Peyush Bansal is an Indian businessman. He is the co-founder and chief executive officer (CEO) of Lenskart, an Indian retail chain of optical prescription eyewear.
Wiki / Bio
Peyush Bansal was born on Friday April 26, 1985 (age 37 years; from 2022) in New Delhi. His zodiac sign is Taurus. He attended Don Bosco School, Delhi, and then obtained a Bachelor of Electrical Engineering (2002-2006) from McGill University, Montreal, Canada. Thereafter, he enrolled at the Indian Institute of Management (IIM), Bangalore, to follow the Management Program for Family Entrepreneurs and Businesses (MPEFB) (2008-2009).
Height (approx.): 5 ′ 7 ″
Hair color: Black
Eye color: Black
Fathers and brothers
Peyush’s mother’s name is Kiran Bansal. Not much is known about his father. He has an older brother.
Peyush Bansal is married to Nimisha Bansal.
Peyush began his career in 2007 as a Program Manager at Microsoft, Redmond, Washington. At Microsoft, his job was to come up with ideas that could improve the customer experience. The job didn’t interest him much, and he decided to quit after working there for about a year. Subsequently, Peyush returned to India and began looking for startup ideas. In 2007, he launched SearchMyCampus, a campus classifieds portal. The portal provided various services to college students, including accommodation, internships, transportation, books, and part-time jobs. The project was quite successful. Meanwhile, he obtained an Entrepreneurship Management Diploma from IIM Bangalore. Then he launched a couple of startups that did very well. In 2010, he founded Lenskart together with Amit Chaudhary and Sumeet Kapahi.
Initially, the company sold only contact lenses and slowly expanded its operations and also began marketing eyeglasses and sunglasses.
Subsequently, he co-founded eyewear startups such as John Jacobs (2015), Aqualens (2019), Lenskart Plus (2020), and Lenskart Vision Fund (2020). All of these were funded by Lenskart. In 2019, Lenskart entered the unicorn club with a valuation of $ 1.5 billion; a unicorn is a new private company valued at more than a billion dollars. Despite starting as an online company, Lenskart has around 600 retail stores and around 4,000 employees spread across the country (as of 2022).
In 2021, Peyush appeared as a member of the jury on ‘Shark Tank India’, the Indian adaptation of the American business reality show ‘Shark Tank’.
In January 2022, Peyush generated controversy for his comments about the CPA community during an episode of the Indian reality show ‘Shark Tank India’. Reportedly, while finalizing an investment deal with PNT’s robotics founders on the show, Peyush made the comments,
The council hai, CA took a long time. “
His comments offended the CA community, after which ‘Say no to Lenskart’ became a popular trend on social media (especially among CAs). People also started a petition against Bansal on Change.Org, calling for his removal from Shark Tank India. The petition says,
No one can make fun of the professionals on National Television just for looking great! Those people with loose conversations should correct their generic comments for CA / get kicked out of Shark Tank India. “
Later, Peyush issued a letter of apology saying that he made the comments in a funny way. He wrote,
My choice of words and the way it came out was wrong. My intention was not what was on the show. It was a lighthearted comment made as a joke, which has been completely taken out of context. ”
Facts / Curiosities
- Peyush loves watching movies and traveling in her spare time.
- His role model is Bill Gates.
- In 2017, Bollywood actress Katrina Kaif was named a brand ambassador for Peyush’s Lenskart company.
- In an interview, when asked about his idea of success, Peyush said:
It’s about always breaking your own standards and bringing an element of joy into the lives of your customers and employees. “
- During an interview, Peyush was asked about the idea behind starting Lenskart. He said,
I wanted to do something on the Internet. My first company (Searchmycampus), which focused on college students, wasn’t just about e-commerce. It was primarily about connecting college students with someone who can serve them, much like classified ads. The only thing we weren’t doing was making a transaction on the internet. Ads on the website generated income for us. We also build websites for universities and those who owned hostels. But the model that worked mainly was the sale of tracks to educational institutes and PG. Classifieds, as a model, was not generating money and was not scalable. We wanted to do something that would scale quickly. That’s when we changed gears and came up with the idea for LensKart. We launched LensKart.com with the help of some funds. This left us with huge goals. Little by little, we realized that it was not possible to keep Searchmycampus.com alive as we would not have been able to serve customers. Then we closed Searchmycampus.com in 2010 because we didn’t have the time or energy to look for someone to sell it. “
- In an interview, while talking about his Lenskart trip, Peyush said:
Lenskart.com is India’s largest online retailer of fashionable and stylish eyeglasses, sunglasses and contact lenses. Launched in 2010, Lenskart.com today firmly established its position as the nation’s leading eyewear portal. In the last three years, the company has experienced remarkable growth with a 300% increase in its turnover and a workforce of 150 employees that currently stands at 150. Lenskart.com offers more than 5000 frames and stylish glasses and more than 45 kinds of high quality, scratch resistant and unbreakable brand contact lenses. Offers one of the largest selections of fashion and prescription eyewear from all of the world’s leading manufacturers including Ray-Ban, Oakley, Tag Heuer, Fastrack, Sprint, Vintage, Johnson & Johnson, Ciba Vision, Bausch + Lomb, CooperVision. , etc. As of now, it has been funded by two venture capitalists, namely IDG Ventures and Ronnie Screwvala-led Unilazer Ventures. “
He further added,
Already delivering to over 450 cities in India, the website offers unmatched services such as online eyewear selection help, strict quality controls, personalized services, fast deliveries, one year product warranty, policy 14-day return with no questions asked. , convenient payment options and unbeatable prices. The fact that there are no intermediaries involved means that the company can pass the benefit of reduced costs to customers in the form of almost 70% lower prices. Lenskart.com frames are made on some of the best production lines in the world and are inspected three times before they are delivered. “