Lenskart's Secret Success Strategy | Startup Buzz | Mint

Summary

Lenskart, founded by Peyush Bansal in 2008, has become a leading eyewear brand in India through its innovative strategies. With an Omni-channel approach, Lenskart offers a seamless online and offline experience, including home eye checkups and virtual trials. In-house manufacturing and celebrity endorsements enhance its market presence. High-quality products, a D2C model, and strong SEO contribute to its success. Lenskart plans to expand with 1000 stores in India and enter new markets like China and the Middle East.

Takeaways

• 😀 Lenskart was founded by Peyush Bansal in 2008, focusing on selling eyewear online in the United States.
• 🌐 Lenskart's success is attributed to its Omni Channel strategy, blending both online and offline presence.
• 👓 They offer a wide range of eyewear, including prescription glasses, contact lenses, and sunglasses with 5000 different models.
• 🏠 Lenskart provides free home delivery and a 14-day replacement guarantee to enhance customer experience.
• 🖥 The brand introduced virtual trials on its website and apps, allowing customers to try on glasses virtually.
• 🏭 Lenskart manufactures its own eyewear, establishing an in-house manufacturing unit after sourcing materials from China.
• 🌟 They have leveraged celebrity associations, such as Katrina Kaif and Virat Kohli, to boost brand recognition.
• 🛡 Lenskart emphasizes high-quality products, using innovative technology like Blue cut lenses for UV protection.
• 📱 They employ a D2C (Direct-to-Consumer) approach, selling directly through digital platforms and collecting customer feedback.
• 📈 Lenskart excels in SEO, attracting 1.3 million organic monthly visitors from Google, contributing to its strong online presence.
• 📈 The company plans to open 1000 stores across India and expand into new markets like China and the Middle East.

Q & A

What is the name of the startup founded by Peyush Bansal?

The startup founded by Peyush Bansal is Lenskart.

In what year was Lenskart founded?

Lenskart was founded in the year 2008.

What type of products does Lenskart specialize in selling?

Lenskart specializes in selling eyewear, including prescription glasses, contact lenses, and sunglasses.

How many different models of eyewear does Lenskart offer?

Lenskart offers 5000 different models of eyewear.

What is the significance of Lenskart being an Omni Channel brand?

Being an Omni Channel brand means Lenskart has a strong presence both online and offline, allowing customers to book eye checkup appointments and purchase products through various channels seamlessly.

What is the benefit of Lenskart's virtual trial feature?

The virtual trial feature on Lenskart's website and apps allows customers to try on eyewear virtually before making a purchase, enhancing the shopping experience.

How does Lenskart's in-house manufacturing contribute to its success?

Lenskart's in-house manufacturing unit allows it to control the quality and production of its eyewear, contributing to its market leadership and ability to offer high-quality products.

Which celebrities have been associated with Lenskart for brand promotion?

Katrina Kaif and Virat Kohli are among the celebrities who have been associated with Lenskart for brand promotion.

What is special about Lenskart Blue lenses offered by the company?

Lenskart Blue lenses are made from Blue cut lenses that protect the eyes from harmful UV rays, ensuring both style and eye protection.

How does Lenskart's D2C approach benefit its customers?

Lenskart's Direct-to-Consumer (D2C) approach allows it to sell eyewear directly through digital platforms, enhancing customer service by collecting feedback and offering exactly what customers need.

What is the role of SEO in Lenskart's online strategy?

Lenskart's SEO strategy is crucial as it makes their website SEO-friendly, leading to top rankings and organic traffic, with 1.3 million visitors per month from Google.

What are Lenskart's expansion plans for the next five years?

Lenskart plans to open 1000 stores across India and enter new markets, including China and the Middle East, within the next five years.