If you looked around you right now, no matter where you are, there is a possibility that every third person you set your eyes on could be sporting spectacles. Yeah, some of those are prescribed glasses, others are mere fashion accessories, while some are wearing them merely to save their eyes from the 8-hour-long scare that awaits them day after day at work. Eyewear has been a raging fashion trend for the past couple of seasons as it is, but over the years, the aam aadmi has also been experimenting with his eyewear designs. This growing rage and a potential for a lucrative business in the optical industry was spotted by an electrical engineer working with Microsoft, of all people.
A need to build something of his own and a passion to be at the top in whatever he did, this is the story of Peyush Bansal who gave India its leading online eyewear portal - which has since changed how Indians take care of their eyes. An electrical engineer in IT, Control and Automation by degree, from McGill University in Canada, Peyush found himself in a happy position after completing his engineering degree when he landed a fancy job with Microsoft in the US after many failures and retakes.
However, within a year of being there, and regardless of the great time he was having at the firm, Peyush decided to follow his heart's calling. He came back to India to pursue his MBA from IIM Bangalore. It was around this time that he launched his company Valyoo Technologies with SearchMyCampus as his first business.
SearchMyCampus was an online classifieds website specifically meant for students and covered everything from accommodation to books, part-time jobs, carpool facilities, internships, besides a lot more. It became a huge hit and motivated Peyush to explore the e-com space further. That's how he launched Flyrr.com which focused on the eyewear industry in the US. It was the success of this venture that finally pushed Peyush to redirect his attention towards the need to solve bigger, more pertinent issues that affected people on a personal level. That's when the alarming figures of the optical industry in India caught his attention. Peyush found out that around 600-700 million Indians needed spectacles, out of which only 170 million used any. With this data to fall back on and a desire to alleviate the consumer problems in sight, Peyush finally launched Lenskart in 2010.
Peyush went on to establish one of India's most successful online eyewear portal with an enviable product range that includes spectacles, sunglasses, contact lenses and even at-home eye check-ups for those who can't but wish to enjoy the best quality services and affordable prices.Peyush aims to conquer 50 per cent of the Indian market where half of India forms its consumer base. Move to 2018, and today they sell over 300,000 spectacles a month, with a 1000 crore annual turnover.
People, young and old know the name of his company and the valuable services they provide. Apart from quality goods, Lenskart today stands synonymous to great customer support, and this aspect about the company has its customers hooked. Hear it from the man himself, as he talks to MensXP about his riveting journey from being an engineer to being the mastermind behind India's favourite online eyewear portal, and how it feels to be a global name in the industry.