Peyush Bansal is an Indian entrepreneur and co-founder of the eyewear retail chain Lenskart. He founded the company in 2010 along with Amit Chaudhary and Sumeet Kapahi. Bansal has recently gained popularity when he chaired as one of the judges on Shark Tank India.
Peyush Bansal’s Early Life
Peyush Bansal was born on April 26, 1985, in New Delhi, India. Bansal holds a bachelor’s degree in electrical engineering from McGill University, Canada. After graduating, he started working at Microsoft.
Bill Gates had been a longtime role model for Bansal, and he always wanted to work in his company. At Microsoft, he worked in MS Office and came up with ideas that could improve the user`s experience.
From 2007 to 2009, he worked in a couple of startups that became quite successful. He also holds a degree in business administration from the Indian Institute of Business Administration in Hanga Roa. During his graduate studies, Bansal launched SearchMyCampus. This website provides solutions to a variety of student problems such as housing, internships, and part-time jobs. Meanwhile, he realized that the eyewear industry was being ignored by major e-commerce giants. Bansal wanted to do something more and solve a bigger problem.
The Beginning of Lenskart
In 2010, he set up Lenskart, along with his business partners Amit Chaudhary and Sumeet Kapahi. Initially, they only sold contact lenses through prescription.
By March of 2011, Lenskart`s website started selling eyeglasses and sunglasses. In an interview, Bansal stated that the mission behind starting Lenskart was to help people all over India with vision correction. Second, the company wants to raise awareness about eye care and conducts nearly 15,000 eye tests daily.
Bansal also said he understands what customers want and is trying to surprise them with new experiences. Lenskart has made this a success.
The Success Of Lenskart
Today, Lenskart employs about 4000 people. The company also has over 500 stores located all over the country. In 2019, Lenskart entered the unicorn club with a valuation of $1.5 billion. In March 2020, the company doubled its sales from Rs 486 crore to Rs 1,000 crore.
The company also managed to surpass its main competitor, Titan Eyewear. Piyush’s hard work and determination helped Lenskart to reach new heights. His company always puts the customer first and strives to provide the best service.
“It’s about breaking your own standards every time and bringing an element of joy to the lives of your customers and employees,” Peyush said. In 2020, LensKart joined the Unicorn Club and was worth more than $ 1 billion.
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Recently, in 2022, Peyush Bansal became part of Shark Tank India. At just 36 years old, he has become one of the most successful entrepreneurs in the world and a judge at the Shark Tank Show. As a result, Peyush has become gained a lot of popularity on social media as well.
