Bansal, who laid the foundations of the three largest e-commerce portals Flipkart, Snapdeal and Myntra.com in India, is familiar to most but another Bansal who chose an area for e-commerce business that despite the immense business potential Was away from the eyes of others. Yes, who started the online optical store named Lenskart.com in the year 2010 Piyush Bansal Today ranks among the list of the most successful startup entrepreneurs in the country, but they had to face many difficulties to reach this position of success.
Piyush’s chartered accountant father wanted his son to study a lot and do a fantastic job. The father never let the son’s education fall short. Piyush too did a lot of education not disappointing his father and joined Microsoft in USA after getting an engineering degree from Canada. His annual package here was also very good but after working for a few years, he got bored of his job. In 2007, he decided to return to India. His parents were extremely upset with Piyush’s decision. He tried to convince the son a lot but Piyush did not agree.
After returning home, Piyush started planning to start his own business instead of working in a company. E-commerce was a new concept in India at that time and there was immense potential in this field. Piyush too started a classified website, SearchMy Campus.com, to try his hand in this field. This website used to provide facilities like accommodation, books, carpool facility, part time job opportunities etc. to the students. This website ran for three years. By 2010, the online business in India had grown rapidly. For the same sector, he launched four websites called Lenskart.com, Jewelery.com, Watchkart.com and Bags.com for online sales of eyewear, jewelery, watches and bags.
With the slowly changing times, Piyush focused only on Lenskart.com and succeeded in making it the country’s largest on-line optical store. Today Lenskart has also opened its offline store in all the major cities of the country with all modern facilities. Not only this, the company is currently providing services to more than 1 lakh people every month with the help of its 500 outlets. Lenskart is expanding its business across the country, adopting the franchise model.
Experts believe that the lens business is highly profitable. Sometimes a margin of up to 500 per cent is possible. And to start such profitable businesses on a large scale through technology is truly revolutionary. And because of this, Lenskart is progressing on the path of progress day by day and currently the valuation of the company is beyond 11000 crores.
A small beginning that took place 10 years ago has reached every corner of the country. Success is achieved if it is carried forward with strong will and strong intentions.