Peyush Bansal Height, Age, Wife, Family, Biography & More

Some Lesser Known Facts About Peyush Bansal

• Peyush Bansal, an Indian entrepreneur, is renowned as the co-founder and CEO of Lenskart, a prominent eyewear chain.

• He was raised in a Delhi-based family belonging to the middle-class.

• Following his graduation, Peyush began his tenure as a Program Manager at Microsoft in Redmond, Washington in 2007. During his time there, he dedicated himself to enhancing customer satisfaction. After approximately one year, Peyush decided to resign from his role at the company and returned to India.

• He had a desire to establish his own company in India, thus he embarked on a quest for potential business concepts.

• SearchMyCampus, a campus classifieds portal, was launched by Bansal in 2007. This platform facilitated connections between college students and various service providers, including accommodation, internships, transportation, books, and part-time jobs.

• Afterward, he proceeded to establish several additional startups that achieved a notable level of success. Nevertheless, he yearned to accomplish something greater.

• started Lenskart in 2010 as an online platform for contact lens sales. Within a year, the company diversified its offerings to include eyeglasses and sunglasses.

• Many of his eyewear startups, including John Jacobs (2015), Aqualens (2019), Lenskart Plus (2020), and Lenskart Vision Fund (2020), have been funded by his project Lenskart.

• Lenskart achieved unicorn status in 2019, boasting net assets worth $1.5 billion. A unicorn refers to a privately held startup company that garners a valuation exceeding $1 billion.

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• By 2022, Lenskart has established approximately 600 retail stores and employs about 4000 individuals across 450 cities in the nation.

• Peyush Bansal was seen in December 2021, taking on the role of a judge, or “shark,” in the Indian version of the popular business reality TV show called ‘Shark Tank India.’ This Indian version is based on the American show ‘Shark Tank.’ A photograph captured Bansal at the filming location of Shark Tank India.

• During his free time, Peyush enjoys exploring new places and indulging in the world of movies.

• He regards Bill Gates, the American business magnate, as his role model.

• Lenskart has chosen Bollywood actress Katrina Kaif as their brand ambassador, with her endorsing the company.

• Peyush Bansal is frequently observed drinking alcohol during different events, while also savoring a meal at a restaurant.

• During an interview, Peyush was asked about his definition of success. He responded by saying that true success lies in continuously surpassing one’s own expectations and bringing joy to both customers and employees.

• During an interview, Bansal explained his motivation to start Lenskart. Initially, he had the idea for Searchmycampus, a platform that connected college students with service providers. The website operated like classifieds but without online transactions. Revenue was generated through advertisements and also by creating websites for colleges and hostel owners. However, the most successful model was selling leads to educational institutes and PGs. Classifieds did not generate enough income and lacked scalability. With a focus on rapid scalability, the concept of LensKart was born. With funding, LensKart.com was launched, but it came with demanding objectives. Over time, it became clear that maintaining Searchmycampus.com was impractical due to difficulties in addressing customer needs. Consequently, Searchmycampus.com was shut down in 2010 as there was no time or resources to find a buyer for it.

• During an interview, Peyush shared his journey with Lenskart. He explained that Lenskart.com, which was founded in 2010, is a well-known online retailer in India specializing in trendy eyeglasses, sunglasses, and contact lenses. Over the years, it has become the leading eye-wear portal in the country, experiencing significant growth with a 300% increase in turnover and employing 150 individuals. Lenskart.com offers a wide range of products, including more than 5,000 stylish frames and glasses, as well as 45 varieties of high-quality, scratch-resistant, and unbreakable branded contact lenses. It stands out by providing a vast selection of both prescribed and fashion eye-wear from renowned manufacturers like Ray-Ban, Oakley, Tag Heuer, Fastrack, Sprint, Vintage, Johnson & Johnson, Ciba Vision, Bausch + Lomb, CooperVision, and more. Currently, the company has received funding from two venture capitalists, IDG Ventures and Ronnie Screwvala-led Unilazer Ventures. Peyush added that the website operates in over 450 cities in India, offering unmatched services such as online assistance for choosing eyewear, strict quality assurance, personalized services, fast deliveries, a one-year product warranty, a 14-day return policy without any questions asked, convenient payment options, and unbeatable prices. Since there is no intermediary involved, Lenskart.com is able to offer customers almost 70% lower prices by passing on the savings from reduced costs. The frames available on the website are carefully manufactured in top-tier facilities and undergo three inspections to ensure quality before being sent to customers.