality at accessible price points.

7. Celeb-Powered Appeal

Endorsed by prominent figures, Lenskart augments its products with style and celebrity flair. Brand ambassadors like Katrina Kaif and Bhuvan Bam draw in a youthful demographic.

8. Offline Franchise Impact

The brand’s offline expansion through franchises illuminated new avenues for growth. Pioneering over 720 stores nationwide, even during the pandemic, reaffirmed it’s commitment to customer convenience.

9. Immersive Virtual Reality

Their app offers an immersive 3D testing feature in partnership with Ditto, enabling users to virtually try out products. This has driven substantial daily traffic to the Lenskart website.

10. B2C Excellence

A direct-to-consumer model underscores the company’s operations, enabling cost-efficient access to its products. Collaborations with logistics partners ensure swift, secure deliveries.

11. Cutting-Edge Eye Testing

Lenskart’s advanced eye testing, utilizing imported equipment, enhances user experience. Experienced optometrists offer at-home testing, marrying convenience and innovation.

12. Tempting Discounts

Understanding the Indian affinity for discounts, IT leverages attractive deals, including complimentary eye exams and home-based frame trials. This strategic approach fortifies its user base.

In Conclusion

The hallmark of Lenskart’s ascent is its ingenious marketing strategies, positioning it as a leading light in the Indian startup landscape. The brand’s remarkable journey earned it a spot among the “Top 10 Promising E-commerce Indian Startups in 2021,” as per the Indian Wire. By providing an unparalleled array of eyewear solutions, Lenskart has truly captured the hearts of millions.

Also Read: Unveiling the Unstoppable Journey of Chai Sutta Bar: A Tale of Resilience and Triumph

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Case Study- Digital Marketing Strategies of Lenskart 2024

• March 22, 2024

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A few decades ago, spectacles or glasses were not fashionable at all. But now, in 2024, glasses have turned into fashion accessories.

Spectacles have evolved into a symbol of knowledge and style along with facilitating us to see the world around us a little better.

One such business, which has revolutionized the eyewear industry, is Lenskart.

Lenskart was founded in the year 2010 by Peyush Bansal along with Sumeet Kapahi and Amit Chaudhary and was initially called “Valyoo Technologies” .

It was started to help almost 1/3 rd of the Indian population suffering from eyesight issues by making quality eyewear and lenses affordable.

Affordable luxury would be a better articulation of their mission and vision statement. They eliminated the cost of middlemen by utilizing in-house robotic technology to manufacture their lenses and eyewear components. 

Lenskart has over 5000 varieties of frames which is the largest collection among any retailer in India. Their top brands include RayBan, Oakley, and some amazing in-house collections.

They provide at-home try-on for their frames, home eye-test, and trial of lenses, have innumerable offline stores and flagship stores, and an amazing membership policy as well.

Lenskart has evolved tremendously in its inventory and reach from serving 30 customers a day to 3000 customers. Their revenue has increased to almost $2.5 billion with a monthly customer visit rate of 1 lakh.

And a part of this success needs to be credited to an innovative and engaging marketing strategy implemented by Lenskart. But before we analyze their digital marketing strategy, let us understand the importance of learning about the latest trends in marketing and how we can benefit from them.

Why Should Marketers Study Digital Marketing Strategies?

Digital Marketing is a fast-growing field and the need for well-informed and knowledgeable marketers has increased.

Learning about the latest marketing case studies , and strategies of brands will provide you with an edge over your competitors. And this edge is extremely beneficial in the long run.

It will help establish your brand and will make way for future career opportunities in the field of digital marketing.

It provides valuable insight into consumer behaviour, helps analyze and interpret real-time data efficiently, and helps in developing your critical thinking and problem-solving skills .

Possessing updated knowledge will help the implementation of holistic and innovative strategies.

These strategies facilitate the success of your marketing plan yielding favourable outcomes for both the business client and yourself. Better insights into the current trends open doors to amazing career opportunities which provide attractive salaries and benefits.

With enough experience, diversified careers in marketing can be explored due to the flexibility that comes with staying updated.

It also helps in the conceptualization and establishment of your marketing agency. As the industry will never face a recession, your job will continue to be stable and better opportunities will come along.

These are just some of the many benefits that one can experience by constantly researching and learning about the latest digital marketing practices.

Let us now discuss Lenskart’s ideal target segment around which three of its successful marketing campaigns were created.

Lenskart’s Target Segment

Lenskart’s top engagement audience comes in the age groups of 18-24 and 25-34.

About 38.74% of the audience belongs to the 18-24 age group making it their largest consumer pool.

And 35.96% of their audience belongs to the age group of 25-34. This implies that millennials and GenZ are their ideal clientele.

12.01% of Lenskart’s consumer base is made of those in the age group of 35-44. These are the top 3 contributors to engagement.

When it comes to gender-based distinctions, 62.30% of their consumers are male, while the remaining 37.70% are females.

Lenskart’s Digital Marketing Campaigns & Strategies

Let us now look at the digital marketing campaigns conceptualized and promoted by Lenskart that proved to be successful in their growth and revenue.

Campaign 1 – The War of Fair Prices #KaranVSPeyush

“The War of Fair Prices” was a digital campaign by Lenskart featuring Karan Johar and Peyush Bansal. The campaign aimed to create awareness about the fair pricing of eyewear and how it can change consumers’ perceptions of the high cost of eyeglasses.

The campaign effectively leveraged the celebrity endorsement of Karan Johar and the credibility of Peyush Bansal, the CEO of Lenskart, to drive home the message.

The use of humor and relatable scenarios made the campaign appealing to the target audience and helped in building brand recall.

The campaign received widesprea d attention on social media , contributing to the overall brand awareness and perception of Lenskart as a trusted and affordable eyewear retailer.

Campaign 2 – Nazar Ghati Durghatna Ghati 2.0

Launched during the IPL season in October of 2021 , this was Lenskart’s hilarious take on solving issues that might originate due to poor vision. The ad campaign consisted of a series of short ad films which hilariously dealt with the topic of mishaps due to poor sight.

The ads utilized some of the top unbelievable and hilarious IPL moments to market the importance of good sights. From fielders colliding with each other and the wicketkeeper being unable to take the wicket, they all ended on a humorous note with the saying “Nazar ghati, dhurgatna ghati” .

The ad campaign also focused a film on a player using a protection cup instead of a face mask and cleverly marketed the need for their quality lenses and glasses.

The main purpose of this ad was to showcase their latest Augmented reality feature which now allowed customers to try on their virtual glasses and even receive suggestions depending on their face shape, all in under 10 seconds.

The ads were exclusively run during the IPL season on social media platforms like YouTube, Instagram, Facebook, and Twitter. They were also broadcast on television.

The ad was a roaring success as 1 out of 4 customers were trying the new feature, and conversions were pouring in.

One of the main reasons for the huge success of this campaign, apart from the wit and humour, was the timing. They created consumer-centric ads by taking advantage of the excitement around IPL and expanding their demographic.

Campaign 3 – #HalkaRakhYaar

The #Halkarakhyaar campaign was launched in October 2019. This was the first set of TVC ads that were conceptualized and created by Mullen Lowe Lintas group, with Bhuvan Bam as Lenskart’s brand ambassador .

This campaign aimed to showcase their AIR range which harmoniously blends style, comfort, and functionality. They opted for a carefree and free-spirited approach to showcase the modern and eclectic style of their latest collection.

A series of ad films were shot with Bhuvan as a pivotal character for plots that were fun, engaging, and relatable.

They implied their standard tone of wit and humour when dealing with common scenarios and created very memorable content for their audience. This was a consumer-centric campaign in the sense that the whole idea was based on valuable insight received from consumers about a need for light, airy, and stylish eyewear.

This was a revolutionary campaign as they broke the traditional stereotypes associated with celebrity endorsements by roping in Bhuvan Bam, a well-known YouTube star, as their brand ambassador.

This ad was marketed on television and social media platforms like YouTube, Instagram, and Facebook to reach a much wider demographic. The ad reflected their quirky and unique brand identity, helped tap into the influencer marketing potential, and successfully increased their online presence and sales.

Campaign 4 – Pride 22 #SeeTheLove

Launched in June of 2022, the main aim of the campaign was to spark conversations about fluidity, freedom to express, curiosity, boldness, and carefreeness that extend beyond the month of June. The real conversations that matter.

By building on the line “See the love, not labels. See the pride, not prejudice” , Lenskart released its collection of bold, colourful, inclusive, freeing, and proud eyewear to symbolize its support for the LGBTQ+ community as a proud ally. The eyewear experimented with iconic PRIDE symbols, colours, and objects to symbolize the concept of being free and unapologetically yourself.

The series of ad films told stories that mattered and consisted of proud members of the LGBTQ+ to narrating those stories.

Lenskart released a series of 7 episodes under this campaign to narrate the stories of how the community continues to enrich our lives and how the members like to identify themselves.

These ad campaigns were marketed on social media platforms and on Lenskart’s official website to reach a wider demographic. Overall, the campaign proved to be a success due to its authenticity, quality, and its perfect timing.

Lenskart’s Social Media Marketing Strategies & Case Study

2.76% of Lenskart’s engagement comes from different social media platforms like YouTube, Facebook, and Instagram. That means that almost 2.8k visitors a month are solely pouring in through ads marketed on these social media platforms.

Social media marketing refers to promoting a business online on specific platforms based on the requirements of that business.

It is one of the most effective marketing strategies due to its cost-effectiveness, potential to convert leads, and high flexibility.

Social media marketing is a budget-friendly way to create an updated and engaging online and social presence that reflects your brand identity and value.

Lenskart has a well-rounded and engaging social media presence on YouTube, Facebook, Instagram, LinkedIn, and Whatsapp.

Let’s briefly look at their  YouTube , Facebook, Linkedin, Twitter, and Instagram, marketing channels & followers;

YouTube is one of their largest channels, with 166k subscribers and a cumulative view count of more than 3.5 million. It is responsible for 53.42% of the total traffic, making it the largest contributor. They mostly curate updates on the latest collection, offers, and unboxing videos for their YouTube channel. They also repost influencer content to increase their presence.

Facebook and LinkedIn occupy the 2 nd and 3 rd positions respectively by contributing 19.79% and 08.83% each. With close to 174k followers on LinkedIn, Lenskart is one of the few businesses that are appropriately utilizing LinkedIn to reach a highly specific demographic.

And their Facebook account has 1.5 million followers who engage with their content regularly. Their Facebook content consists of updates on the latest offers and deals, service-related information, and an aesthetic feed to reflect their brand image.

WhatsApp occupies the 4 th position by bringing in 7.91% of the traffic respectively.

Lenskart’s SEO Strategies & Case Study

Optimizing your online presence is the best approach to improving your online visibility, ranking and reach. And the process of doing that is SEO.

Search Engine Optimization refers to the process of optimizing a website to improve its ranking on search engines and increase visibility and online presence.

It helps generate organic traffic and is great for adding credibility and transparency to any business.

SEO also helps with quality lead generation and conversions . It is a great cost-effective strategy to improve the growth of your business.

35.21% of Lenskart’s traffic is generated by organic searches. This indicates a highly optimized online presence. The business receives 5.6 million visits a month for an average duration of 4.2 minutes each.

They occupy the 16 th position in the country concerning online shopping and the marketplace. Having said this, Lenskart’s bounce rate is rather high, with 45.6% of its visitors leaving the site after surfing through only 1 page.

Lenskart has updated its website to ensure it always ranks first when its name is searched, regardless of any new updates that happen in the search engine. It is a mobile-first, SEO-friendly website .

They have highly specific CTA buttons, which are great for converting leads into conversions and retargeting.

They have an optimized SMS and email bundle, which is sent out regularly which helps consumers complete their purchases and again helps with retargeting.

Over 61% of its traffic is organic, and Lensakrt has optimized its keyword database with over 3000 keywords to help with its ranking.

The top 5 searches that drive traffic to the Lenskart website are

• Lenskart.com
• Lenskart India
• Lenskart near me are

Other keywords include

• Specs, and similar words in the group.

Lenskart has an engaging and highly interactive content marketing strategy and social media strategy which promotes its brand and hence makes it memorable.

Overall, they have optimized their presence to help with better lead generation and conversions, but there is an area for improvement in their bounce rate and retargeting tactics.

Lenskart’s Website Strategy

Lenskart’s official website has been optimized by embedding 54 technologies to ensure a smooth customer experience. These technologies have been taken from 13 different industries like advertising, currency converters and payment systems, conversions and analytics, mobile , and so much more.

The website has been optimized for search engines. It has a mobile-first approach and facilitates easy navigation through clear and simple categories.

They also display their vast visual inventory in an organized format along with their international stores. Eyeglasses, computer glasses, kids’ glasses, lenses, sunglasses, hope tests and trials, and store locators are the major categories. Each of these has been further classified for easy access and ordering. They also provide a user-friendly order tracking system to update customers on their purchases.

The visuals are engaging and have a lot of movement in them which is great for grabbing and maintaining the attention of the consumers. The filters are highly versatile and flexible, which contributes to a hassle-free and enjoyable customer experience. Lenskart also emphasizes flexibility in payments which is great for confirming successful purchases.

Overall, Lenskart has a well-rounded and highly optimized website which is great for improving its online visibility, generating leads, and increasing revenue.

Lenskart’s Paid Ad Strategies & Case Study

Paid ads refer to the concept of generating ad campaigns through a service provider and paying them an agreed-upon amount when their ads generate leads. It works on a commission basis.

Paid ads are great for directing quality leads and traffic to the website of any business. They are more flexible in terms of budget and concept in comparison to traditional marketing practices. They are profitable as they have high ROI. Paid ads are measurable and bring about almost immediate results.

Almost 40% of Lenskart’s traffic is generated by paid ads. 5 important paid ad strategies have been optimized to improve its reach and sales. They are PPC, social media ads, influencer marketing, banner ads, and Ad retargeting.

Pay-per-click ads are placed at high-engagement areas online and on partner sites to generate high-quality leads that end in conversions. They have placed social media ads on their official account and in high-traffic areas to attract the right audience. Most of Lenskart’s ad campaigns are promoted on social media and through direct marketing and hence have a wide reach.

Lenskart has broken influencer marketing stereotypes by roping in a popular YouTuber as its official brand ambassador. This was an extremely smart move that enabled them to tap into a highly specific and already engaged audience.  And they have a well-rounded retargeting strategy that involves constant reminders through email and SMS which helps in following through with the leads.

Lenskart’s Influencer Marketing Strategy

Influencer marketing is one of the most profitable and trendy marketing practices. It refers to the idea of influencers or those with an online following promoting businesses to their followers.

It works based on the trust and loyalty that these opinion leaders have earned, which puts them alongside experts.

It is far more budget-friendly than celebrity endorsements without compromising on the reach or quality of leads. It reduces marketing efforts as influencers come up with creative ways to market the product, which reduces the burden of ad conceptualization on the parent company.

And lastly, it generates high-quality leads with a high chance of conversion because the audience is already engaged with the product through the influencer.

Lenskart has a fully optimized influencer marketing strategy which is reflected in its choice in going for a YouTuber as its brand ambassador.

1% of their traffic comes through direct referrals and 2.76% from social media. This makes the influencer marketing strategy a highly beneficial one.

They collaborate with lifestyle, tech, fashion, wellness, and other similar category influencers to generate content for their promotions and social media pages.

They focus on the quality of content but there are still areas like the authenticity and uniqueness of their content, which can still be improved.

Lenskart’s E-commerce Strategy & Case Study

Any strategy that is implemented to help boost the sales of your online business is called an e-commerce strategy . The main aim is to increase the online presence of your business by promoting your brand.

Lenskart has a fully optimized e-commerce strategy which has helped the business grow tremendously over the years.

In the year 2014, Lenskart decided to go online with its business. They implemented the D2C approach or the direct-to-customer approach.

This eliminated all the middlemen involved and the commission they cut and therefore reduced the price of quality eyewear.

This is one of the most important e-commerce strategies which has helped Lenskart establish its brand value and presence in the Indian e-commerce market.

To ensure smooth and efficient delivery, Lenskart has tied up with logistics companies like Bluedart and Delhivery . This has ensured a great experience for their customers.

They also have a fully optimized website and mobile app that helps improve the customer experience and also contributes toward recurring sales.

They have a clearly defined clientele group which facilitates the optimization of all their marketing channels. This widens their reach and impact, thus contributing to better sales.

They have also successfully marketed their content to reach a large audience and this has contributed to inculcating loyalty towards the brand.

Overall, Lenskart has an extremely dynamic and holistic e-commerce strategy which is one of the key contributors to revenue.

Lenskart’s App Strategy

In 2022, mobile applications are a must for any large business. They create a 24/7 presence for the brand, reflect the identity of the brand, and help with brand value. It is also a great way to provide your customers with a smooth and hassle-free experience. And this makes your business memorable and a cut above the rest.

Lenskart’s mobile app is extremely well-developed and fit to be navigated by all age groups. With a simple and clear UI design, visual inventory display, customer support access, and distinctive categories, the whole process of surfing and ordering eyewear has been simplified.  The latest collections, offers, updates, and deals are displayed in big bold banners at the beginning to attract new leads.

One of the most unique features of their app is the 3-D virtual try-on . This provides the customers with an opportunity to make quick decisions and buy products much faster.

The login and registration processes are extremely clear and simple.

The app also has the provision to book home eye tests and also locate the nearest stores.

The application has several panels like the admin panel, consumer panel, eye test panel, and delivery panel.

This facilitates effective communication between the teams and ensures smooth order processing.

Lenskart’s Content Marketing Strategy

From getting Katrina Kaif on board as Lenskart’s brand ambassador to creating stellar ads, Lenskart always had a strong content marketing strategy.

Content marketing refers to the concept of sharing valuable content in the form of videos, blogs, podcasts, ads, or social media posts to help keep customers engaged, attract new leads, and maintain their loyalty.

It is a cost-effective way to make a memorable presence and promote brand awareness. It also deeply reflects your brand value.

Businesses that utilize content to stay connected generate 67% more leads and more than 47% of consumers go through the content of a business before making a purchase.

And 72% of businesses will agree that content marketing is an extremely powerful tool for generating quality leads.

Lenskart utilizes its content pool very efficiently to market to its ideal clientele.

They have quirky and innovative ads, blogs, unboxing videos, influencer material, and social media posts.

Lenskart’s official blog creates articles related to people and culture, fashion, lifestyle, technology and product development, and startups.

Their social media pages are updated, dynamic, and highly engaging with posts on the latest market trends.

They have even mobilized meme marketing to ensure that they connect with a younger demographic and create a great impression. This indicates their omnipresent approach to promoting their business through content.

Lenskart’s Organic Competitors

Lenskart operates both online and offline. While this hybrid model has several benefits, it also presents a plethora of competitors, from both domains.

Apart from other retailers in the area, Lenskart’s top five organic competitors are

• Titan eye plus
• Essilor India

Flipkart has the highest affinity score of 100% and hence occupies 1 st place on the list.

Titan eye plus and Eye my eye have affinity scores of 92% and 85% respectively.

Essilor India and Tatacliq occupy the 4 th and 5 th positions with affinity scores of 84% and 79%.

These are the top 5 competitors and the diagram represents other important factors like monthly view rate and category rank to provide a better understanding of the competitors.

Lenskart’s aim of making quality eyewear affordable by eliminating middlemen and using in-house robot technology is a strength.

Their team consists of trained professionals who conduct eye tests and write prescriptions. This adds credibility to their business.

Lenskart’s willingness to educate the customers on their best options is a great tactic to build trust and loyalty.

And finally, their versatile collection of brands, designs, and categories of eyewear ensures there is something for everyone.

With strengths come weaknesses and achieving the right balance with pricing is key to establishing brand identity and value.

You can neither price it too low nor too high. Low prices might tarnish brand value while high prices might lose customers to other retailers.

Now coming to ways through which they can optimize their reach, Lenskart has several ways to tap into wider demographics using the latest tools and resources to increase the consumer base.

Adding customization features to their frames is a great tactic to generate quality leads and sales . And improving their social media presence by enhancing creativity and innovation in their content is great to improve their presence while attracting new customers and retaining loyal ones.

Lenskart also has a series of challenges that hinder its progress. Stiff competition from online and offline retailers dilutes the quality of leads and traffic that comes their way. And a constant need to stay innovative and unique can get taxing.

But overall, Lenskart has implemented several innovative marketing strategies to help reach its goals faster.

Within a span of a decade, they have evolved into a top business force in the country. Through its consumer-centric approach to product development and marketing, Lenskart will continue to thrive and grow.

Enrol in Digital Scholar’s  online digital marketing course  to improve your company’s digital marketing tactics. This course is for anyone interested in learning everything there is to know about digital marketing and how to apply it to their own company.

What do you love the most about Lenskart? Let us know in the comments below!

Also, check the list of digital marketing case studies of brands:

MRF Tyres Digital Marketing Case Study

Flipkart’s Digital Marketing Strategies

Mama Earth’s Digital Marketing Strategies

Tanishq’s Digital marketing strategies

First Cry’s Digital Marketing Strategies

Shopclues’s Digital Marketing Strategies

Amazon’s Digital Marketing Strategies

Cadbury’s Digital Marketing Strategies

Written By Digital Scholar

Digital Scholar is a premier agency-styled digital marketing institute in India. Which offers an online digital marketing course and a free digital marketing course worldwide to elevate their digital skills and become industry experts. Digital Scholar is headed by Sorav Jain and co-founder Rishi Jain, who are pioneers in the field of digital marketing. Digital Scholar’s blogs touch upon numerous aspects of digital marketing and help you get intensive ideas of different domains of digital marketing.

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Lenskart Case Study : Marketing Strategy & Success Story

By  Sreeresh   |  Date  :  14-December-2022

    Home > Blog > Lenskart case study

Lenskart is an online eyewear store and it provides a wide range of eyewear products. 

It has a diverse collection of eyewear brands and it has a sound marketing strategy. 

I will write a detailed lenskart case study based on their website, products and marketing strategy in detail in this blog.

The dramatic entry by Lenskart  to the Indian optical industry landscape marked a paradigm shift in how the business was conducted. 

The traditional model of doing business through brick-and-mortar stores was still the norm in India’s optical industry. 

To purchase glasses, lenses, contact lenses or sunglasses, one must visit an optical shop or other retail shops . 

Many optical shops offered eye checks for customers’ convenience, which helped to attract new customers. 

While E-commerce was quickly gaining popularity and online shopping was rapidly catching up during this time, it mainly focused on household products and appliances, food and groceries, as well as clothing, footwear and jewelry. 

It also offered electronic gadgets, such as smartphones and other digital devices. Online shopping was limited to sunglasses. 

About Lenskart

The Lenskart founder was a genius in providing more purchasing options for consumers. 

This helped establish Lenskart credibility and allow consumers to buy eyewear online.

This approach was similar to selling new concepts first, then inviting consumers to buy eyewear online.

Lenskart is an online and offline distribution channel. It is also one of the most popular ecommerce brands. 

Customers can order Lenskart products through Lenskart’s imaginatively designed offline stores. 

Lenskart is a fast-growing business network in India. It has more than 120 cities, over 500 stores that are profitable, and more than 50 million satisfied customers. 

It is registered with Valyoo Technologies, its parent company. Lenskart app has the largest selection of eyewear, and is the most popular online shopping app. 

It offers a wide range of eyewear including computer glasses and reading glasses. 

The collection also includes contact lenses, anti-glare goggles and specs.

Founders Of Lenskart

Peyush Bansal: He was born 26 April 1985 and holds a Bachelor’s Degree in Electrical Engineering, IT Control & Automation, McGill University, Canada. 

After completing his graduation in 2006 he completed his PGD in Entrepreneurship at IIM (Indian Institute of Management), Bengaluru. 

He joined Microsoft in the USA as a program manager shortly after completing his PG. 

After serving there for about 11 months, he returned to India to follow his dream of being an entrepreneur. Before Lenskart was launched, he had founded around five companies .

He founded Valyoo Technologies, his company during his IIM days. With Rs. 

It was a huge success and attracted a staggering 25,00,000. It was an online classified portal that students could use to solve their problems. 

You can find part-time work, carpool, internship opportunities , coaching books, and many other things.

He discovered that the eyewear market was very underdeveloped. 

In June 2009, he launched Flyrr.com, an online shop. It sold contact lenses and sunglasses. 

The store was primarily focused on the US market, but he decided that he could replicate the model in India and launch Lenskart in 2010.

Neha Bansal:  She is also a co-founder at Lenskart. Before joining Lenskart, she was a partner in Vinod Kumar and Associates.

Amit Choudhary: Cofounder of Lenskart. Amit Chaudhary, a Computer Science Engineer at BITs Mesra in Ranchi, is also a co-founder. 

He loves to travel and has a passion for it. He is a Kolkata native and attended Bharatiya Vidya Bhavan School. 

He has made revolutionary changes to the business through his deep understanding of technology as well as his innovative ideas.

Sumeet Kapahi: a student at Delhi University, was previously a business development manager for Luxottica India Eyewear Rayban before joining Lenskart as one of its co-founders.

Lenskart Swot Analysis

•  No big Competitor
• Advanced and patented technology usage
• Strong presence in the e-commerce business
• Strong brand portfolio
• Strong identify & brand image
• Trendy store layout
• High quality products
• Indian public is still not open to purchase eye-gear online

OPPORTUNITY

• Expansion in new markets: international markets
• Development of new concepts
• Increasing online sales
• Competitive or fluctuated e-commerce
• Change in government regulations
• Product prices may be too high for certain demographic groups to afford

Marketing Strategy Of Lenskart

1. Inventory Based

company system The business model is based on inventory. Lenskart provides thousands of frame designs and 45+ quality lenses for customers. 

The company reveals the designs to its suppliers. In the process of developing items, Lenskart is focused on high-end design, durable, broad variety, ingenuity and even services like an in-depth 3D-based testing lab. 

Lenskart utilizes German imported robotic technology that has resulted in Lenskart the sole Indian company to manufacture products with a precision that can reach 3-decimals.

2. Advertisement on Google (Google ads )

Google advertisements are among the most efficient strategies for companies in the present digital age. 

Lenskart employs this strategy as well and also invests money in ads on Google. It makes use of popular keywords such as frames, eyeglasses, sunglasses as well as computer-related glasses. 

It also advertises its products by using overpriced Google Shopping ads, where the user can also decide to take action. 

Lenskart utilizes Google advertisements through video ads, display ads and app download advertisements as well as others.

3. Social Media campaign

They use Facebook and Instagram advertisements to promote their services. 

Lenskart also makes use of traditional advertisements such as TV ads, newspaper advertisements, email marketing and many more. 

These tin-based actions have allowed the brand to grow into a well-known and respected brand of eyewear in India

4. Multi-channel retailer Business Model  

The company analyzed Indian mentality and observed that many people are wary of purchasing eyewear on the internet. 

This is why it decided to establish bricks and mortar shops in India. 

The company provides services that are available online as well as offline. It currently has 550+ locations spread across 30+ cities.

Lenskart Website is optimized for user-friendliness. The site has a solid seo and receives 1.8 million monthly visitors.

6. Concentrate on quality and cost Focus on quality and price  

Lenskart was aware of the existing issues that existed in the Indian market. It was focused on launching new and affordable products that did not compromise on the quality. 

“Lenskart Blu” is one of their most innovative products that shield the eyes against harmful ultraviolet radiation. 

They also offer a wide selection of ultra-light, unbreakable and super-flexible glasses under the style”Airflex” “Airflex”.

7. Celebrity endorsements 

Lenskart’s products do not provide a cure for eyesight. However, they also provide a style message for the customer. 

So the brand promotes celebrities to appeal to the younger crowd. 

First brand ambassador for Lenskart was Katrina Kaif followed by Bhuvan Bam. 

Lenskart is associated with a variety of popular high-end brands such as Ray-Ban, Vogue, John Jacobs among others. 

It allows customers to have access to a broad variety of high-end products in one place.

8. Franchises that operate offline

In the year 2014 Lenskart began to open offline shops to advertise its products. 

The company took on the franchise model to cater to customers across India. 

The company has now more than 720 stores across India and is planning to expand its reach. 

The franchise business model has boosted the presence on the internet of Lenskart with the least expenditure. 

In the event of the covid-19 pandemic the majority of businesses had to close their shops. and then go online. 

However, Lenskart did something bold by opening up more than 300 stores to create an overall total of 1000 stores. 

Lenskart is focused on bringing more customers via its stores that are not physically located.

9. Virtual reality technology  

Lenskart gives a live experience to customers using its application. 

The brand introduced its first-ever 3D test-on feature through a partnership with a start-up company in California called Ditto. 

The feature allowed the user the opportunity to test any image in virtual real-time. 

Peyush Bansal believed the feature an extremely successful marketing strategy. It brought more than 15,000 users each per day on the Lenskart website.

10. B2C model 

B2C refers to Business-to-Customer. It is an e-commerce method which eliminates middlemen in order in the sale of products. 

Lenskart utilizes this strategy to sell its goods through its websites as well as its mobile application. 

This B2C model has allowed the company to create products that are affordable for everyone. 

It gathers feedback from customers to better understand their behavior in marketing. 

Lenskart has partnered with a variety of logistics firms, such as BlueDart, Delhivery, etc. for quick delivery services. 

It assures prompt and secure delivery of their products to customers.

11.Modern eye testing   

Lenskart offers the latest in technology eye testing for its customers in their stores and at their home. 

The equipment used to test eyes is imported from the USA which is more efficient than traditional equipment and tools employed in India. 

The customer must book an appointment for testing their eyes and an experienced optometrist will come to their home to complete the process of testing.

12. Discounts that are attractive

Lenskart has researched Indian attitudes and has realized that the local population is excited by discounts. 

This is why the company has exciting discount deals and offers. 

They also offer special discounts, such as free eye exams, giving the first frame at no cost to new customers and many more. 

The test at home facility is a unique offer by itself. The specialist in eyewear carries with him the most popular frames available for customers to test in their own homes. 

Discounts and offers have proven to be among the most effective strategies for marketing and have brought many customers to the site.

Lenskart is recognized among the most prestigious startups in India because of its distinctive marketing strategies. 

It was also included in the ” Top 10 promising e-commerce Indian startups in 2021″ by the Indian Wire.   

The company has won millions of hearts through providing the most effective eyewear options to the masses. 

No thanks, I’m not interested!

• > Startups

The Success Story of Lenskart

• Mallika Rangaiah
• Dec 03, 2020

Everyone who wears glasses or lenses is well aware of the struggle involved in physically shopping for the same. A lot of patience and time is tested while going through the whole arduous process of taking out time to visit the optician, selecting suitable frames, checking out varying styles, choosing the glasses and then finally being made to wait a couple days to receive our customised glasses. We’re all long past the days where we had the time or energy to undergo this tedious process to get our hands on our eyewear accessories. 

Presenting a solution to these struggles emerged Lenskart , the dominant eyewear business of India. This platform has played a pivotal role in streamlining the routine of purchasing eyewears and has largely revolutionized the jumbled eyewear industry. 

This business initially began as an online platform providing contact lenses, and later on extended to incorporate prescription glasses as well as sunglasses in its collection. Have you ever wondered about the journey behind this platform and how it reached its present day position?

Through this blog, we will provide you a gist about the platform of Lenskart, about its founders, its business model, its funding, its success story, its origin, as well as its growth .

You can take a look at our latest success story of CRED .

About Lenskart 

Lenskart is an e-commerce platform which specialises in eyewear accessories. The platform operates in both online and offline distribution modes, offering its customers the liberty to purchase products either online or through their exclusive offline stores. The company facilitates a range of services such as home eye checkups. Lenskart recently earned the unicorn company status towards the end of 2019. 

As of now the platform has over 5,000 styles of frames and a range of different kinds of lenses. It manufactures, assembles, distributes, and supplies its products across 460 stores across India. The platform’s parent company is Valyoo Technologies. It’s portfolio ranges from a wide assortment of eyewear products which include specs, goggles, sunglasses, reading glasses, computer glasses, contact lens, frames, anti-glares as well as eye accessories. 

“I think our biggest bet was making consumers see this as fashion and not just medical, and that was a fundamental shift for consumers,” - Peyush Bansal to Your Story

Addressing the issue of only a limited number of people using spectacles out of all the people that need them, the platform emphasizes on raising awareness regarding eye care and the necessity of vision testing. Lenskart presently carries out 15,000 eye tests each day. Its objective is to provide affordable eyeglasses while simultaneously ensuring that they are also of optimum quality as well as fashionable.  

In a TechCrunch article, the platform has also stated that it witnesses a great degree of potential within the Indian nation particularly in the rural areas which have a dearth of trained optometrists. As an effort to reduce the resistance, the platform offers free eye inspection tests for its potential consumers. Along with this it also allows users to book a couple of glasses and try out them at their homes before actually making a purchase. Alongside stores, the platform also has a strong digital presence. It permits users to purchase from its online listed collection, while also allowing them to return, exchange as well as virtually try out the items. 

Take a look at the success story of Dineout .

Lenskart Founders 

“You can’t be good with average because the world is all about surprising customers, (with) excellence, delight, and raising the bar; this is what the world has become. It’s not at all about what others are doing, it’s about breaking your own standards every time and just bringing that element of joy and ‘wow’ in the lives of your customers and employees,” - Peyush Bansal, Lenskart CEO to Your Story

The platform was founded by Peyush Bansal who established Lenskart in the year of 2010 alongside Amit Chaudhary and Sumeet Kapahi. Prior to founding Lenskart Peyush had also worked at Microsoft. He is also the founder of Lenskart's parent company Valyoo Technologies. 

Peyush pursued his graduation in Canada's McGill University after which he launched searchmycampus in 2007, a classifieds site which specialized in providing solutions to the various variety of issues encountered by students. The site offered facilities ranging from accommodation to books, part-time jobs as well as internship opportunities.

While working with small retail setups in the US and aiding them in expanding their online presence from India, he glimpsed an opportunity in the eyewear industry, realising that this sector had not been properly tapped by the popular e-commerce giants. 

Keeping this in perspective he set up Flyrr.com in the US, a platform which exclusively dealt in eyewear. After witnessing a promising response there, he decided to test the Indian scenario and launched Lenskart in 2010 in India.

The Origin of Lenskart

“For us, starting Lenskart was really starting from the problem of vision correction in india. We still have about half a billion people in India who need vision correction. Also, about 40 percent of the world’s visually impaired live in India, that’s how it all started-- that can we create and solve this problem of vision correction?” - Peyush Bansal, CEO of Lenskart to Your Story

It all began when Peyush Bansal , Lenskart’s CEO,  discovered the void in the eyewear industry in the eyewear segment that he took the decision of starting his own company in India. He reached the realization that out of the people who require spectacles only a  handful of people actually wear them largely owing to the lack of quality of the spectacles or because of their cost. 

Bansal was later joined by Amit Choudhary and Sumeet Kapahi , as the trio set out to alter the society’s perception of glasses being out of fashion to make them a popular trend among the people. 

As a result in its initial days, Lenskart was established as a sole e-commerce company, which later on moved on to become an omnichannel platform. 

We would also recommend sparing a glance at our success story on Dunzo .

The Business Model of Lenskart 

Omnichannel strategy of Lenskart

  In an old interview with Business Standard Peyush Bansal stated that the platform pursued an inventory-led business model in which the designs are forwarded on to their manufacturers. This model as well as Lenskart’s supply chain aids it in keeping  the prices of its products under control. 

"The fact that there is no middleman involved means the company can pass on the benefit of reduced costs to the customers in the form of almost 70% lower prices. The frames at Lenskart.com are crafted in some of the finest production lines in the world and are inspected thrice before being delivered." - Peyush Bansal in an old interview with Vision Mag

Lenskart is one of the initial Indian brands which adopts the robotic technique and offers micro-precision glasses, that are precise upto three decimal places .  

The platform also facilitates services like 3-D trial services , in an attempt to optimise the whole process for their consumers. They adopt an aggressive marketing approach in which they provide the initial frame free of cost to their first time consumers. 

Presently Lenskart pursues the Omni-channel retail model . As per this model, the business facilitates both online as well as offline mode services. The primary objective of the platform setting up offline stores was the skepticism of the Indian consumers in buying eyewear online since the customers wanted to test the products physically, feeling and experiencing them to ensure their quality.

You can also sneak a peek at our success story on Delhivery .

Recent Growth and Developments in Lenskart 

“When the company was incepted, it was incepted with the goal to revolutionize eyewear in India. So the biggest milestone was going to homes to do eye exams. The second biggest milestone was that that wasn’t enough and then a lot of people are shopping in the markets, they want a consumer brands, so let us go open stores so they can touch and feel our frames and we can still ship it from a central facility. Then the next big milestone was saying, this is also not enough. At the end of the day consumer is not buying the channel, they are not buying online, offline or home, they are actually buying a pair of specs. Then the pair of specs needs to be so much better than what they can buy. That was the biggest milestone,”  - Peyush Bansal, CEO of Lenskart to CNBCTV18

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 20% 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.

“We are seeing almost 200-300 percent growth there in terms of adoption of people ordering without any assistance. Sales are higher online overall. People are browsing online more, still not stepping out despite lockdown being lifted at the majority of the geographies.”   - Peyush Bansal, CEO of Lenskart to Your Story

Alongside this, the platform has also been expecting a growth of at least 20% for its ongoing financial year, which concludes by March 2021. 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 . Amidst the pandemic restrictions various features have been introduced by the platform such as appointment-based shopping as well as aggressive sanitisation procedures in order to lure more consumers.

“Our general view is that everything will be fine in the long term. Plus-minus six, nine, or 12 months also doesn't bother us; we know things will be fine in the long term. So, we continue to open stores, we continue to operate every store. Some may make profit, some may make losses, but the larger goal is to serve vision correction for customers.” - Peyush Bansal, CEO of Lenskart to Your Story

Lenskart Funding

Lenskart's leading investors include PremjiInvest, Kedaara Capital, Chiratae Ventures, TPG Growth, Ratan Tata of Tata Sons, Rajeev Chitrabhanu, Adveq, Eqip Capital as well as IFC Venture Capital Group . 

So far the platform has raised up to a total of $456 million in all its funding rounds as confirmed by TechCrunch.

The platform's most recent investment was the $275 million , it raised from SoftBank Vision Fund, in the month of December 2019, after which the platform reached a valuation of $1.5 Billion . 

“Lenskart of the future would be a global company where we serve consumers keeping India's manufacturing in focus -- make sure that India generates a lot of employment. Lenskart already helps generate a lot of employment in the country, both in terms of manufacturing and retail. We are a full stack business -- manufacturing to retailers, we will continue to embrace this and make it as big as possible.” - Amit Chaudhary, co founder of Lenskart to Business Insider

From the time of its establishment to now Lenskart has overcome a wave of challenges, making the blend of consumer enthusiasm, suitable work culture, and establishing precise benchmarks as their weapon. With its future plans underway, the platform shows a great degree of potential towards expanding and marking a dominant position in the near future.

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Lenskart success story: journey of peyush bansal.

Vanshika Bagaria

Created on 08 Oct 2020

Wraps up in 6 Min

Read by 45.9k people

Updated on 07 Dec 2023

Talking about the magical unicorns of India, there are some who have revolutionized the industry they work in. One such revolutionary unicorn is Lenskart, which has brought about some significant changes in the eyewear industry.

Lenskart revolutionized the unorganized eyewear industry in India. Started as an online portal for contact lenses, the company moved on to introduce prescription glasses and sunglasses in its product range as well.

With cutting edge technology which provides 3D Try-on services and online eye check-up services, Lenskart has now made its presence in the offline market as well and operates in more than 550 stores across the country now. 

With the mission to become the  Maruti Suzuki  of the Indian eyewear industry over the next ten years, Lenskart India keeps bringing in new and innovative products and services in its range.

Lenskart India: How It All Began?

The company was founded by Peyush Bansal who started Lenskart in 2010 along with Amit Chaudhary and Sumeet Kapahi in 2010. Peyush, who used to work at Microsoft, also founded the company Valyoo Technologies, which is the parent company of Lenskart.

While pursuing his post-graduation in Management at IIM B, he launched Valyoo Technologies with SearchMyCampus as the first business portal in 2007. The site aimed to offer solutions to different kinds of problems faced by the students. It offered accommodation, books, internships, carpool facilities, part-time jobs, etc.

While exploring this avenue, he discovered that the eyewear industry is one of the neglected industries which had not been tapped by e-commerce giants such as Amazon and eBay yet.

With this in mind, he launched Flyrr.com in the US, and after receiving a positive response there, he decided to launch the platform in India. Thus, Lenskart was launched in India in 2010.

Business Model of Lenskart

Lenskart India offers more than 5,000 styles of frames and 45 different types of superior quality lenses to its customers. The designs are in line with the latest trends in eyewear, courtesy of the in-house team of designers, and stylists who keep a tab of the latest trends.

It follows an inventory-led business model where it passes on these designs to its manufacturers. This, and the supply chain followed by Lenskart, helps them to keep the cost of their products under control.

While developing their product, some of the things that the company keeps in mind are the – superior quality of the product, a variety for the consumers, product innovativeness, excellent marketing strategies, and services such as a 3-D trial facility.

The brand's focus is not just on the trendiness of the product but also on its durability and quality. It uses robotic technology imported specially from Germany, which allows Lenskart to be the only brand in India which is able to make eyewear with up to 3 decimals of accuracy.

Catering to the Indian sentiment of – ' aur dikhao ', Lenskart India has over 5,000 styles of frames and over 45 types of lenses. They don't just offer reading glasses but also offer a range of the latest designer sunglasses.

Lenskart has also revolutionized the eyewear industry by using cutting edge technology. It offers services such as 3-D trial facilities in order to make the process smoother for its customers. It also follows an aggressive marketing strategy where it offers its first-time customers their first frame free of cost.

Lenskart has changed its model over the years and follows an Omni-channel retail model . In an Omni-channel retail model, the business offers services both online as well as offline mode. Initially, it just had an online presence, but soon it made its mark in the offline world as well. It now has over 550 stores in 30+ cities across India.

The main agenda of Lenskart India behind opening up brick and mortar stores was that Indian consumers were a little apprehensive of purchasing eyewear online. The customers wished to try the product out in a physical presence, and touch and feel it in order to be absolutely sure about its quality.

Also, opening up physical stores helped the brand grow its business faster and gain the trust of its customers. They used the Omni-channel to convert their offline customers to online by offering them application and portal facilities. This also helped them in strengthening their ties with the customers.

Impressed with the success story of Lenskart? Then, delve into similar examples of impressive success approaches that made the best brands in India today.

Lenskart Funding and Valuation

Lenskart funding has been done by 12 investors that include PremjiInvest, Kedaara Capital, Chiratae Ventures, TPG Growth, Ratan Tata of Tata Sons, Rajeev Chitrabhanu, Adveq, Eqip Capital, IFC Venture Capital Group, etc. It has managed to raise a sum of $459.6 million in over 9 funding rounds.

In December 2019, Lenskart raised $275 million from SoftBank Vision Fund after which it reached a valuation of $1.5 Billion and had generated a revenue of Rs. 486.26 crore in 2019.

The Eyewear Industry

Currently, almost 50% of the world population needs to wear glasses, and in India alone, almost 1/3rd of the population requires them. However, out of the 1/3rd, about 25% of them actually address their eye problem and wear spectacles.

The eyewear sector in India is extremely unorganized. There are just 10,000 optometrists, whereas there is a requirement for about 40,000 optometrists. However, since the industry is moving towards becoming a more organized sector, there is a lot of growth potential.

The industry had experienced a growth rate of 30% on a yearly basis in the earlier years of its business, and currently, it is a $10 million market. With more people becoming aware of their eye problems and people buying spectacles to follow trends, more than 1.5 million spectacles are sold in India each day.

Competition Analysis: What Makes Lenskart Stand Out?

Lenskart faces competition from both offline and online players. Some of its main competitors are GKB Opticals, Coolwinks, Specsmakers, Deals4Opticals, Lensbazaar, Vision Express, and Titan Eyeplus. Lenskart also faces competition from e-commerce giants such as Amazon, Flipkart, PayTM , etc. who also offer eyewear online. 

The eyewear industry is highly unorganized. The organized part just constitutes about 9-10% of the 18,000-20,000 crore market. Although Lenskart has around 70% of the market share among the organized players, its main challenge is to steer customers away from the unorganized sector, which offers product knockoffs which are available at low costs. 

With an aggressive marketing strategy, different price points, and unique and innovative products and services, Lenskart can win over its competitors. The company currently has Bhuvan Bam as its brand ambassador.

It also offers products at different price points, starting from Rs.345 and reaching up to Rs.30,000, thus reaching customers from different segments. It constantly needs to come up with innovative plans in order to stay competitive and relevant in the long run. Some services like eye check-up at home are really appreciated by the customers. 

The Bottom Line

With its vision – ‘Vision to India’ , Lenskart India seeks to reach the masses by coming up with a low-cost franchise model. This model, Lenskart Lite, would help them launch the system in Tier 3 and 4 cities and also increase their reach in Tier 2 cities.

It also launched daily contact lenses which can be disposed of easily. With the help of their product Aqualens, Lenskart's aim is to provide affordable and less complicated eyewear solutions. At just Rs.40 a day, it would be extremely affordable to the regular masses who want both trend and cost.

Lenskart India's main goal is to narrow the gap between selected and not selected and plans on opening up more than 500 stores in the next two years. It plans to reach a total of 2,000 stores by the end of 5 years.

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Vanshika born and brought up in Kolkata, She has done her Graduation from St. Xavier's College, Kolkata with a B.Com (Honours) Degree and will also be joining Narsee Monjee Institue, Mumbai as an MBA student this year. 

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Sunjjoy Chaudhri

(Business Case Study Expert)

A Lenskart case study: The Art of Luxury Eyewear

Introduction about lenskart case study.

Lenskart is an Indian company that sells various types of eyewear, including glasses, sunglasses, contact lenses, and eye care accessories. They started in 2010 and now have over 700 retail stores all over India.

To stay on top in the eyewear industry, Lenskart uses smart marketing strategies to reach their target customers and make their products known. They advertise through social media, search engines, influencers, and traditional methods like offline advertising. This helps Lenskart build its brand, stand out from competitors, and increase sales.

This blog will explore Lenskart Case study, how Lenskart marketing strategy has contributed to its success. We’ll look at the different ways they promote their products, assess the effectiveness of their campaigns, and highlight the importance of marketing in achieving their business goals. Moreover, we’ll provide useful information and recommendations for other businesses aiming to create effective marketing plans for their own products or services.

About lenskart Conpamy

Lenskart, founded in 2010 by Peyush Bansal, Amit Chaudhary, and Sumeet Kapahi, is an Indian eyewear company. Initially an online platform, it has expanded to include over 700 retail stores across more than 175 cities in India.

Lenskart offers a wide range of eyewear products such as prescription glasses, sunglasses, contact lenses, and eye care accessories. They have their own brands like John Jacobs, Vincent Chase, and Mask, in addition to selling products from other popular brands.

Their website provides helpful tools like virtual try-on, home eye check-ups, and a 3D try-on experience. With virtual try-on, customers can see how glasses look on their face without physically trying them on. Lenskart also offers personalized lenses, free home delivery, and a 14-day return policy.

Lenskart has a significant presence in the Indian market and is one of the leading eyewear brands in the country. They have successfully captured a substantial share of the online eyewear market and expanded their reach through offline retail stores.

Through their innovative ideas, diverse eyewear options, and strong online and offline presence, Lenskart has become a prominent player in the Indian eyewear industry. They always introduce new and imaginative eyewear styles to meet customer demands and have established a solid position in the market.

Lenskart marketing Strategy

Marketing is crucial for businesses as it helps them grow by increasing brand awareness, attracting new customers, and boosting product sales. Lenskart, a successful eyewear company, has adopted a multi-channel marketing approach to reach its target audience. They use various digital marketing channels like social media, search engines, and influencers, along with offline advertising like billboards, TV commercials, and print ads.

Lenskart marketing Strategy focuses on providing a seamless customer experience through their online platform. They offer convenient features like virtual try-on, home eye check-ups, and a 3D try-on experience. They also provide services such as free home delivery, a 14-day return policy, and dedicated customer support.

To stand out from competitors, Lenskart employs strategies like celebrity endorsements loke katrina kaif, strategic partnerships, and innovative marketing campaigns. Their private label brands like John Jacobs, Vincent Chase, and Mask contribute to their unique brand identity.

In summary, Lenskart’s marketing strategies have played a significant role in their growth and success. Their multi-channel approach, emphasis on customer experience, and innovative campaigns have helped them establish a dominant position in the Indian eyewear industry.

Lenskart Business Model

Lenskart offers a wide range of eyewear options, including over 5000 frames and glasses, and more than 45 types of lenses. They have a team of designers who stay updated with the latest trends and work closely with manufacturers to create new designs.

To make their products accessible to more people, Lenskart has opened offline stores through franchise partnerships. They currently have 500 stores across 66 cities, including smaller towns. They serve thousands of customers every day and plan to increase their reach in the future.

There are four key factors that contribute to Lenskartsuccess in this industry: product quality, variety, timely delivery, and good customer service. They offer high-quality products at affordable prices. With a team of over 1000 employees, they handle manufacturing, eye technicians, customer service, technology, and logistics to meet the growing demands.

Lenskart Franchise

Lenskart, one of India’s largest online eyewear retailers, offers franchise opportunities for entrepreneurs looking to start their own businesses. Here are some details on the franchise cost and requirements, the benefits of owning a Lenskart franchise, and marketing strategies for franchise owners.

The initial investment required to start a Lenskart franchise ranges from INR 30-50 lakhs (approximately USD 40,000-68,000), depending on the location and size of the store. The franchisee must have a minimum floor space of 400-500 sq. ft. and a good location with high footfall. Other requirements include a security deposit, store interiors, inventory, and staff salaries.

Benefits of Owning a Lenskart Franchise:

Owning a Lenskart franchise offers several benefits, including:

• Established Brand: Lenskart is a well-known brand in India and has a strong market presence, making it easier for franchisees to attract customers.
• Support and Training: Lenskart provides extensive training to its franchisees on product knowledge, customer service, and marketing strategies.
• Marketing Support: Lenskart provides marketing support to its franchisees, including national advertising campaigns, social media marketing, and local promotions.
• High Margins: The eyewear industry has high margins, and Lenskart offers competitive pricing, allowing franchisees to earn higher profits.

Lenskart Marketing Strategies for Franchise Owners:

Here are some marketing strategies that Lenskart franchise owners can use to promote their stores and attract customers:

• Local Promotion: Host events, such as eye check-up camps, eye health awareness drives, and free eye tests, to attract customers to the store.
• Social Media Marketing: Use social media platforms like Facebook and Instagram to promote the store, offer discounts, and showcase new collections.
• Referral Programs: Offer incentives to customers who refer friends and family to the store, such as discounts on future purchases.
• Loyalty Programs: Offer a loyalty program to incentivize repeat purchases and build customer loyalty.

In conclusion, owning a Lenskart franchise can be a lucrative opportunity for entrepreneurs interested in the eyewear industry. With an established brand, extensive training, and marketing support, franchisees can successfully promote their store and attract customers using local promotions, social media marketing, referral programs, and loyalty programs.

lenskart’s Valuation and Future Prospects

Lenskart is one of the leading online eyewear retailers in India, founded in 2010 by Peyush Bansal, Amit Chaudhary, and Sumeet Kapahi. Here are some details on Lenskart’s current valuation, future prospects, and role in the Indian eyewear industry.

Current Valuation:

Lenskart has seen significant growth in recent years and has become one of the most valuable startups in India. In December 2020, Lenskart raised $276 million in a funding round led by SoftBank Vision Fund 2, valuing the company at $1.5 billion.

Future Prospects:

With the increasing adoption of e-commerce and the growing demand for eyewear in India, Lenskart is well-positioned for future growth. The company plans to expand its product offerings, open more physical stores, and further develop its technology capabilities to improve the customer experience.

Lenskart’s Role in the Indian Eyewear Industry:

Lenskart has played a significant role in transforming the Indian eyewear industry by offering high-quality eyewear at affordable prices and making it more accessible through its online platform and physical stores. The company has also introduced innovative technologies such as the 3D Try-On feature, which allows customers to virtually try on frames before making a purchase.

Lenskart has also launched its own range of private-label eyewear, including frames, sunglasses, and contact lenses, offering customers more options at competitive prices. In addition to its online platform, Lenskart has a rapidly expanding network of physical stores, with over 700 stores in more than 175 cities in India, making it one of the largest optical retail chains in the country.

In conclusion, Lenskart’s current valuation and future prospects show that it is a leading player in the Indian eyewear industry. With its innovative technology, affordable pricing, and expanding physical presence, Lenskart is well-positioned for continued growth and success.

Recap of Key Takeaways from the Blog:

In this blog, we explored various aspects of Lenskart, one of the leading online eyewear retailers in India. We discussed Lenskart’s history, products and services, marketing strategies, franchise opportunities, and future prospects. Here are some key takeaways from the blog:

• Lenskart was founded in 2010 and has become one of the most valuable startups in India.
• The company offers a wide range of eyewear products and services, including frames, sunglasses, contact lenses, and reading glasses.
• Lenskart’s marketing strategies include digital marketing, social media marketing, and innovative advertising campaigns.
• Owning a Lenskart franchise can be a lucrative opportunity, and franchise owners can benefit from the company’s marketing support.
• Lenskart’s current valuation is $1.5 billion, and the company is well-positioned for future growth.

Final Thoughts on Lenskart Marketing Strategies and Future Prospects:

Lenskart has established itself as a leading player in the Indian eyewear industry through its innovative marketing strategies, high-quality products, and expanding physical presence. The company’s marketing approach, which includes a focus on digital marketing and social media, has helped it reach a wide audience and build a loyal customer base. Lenskart’s private label eyewear and 3D Try-On feature have also set it apart from competitors and helped it build a strong brand identity.

With its current valuation of $1.5 billion and plans for further expansion, Lenskart is well-positioned for future growth and success. As the Indian eyewear market continues to grow, Lenskart’s innovative marketing strategies and customer-centric approach will likely continue to be a key drivers of its success. For More Such Case Studies Visit sunjjoychaudhri.com

Sunjjoy Chaudhri Has Been an Entrepreneur Since the Age Of 23, Sunjjoy Chaudhri is a Founder of Setup Mastery, Fxpopsan Exchangers and Malgangas Consultancy. Sunjjoy Chaudhri is a Highly Accomplished and renowned business consultant based in Pune. With an Impressive track Record and a Wealth of Experience, Sunjjoy has Established himself as one of the best Business Consultants in the Region

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• Cyber Tales

• Lenskart Case Study: Unveiling Authenticity in Digital Storefronts

• Security Features: 

The rise of e-commerce has brought about a wave of counterfeit websites, particularly those pretending to offer business franchises, including popular brands like Lenskart . These fake sites mimic real franchise opportunities, tricking people into giving out personal information or investing money fraudulently. This issue not only harms individuals looking for business opportunities but also damages the reputation of legitimate brands such as Lenskart. By comparing a counterfeit site to an authentic one, we can see the clear risks and learn how to spot and avoid these scams, protecting both our investments and personal information.

Key Differences

Domain name:  .

 Fake: The domain in the first image is ‘lenskartpartners.online’, which is not the official domain.  

Original: The legitimate Lenskart website uses ‘lenskart.com’, reflecting the brand’s actual name with a standard .com extension.  

Website Design and Layout:  

Fake: The design appears cluttered and lacks the polished, professional look of an established brand.  

Original: The genuine website has a clean, well-organized layout, with high-quality graphics and a clear navigation structure.  

Logo and Branding:  

Fake: The logo may be distorted or of lower quality. Brand colors and fonts may not be consistent with the official branding.  

Original: The authentic site features a high-resolution logo and consistent use of brand colors and typography.  

Content Quality:  

Fake: There may be noticeable spelling errors, grammar issues, or awkward phrasing that would not be present on a professional website.  

Original: The legitimate site has well-written content, free of such errors, reflecting the company’s professional standards.  

Security Features:  

 Fake: Lack of secure protocols such as HTTPS and absence of security badges that are usually present on genuine e-commerce sites.  

 Original: The official site uses HTTPS, indicating encryption, and may display security certifications or trust badges.  

 Practical Tips for Consumers  

• Always verify the website’s domain name and check for a secure HTTPS connection before making any transactions.  
• Look for inconsistencies in website design, logo quality, and content that may signal a counterfeit site.  
• Be wary of any website that asks for unnecessary personal or financial information.  
• Use official apps or links from trusted sources like the App Store, Google Play, or the brand’s official social media pages.  
•  If in doubt, contact the brand directly through official channels to confirm the authenticity of a website.  

Conclusion  

In today’s digital marketplace, distinguishing between genuine and counterfeit online presences has become a critical challenge. The subtleties between real and fake websites are often minimal, yet failing to recognize these differences can lead to significant repercussions for both consumers and brands. The importance of vigilance cannot be overstated, as the digital realm is rife with counterfeit websites that skillfully mimic reputable brands, aiming to deceive consumers and tarnish the reputations of established entities.

The case study of Lenskart exemplifies the necessity for continuous monitoring and proactive measures against such fraudulent activities. It highlights how attention to detail—such as scrutinizing domain names, assessing the quality of website design, verifying logo authenticity, evaluating content integrity, and inspecting security features—can be instrumental in discerning a website’s legitimacy. For brands, the battle against counterfeiting doesn’t stop at mere observation. It extends to the implementation of robust brand protection strategies that safeguard their identity and preserve the trust of their customers.

Brands like Lenskart are increasingly recognizing the need to invest in comprehensive brand protection services. Solutions like C9Lab ‘s Qsafe play a pivotal role in this endeavor, offering advanced tools and methodologies to detect, analyze, and mitigate the risks associated with counterfeit websites. These services not only protect the brand’s intellectual property but also ensure a safe and trustworthy environment for their customers. By leveraging such protective measures, brands can effectively counter the sophisticated tactics employed by counterfeiters, thereby securing their online presence and maintaining the integrity of their customer relationships.

Furthermore, educating consumers about the potential risks and indicators of counterfeit websites is equally important. Awareness campaigns and clear communication from brands can empower consumers to make informed decisions, significantly reducing the likelihood of falling victim to online scams. In addition, regulatory bodies and cybersecurity experts must collaborate closely with brands to develop and enforce stricter guidelines and penalties for those engaging in counterfeit activities.

In conclusion, the digital age demands a vigilant and proactive approach to brand protection. The case of Lenskart serves as a reminder of the ongoing challenges faced by brands in securing their online identity and the critical role of innovative solutions like C9Lab’s Qsafe in navigating these challenges. Through concerted efforts in technology, consumer education, and regulation, the digital marketplace can become a safer space for both brands and their customers, ensuring the authenticity and integrity of online interactions.

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By using TransMon to foster regular transaction reviews, special focus on query resolution, 100% voice feedback in their support team, Lenskart has seen improvement in Query Resolution scores from 84% to 90%.

About The Client

Lenskart had entered India’s ‘unicorn’ club about 2 years back, has more than 750 retail stores and online channels across 175 cities in India. It has an active presence in Singapore, West Asia, and the USA.

Lenskart plans to hire over 2,000 people across functions by 2022. It is a popular brand, used by more than a million consumers– not just for the awesome product range that they offer – but also for brand’s commitment towards ‘Customer Obsession’.

From front desk customer service executive to top leadership, which includes co-founder Piyush Bansal & Amit Chaudhary, everyone across the board is committed to providing outstanding customer experiences with every customer interaction.

During pandemic, when their Customer Service experts started working from home or remote locations, Lenskart continued to keep its focus on offering excellent customer care to the customers. They were quick to respond to urgent need of Automating & Digitizing their Quality auditing processes, which will enable Customer Service team in delivering regular, effective, efficient & actionable agent feedback. They know that continuous coaching of frontline staff is key to maintain and improve their query resolution rate.

90 days post-TransMon deployment, they are happy to see that improved QA procedures, regular voice feedback to CSR, timely alarms to management have resulted in increased query resolution scores.

How Did Transmon help?

• CQ forms digitized and uploaded on TransMon facilitating automation.
• Revised stratified sampling for better campaign management and amplifying the overall efficiency of the auditing process.
• Voice coaching and feedback empowered the workforce through regular, effective, efficient & actionable agent feedback.
• Building on the pillars of overall quality monitoring framework automation, OpsGuru provided better control and visibility of the overall health of the process to the management through its actionable intelligence & BI reports.

For these reasons, Lenskart leadership started to look for alternatives to using spreadsheets to support quality auditing program. Lenskart found TransMon promising to do everything they’d been looking for. Some key operational benefits that they have accrued in a short span of 90 days are:-

• No more waiting for the gigantic spreadsheet to load
• No manual copy-pasting ever again.
• 100% Feedback delivered digitally which is actionable: the transaction monitoring team voice records feedback for each transaction which reaches every agent in near-real time. Lenskart has complete visibility around effectiveness and efficiency of feedback process.
• Reliability of the tool: with Transmon there is no fear of misplaced data or typing errors.
• Actionable dashboards: business discovery is easy. No manual intervention required
• Automatic notification: TransMon notifies agents about the feedback they’ve received, so nobody has to do extra work to deliver transaction monitoring results to the team through zoom or over emails.

If you’re looking for a way to boost the quality of your customer service without sacrificing your team’s productivity, give TransMon ago. Make agent feedback a seamless part of your support operations and help your agents excel at their job.

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