10 Things You Didn’t Know about Lenskart CEO Peyush Bansal

Peyush Bansal

Peyush Bansal is an Indian entrepreneur. Currently, he is running Lenskart, which is an Indian retail chain that sells prescription eyewear. Since Bansal is an entrepreneur, it should come as no surprise to learn that he is one of the co-founders of the retail chain that he runs.

1. Born in Delhi

Bansal was born in Delhi, which is one of the true megacities of the world. As such, it makes sense that it would be one of a kind in a wide range of ways. For example, while Delhi is classified as one of India’s union territories, it possesses a fair amount of resemblance to one of India’s states, as shown by how it has its own legislature as well as its own high court. Likewise, its urban area isn’t limited to its borders but instead encompasses a number of its neighboring cities, which have been pulled into its orbit through the sheer weight of its incredible influence.

2. Studied At McGill University

Initially, Bansal studied at an Indian school. However, he went on to receive further education from McGill University, which can be found in the city of Montreal in the Canadian province of Quebec. For those who are unfamiliar, Quebec is famous for being a Francophone province. However, Montreal is unusual in that it has a very high number of residents who speak both English and French in a fluent manner. In fact, McGill University’s main language of instruction is English rather than French, though its students are permitted to write everything in French in most courses.

3. Studied Electrical Engineering

In school, Bansal studied electrical engineering, which is the part of engineering that encompasses everything related to electricity, electronics, and electromagnetism. As a result, it is further sub-divided for the sake of practicality, with examples ranging from computer engineering to power engineering. Besides this, it is interesting to note that electrical engineering is older than what most people would expect because it came into existence in the 19th century when telephones, electric telegraphs, and electric power started seeing more and more use.

4. Studied Entrepreneurship

Besides that, Bansal studied entrepreneurship at the Indian Institute of Management Bangalore. It seems safe to say that this was a very sensible course of action on his part. After all, running a business is tough because it requires a wide range of skills. However, running a start-up as an entrepreneur tends to be even tougher because there is minimal margin for error, meaning that even a small mistake can have catastrophic consequences for the start-up’s prospects in the long run.

5. Spent Some Time At Microsoft

For a time, Bansal was a program manager at Microsoft. However, that wasn’t enough for him, as shown by how he made the choice to leave his position to pursue his own path as an entrepreneur. Given Bansal’s current position, his is one of the success stories.

6. Lenskart Not His First Start-Up

Lenskart isn’t the first start-up founded by Bansal. In fact, it isn’t even the first eyewear-related start-up that he has founded. This is because Bansal founded Valyoo Technologies in 2008, which specialized in selling eyewear through the Internet in the United States. Presumably, Bansal’s earlier efforts as an entrepreneur provided him with valuable expertise and experience that he put to use in running Lenskart, thus contributing to its current success.

7. Runs a Business with a Hybrid Model

Bansal runs a business with a hybrid model in the sense that it operates in a click and mortar manner. Basically, this means that it has both online and offline operations, which enable businesses to target more of their potential market but requires more complexities in the process. This choice is unsurprising when one remembers that there are still huge swathes of the Indian population with either no access to the Internet or very limited access to the Internet. However, it will be interesting to see how Lenskart’s operations continue to change in the future because India is continuing to make a serious effort to make the Internet more available to Indians.

8. His Business Is Big Business

It is no exaggeration to say that Bansal’s business is big business. This is because it has more than 500 stores in 70 Indian cities, thus making it one of the biggest competitors in its chosen field. On top of that, it has plenty of room for expansion, meaning that it promises to become bigger and bigger still. One can’t help but be curious whether Lenskart will ever set its eyes on non-Indian markets, though for the time being, its international presence seems to be limited to a production facility in China that produces about 50 percent of its products.

9. His Business Has Become Profitable

One of the signs that a start-up has managed to make it is that it has become profitable. After all, a business needs to be capable of sustaining its own revenue-earning operations before it can become even start thinking about becoming profitable. This means that a profitable business has a much firmer existence than an unprofitable business, though the latter is a stage that a lot of start-ups have to pass through because of the time it takes for businesses to build up their presence in their chosen market. Naturally, surviving said process wouldn’t be possible without investors, who in turn, cannot be convinced to invest without a sense of confidence that their investments will be worth it in the long run.

10. Seems to Have a Vision

Like a lot of entrepreneurs, Bansal seems to have perceived a problem before stepping in to provide a solution. In his case, it is the poor state of eye health in India, which seems to be caused by a lack of awareness as well as a shortage of resources. It is interesting to note that Bansal made sure to point out that blindness and other eye problems didn’t just affect the victims but also everyone else around them in an article that he penned, which is true of either all or just about all health problems.


Add Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Chris Pavlovski
10 Things You Didn’t Know About Chris Pavlovski
Waste Management
The History of and Story Behind the Waste Management Logo
Heimo Scheuch
10 Things You Didn’t Know About Heimo Scheuch
Soutwest
The History of and Story Behind the Southwest Logo
Covered Put
What Is A Covered Put?
Retirement Plan
How Many Different Types of Retirement Accounts are There?
Stock
Should you Invest in Graf Industrial Corp Stock?
Retirement Home
What Does it Cost to Stay in a Retirement Home?
Explore Main Street in Historic Park City
The 20 Best Things to Do in Park City, UT for First Timers
Boarding House
The 20 Best Restaurants in Cape Cod
Melbourne, Australia
A Traveler’s Guide to Hiking in Melbourne, Australia
Cape Cod
A Traveler’s Guide to Hiking in Cape Cod
Lexus Interior
What Makes The Interior of a Lexus Different From Other Cars?
Lexus Hybrid Car
The 10 Best Lexus Hybrid Cars Money Can Buy
Lexus Cars 2
Who Makes Lexus Cars and Where are They Made?
2011 Lexus CT200H
The Five Best Lexus Hatchback Models of All-Time
Chopard Classique Homme Women's Watch
The Five Best Chopard Watches for Women
Chopard LUC Chrono One Flyback
The Five Best Chopard Chronometer Watches Money Can Buy
Cartier Seatimre
The History of the Cartier Pasha Seatimer
Cartier roadster chronograph
A Buyer’s Guide for the Cartier Roadster Chronograph
Keke Palmer
How Keke Palmer Achieved a Net Worth of $7.5 Million
Sara Jean Underwood
How Sara Jean Underwood Achieved a Net Worth of $5 Million
G Herbo
How G Herbo Achieved a Net Worth of $2.5 Million
Young Dolph
How Young Dolph Achieved a Net Worth of $3 Million