Is Lenskart a Chinese company?

The news release is provided for informational purposes only. The content will not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this site nor our affiliates shall be responsible for any errors or inaccuracies in the content, or for just about any actions taken by you in reliance thereon. You expressly concur that your use of the information within this article reaches your sole risk. Lenskart entered the center East market last year with the opening of its flagship store in Dubai Festival City Mall.
After graduating from McGill University in Canada with a Bachelor’s in Electrical Engineering, Bansal landed employment at tech giant Microsoft. He quickly made a name for himself, and then abruptly quit in 2006 to return to India to pursue his dream of becoming an entrepreneur. In 2007, he launched Valyoo Technologies with SearchMyCampus, a classified site for students that provided options for everything from internship opportunities to carpooling and accommodation. After deciding to show his attention to e-commerce, he started to search for new ideas, a decision that ultimately led him to Lenskart. Lenskart raised its first round of funding from IDG Ventures India in 2011. IDGVI invested around INR22 crore (US$3.6 million) in Valyoo Technologies, the parent company of Lenskart.com.

The company is situated in Chicago, United States and comes with an estimated revenue in the number of $1,000 to $10,000 million and employee of Above respectively. Financial backers of Lenskart include TPG Growth, International Finance Corp, and Adveq Management. Ratan Tata and S Gopalakrishnan have also invested in Lenskart. In March 2018 Wipro Chairman Azim Premji invested 400cr in the group taking the valuation of the business to 3000 Crore.

Ethiopia Set To Obtain Its Long

Some manufactures like Ray-Ban, Essilor have their own online stores. Lenkart may offer its franchise partners a great deal, nonetheless it doesn’t stop there. Portion of the reason it’s managed to capture such a large share of the market is right down to the special offers it gives its customers.

Every month, around 300,000 glasses are manufactured in its Delhi manufacturing facility. Aparna Rawat Lenskart RESEARCH STUDY, Lenskart History, Lenskart Valuation 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. Since its launch, Lenskart is continuing to grow phenomenally and now ranks among the fastest-growing retail businesses in India.

‘lenskart’

Book an appointment now to get your eyes properly tested with an avowed optician or optometrist. Luxottica also operates one of many fastest growing managed vision care networks in the usa through EyeMed. Has UV protection logo UV protection may be the primary function of sunglasses. Some sunglasses have “100% UV protection”, “UV400″, and “UV protection” logos on … Confronted with reality, sunglasses can truly transform a guy right into a “cool” ultimate identity. In fact, there are very few men’s accessories that may enhance the appearance like th… Augmented Reality and Virtual Reality blur the line between your real and the digital, and may redefine e-commerce.

• “The most successful companies constantly discover a way to delight their customers.”
• Predicated on what has been happening in the past, we have definitely ordered a lot of equipment and are along the way of ramping up our manufacturing capabilities for frames,” Lenskart founder and CEO Peyush Bansal told Economic Times.
• So as to reach the masses, they will have also ventured into offline stores through the franchises model.
• more.
• Founded in 2010 2010, Lenskart is Asia’s largest omnichannel retailer and manufacturer of premium quality and contemporary eyewear.

They will have balanced the reach by spreading out across metro and non-metro locations and so are currently serving a lot more than 4000 people per day and considering scaling it around 200,000 people in the coming years. Peyush Bansal the Founder and CEO of LenskartPeyush launched his company Valyoo Technologies with SearchMyCampus as the first business portal in 2007. It had been a classified site for students that provided options for accommodation, books, part-time jobs, carpool facilities, and internship opportunities. When that became a large hit, Peyush wanted to explore the e-commerce world. While exploring opportunities the eyewear segment caught his eye and inspired him to come up with his own. Along with stores, Lenskart also has a strong digital presence.

Related Products

The company claims to have 500 offline stores and looking to expand 150 more stores by March 2020. Lenkart offers 5000 varieties of eyewear available and provides 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.
If you take enough time to take into account how your firm functions, you can answer these questions. The CEO of Lenskart believes that businesses should prioritise making certain customers are happy with their purchases or experiences. People would want to come back and buy more from you in the foreseeable future should they like what they’re getting. Piyush Bansal believes that everyone comes with an inbuilt need to be happy also to be treated decently.