Introduction: Seeing a Clear Opportunity
In a country where millions suffer from vision problems but lack access to affordable eyewear, one man saw clearly — and built a solution. Peyush Bansal, once a Microsoft employee, is now the co-founder of Lenskart, India’s leading eyewear brand valued at over $5 billion.
What began as a contact lens e-commerce site has transformed into a vertically integrated omnichannel giant, operating 2,500+ stores globally and disrupting a century-old optical industry.
The Man Behind the Vision: Peyush Bansal
Born in 1985 in New Delhi, Peyush Bansal studied Electrical Engineering at McGill University in Canada. After a stint at Microsoft in the U.S., he returned to India to pursue something more impactful — solving real-world problems with technology.
He started with a student classifieds site, SearchMyCampus, followed by a few niche e-commerce experiments like Flyrr (eyewear for the U.S.), Watchkart, and Bagskart. These ventures taught him one critical thing: focus.
Founding Lenskart: From Lenses to Lifestyles
In 2010, Bansal co-founded Lenskart with Amit Chaudhary and later Sumeet Kapahi. What started as a contact lens delivery platform quickly expanded into prescription glasses and sunglasses.
But Bansal didn’t just want to sell eyewear — he wanted to transform the way India sees. He introduced innovations like:
- 3D virtual try-on technology
- Free home eye checkups
- AI-powered recommendation engines
- Next-day delivery
This digital-first, tech-led approach built trust in a traditionally offline category.
Owning the Supply Chain: A Strategic Masterstroke
Lenskart’s turning point came when it decided to manufacture its own eyewear. It invested heavily in automated factories — first in New Delhi and later in Bhiwadi, Rajasthan, capable of producing over 50 million frames a year.
With full control over design, production, and delivery, Lenskart ensured quality, affordability, and scalability — a rare combination in retail.
Going Omnichannel & Global
By 2014, Lenskart began opening offline stores, integrating physical and digital experiences. Today, it operates 2,500+ stores across India, Southeast Asia, the Middle East, and parts of Europe.
In 2022, it acquired Japanese eyewear chain Owndays in a $400M deal, making it one of the top 3 optical retailers in Asia.
Fundraising & Financials
Lenskart has raised over $1 billion from marquee investors like:
- SoftBank Vision Fund
- Temasek
- KKR
- Alpha Wave
- ChrysCapital
By FY2024, the company crossed ₹5,400 crore in revenue and significantly narrowed its losses, putting it on a strong path toward a public listing.
Culture & Leadership
Bansal is known for his humility, customer obsession, and deep strategic thinking. He fosters a culture of agility and ownership at Lenskart. As a judge on Shark Tank India, he also mentors early-stage startups, investing both time and capital.
Key Milestones
| Year | Milestone |
|---|---|
| 2010 | Lenskart founded |
| 2013 | Launches physical stores |
| 2017 | Launches own eyewear brand John Jacobs |
| 2020 | Reaches 700+ stores |
| 2022 | Acquires Owndays (Japan) |
| 2024 | Crosses ₹5,400 Cr in revenue |
Lessons from Peyush Bansal
- Solve a Real Problem: Eyewear access was underserved in India.
- Fail Fast, Learn Faster: Early e-com ventures paved the way.
- Own the Value Chain: Manufacturing gave Lenskart speed and control.
- Tech Is a Superpower: Use it to simplify and scale.
- Culture Compounds: Empower people, stay frugal, think long-term.
Final Word
Lenskart isn’t just an eyewear company — it’s a visionary brand. From solving everyday vision needs to redefining retail in India, Peyush Bansal’s journey is a masterclass in resilience, innovation, and purpose-led entrepreneurship.
