KHWAJA MOINUDDIN CHISHTI LANGUAGE

UNIVERSITY, LUCKNOW,
2023-24
Department of Masters of business Administration

LENSKART ‘S.W.O.T ANALYSIS,

ORGANISING’

SUBMITTED TO: SUBMITED BY:

Prof.(Dr.) Syed Hadier Ali MUSAIB TAHIR

Head of Department MBA 1st sem

KMCLU, Lucknow
 Introduction
Lenskart is a well-known and leading eyewear brand and online retailer that specializes in
eyeglasses, sunglasses, contact lenses, and related accessories. Founded in 2010 by Peyush
Bansal, Amit Chaudhary, and Sumeet Kapur, Lenskart has grown to become one of India's most
prominent and trusted eyewear companies. The company's mission is to provide high-quality
eyewear products that are affordable and accessible to a wide range of customers.
Lenskart offers a wide variety of eyewear products, including prescription eyeglasses, stylish
sunglasses, contact lenses, and eyeglass frames. They cater to both prescription and non-
prescription eyewear needs, making it a one-stop-shop for individuals seeking vision correction
or fashionable eyewear. Lenskart prides itself on offering a vast selection of designs and brands,
ensuring that customers can find eyewear that matches their personal style and preferences.
One of Lenskart's distinctive features is its innovative and customer-centric approach to
shopping for eyewear. They offer a unique "try at home" service, where customers can order a
selection of frames to try on in the comfort of their homes before making a purchase.
Additionally, Lenskart uses cutting-edge technology to provide a virtual try-on feature, enabling
customers to see how different eyeglasses will look on their face through their website or
mobile app.
Lenskart has also expanded its reach through a network of brick-and-mortar stores across
India, allowing customers to have a hands-on experience with the products and receive
professional assistance in finding the perfect eyewear.
The brand has gained recognition for its commitment to quality, affordability, and customer
satisfaction. With a strong online presence and physical stores, Lenskart has become a go-to
destination for eyewear solutions in India and is making its mark internationally as well. It
continues to innovate and set new standards in the eyewear industry, making eyeglasses and
sunglasses more accessible and enjoyable for customers.
 History
Lenskart is an Indian eyewear brand and online retailer that has grown rapidly since its inception
in 2010. Here's a brief history of Lenskart:

1. Founding: Lenskart was founded in 2010 by Peyush Bansal, Amit Chaudhary, and Sumeet
Kapur. The founders recognized a need for a convenient and cost-effective way for people to
purchase eyeglasses and other eyewear products.

2. Initial Focus: In its early years, Lenskart primarily focused on offering a wide range of
eyeglasses, including prescription and non-prescription glasses. The company aimed to make
eyewear more affordable and accessible to a broad customer base.

3. Online Expansion: Lenskart embraced the e-commerce model and quickly established an
online presence. They developed a user-friendly website and mobile app that allowed
customers to browse, select, and purchase eyewear from the comfort of their homes.

4. Innovations: Lenskart introduced several innovative features that set it apart from traditional
eyewear retailers. One such feature was the virtual try-on, which enabled customers to see
how glasses would look on their face through a virtual mirror on the website.

5. Home Try-On Service: Lenskart pioneered the "Home Try-On" service, allowing customers
to order a selection of eyeglass frames to be delivered to their homes. This feature made it
easier for customers to choose frames that suited their style and face shape.

6. Retail Expansion: While Lenskart started as an online retailer, it also expanded its presence
to brick-and-mortar stores. The company opened a network of retail stores across India, where
customers could receive in-person assistance and experience the products before making a
purchase.

7. Product Diversification: Over the years, Lenskart diversified its product offerings. In addition
to eyeglasses, they began offering sunglasses, contact lenses, and eyewear accessories. They
also introduced their private label brands for eyeglass frames and lenses.
8. International Expansion: Lenskart has not only established itself as a prominent eyewear
brand in India but has also expanded its reach internationally, catering to a global customer
base.

9. Partnerships and Acquisitions: Lenskart has formed partnerships and made acquisitions to
further its growth and offerings in the eyewear industry. For example, they acquired John Jacobs,
a premium eyewear brand, to enhance their product range.

10. Growth and Recognition: Lenskart's commitment to quality, innovation, affordability, and
customer satisfaction has led to substantial growth and recognition. It has become a trusted
brand in the eyewear industry and continues to set new standards in the market.

Lenskart's history is marked by its commitment to making eyeglasses and sunglasses more
accessible, convenient, and stylish for customers in India and beyond. The company's
emphasis on technology and customer-centric services has contributed to its success and
growth.
 SWOT Analysis

Strengths:
1. Strong Online Presence: Lenskart has a robust online platform, making it one of the leading
e-commerce companies in the eyewear industry.

2. Innovative Technology: The company has introduced innovative features like virtual try-on
and the "Home Try-On" service, which enhance the customer shopping experience.

3. Omnichannel Strategy: Lenskart has both an online and offline presence, allowing
customers to choose their preferred shopping method.

4. Diverse Product Range: Lenskart offers a wide variety of eyewear products, including
prescription eyeglasses, sunglasses, contact lenses, and eyewear accessories.

5. Private Label Brands: The company's private label brands offer customers affordable yet
stylish eyewear options.

6. Quality and Customer Service: Lenskart places a strong emphasis on product quality and
offers customer support through its in-house team of optometrists.

**Weaknesses:**

1. Competition: The eyewear industry is highly competitive, with both online and offline players
vying for market share.

2. Dependence on Suppliers: Lenskart relies on suppliers for its products, and supply chain
disruptions can impact operations.

3. Changing Fashion Trends: The eyewear industry is influenced by fashion trends, which can
lead to the need for frequent updates in product offerings.
**Opportunities:**

1. International Expansion: Lenskart has the opportunity to expand its reach beyond India and
tap into international markets.

2. Product Diversification: Expanding into related products or services, such as eye care
products and solutions, could be a growth opportunity.

3. Market Growth: The eyewear market continues to grow as the need for vision correction and
fashion eyewear increases, providing a larger customer base.

4. Digital Marketing: Leveraging digital marketing and data analytics can help target customers
more effectively and enhance the online shopping experience.

**Threats:**

1. Market Saturation: The eyewear industry is becoming saturated, making it challenging to

stand out and gain market share.

2. Economic Downturn: Economic fluctuations can affect consumer spending on non-

essential items like eyewear.

3. Online Security and Privacy: Concerns about online security and data privacy can impact
consumer trust and online sales.

4. Regulations and Compliance: Changes in regulations related to eyewear, healthcare, or e-

commerce can pose challenges.
 Lenskart's business model

1. E-commerce Platform: Lenskart's core business model revolves around its e-commerce
platform, which allows customers to browse, select, and purchase eyeglasses, sunglasses,
contact lenses, and related eyewear products online. Customers can use the website or mobile
app to explore a wide range of eyewear options.

2. Online Eye Checkup: Lenskart introduced a unique feature known as "Lenskart Blu," which
allowed customers to take a virtual eye test from the comfort of their homes using their
smartphones. This innovation aimed to make the eyewear shopping experience more
convenient.

3. Home Trial Service: Lenskart offered a "Home Trial" service where customers could select
a few frames online, have them delivered to their homes, and try them on. This feature allowed
customers to make more informed decisions about the fit and style of their eyewear.

4. Offline Retail Stores: Lenskart also expanded its presence in the offline retail space by
opening physical stores across India. Customers could visit these stores for eye examinations,
try on frames, and get assistance from in-store optometrists. The brick-and-mortar stores
complemented the online sales channel and provided a more comprehensive customer
experience.

5. Customization and Prescription Eyewear: Lenskart offered prescription eyeglasses,

allowing customers to provide their prescriptions to ensure accurate vision correction.
Customers could also customize their eyeglasses by choosing frame styles, materials, and lens
options.

6. Eyewear Brands and Private Labels: Lenskart sold a variety of eyewear brands, both
popular and exclusive to Lenskart. They also had their own private label products, which
allowed them to offer a range of price points and styles.

7. Innovation in Eyewear: Lenskart was known for its innovation in eyewear. They introduced
features such as blue-light blocking lenses, anti-glare coatings, and other advanced lens
technologies.
8. Customer-Centric Approach: Lenskart focused on delivering a customer-centric
experience, offering features like a 3D Try-On tool for virtual frame fitting and a 14-day return
policy to ensure customer satisfaction.

9. Marketing and Promotions: Lenskart engaged in various marketing and promotional

activities to attract and retain customers. They often offered discounts, promotions, and referral
programs to incentivize purchases.

10. Supply Chain and Logistics: To ensure the timely delivery of products, Lenskart maintained
an efficient supply chain and logistics system, including warehouses and delivery services.
 Lenskart, organizational roles

1. Founder/CEO: The founder or CEO (Chief Executive Officer) is typically the visionary leader
responsible for the overall direction and strategy of the company. In the case of Lenskart,
Peyush Bansal was one of the co-founders and served as the CEO as of my last knowledge
update.

2. COO (Chief Operating Officer): The COO is in charge of the day-to-day operations of the
company, including supply chain management, logistics, and the smooth functioning of retail
stores.

3. CTO (Chief Technology Officer): The CTO is responsible for overseeing the company's
technology infrastructure, including the website, mobile app, and any tech-related innovations.

4. CMO (Chief Marketing Officer): The CMO handles marketing and advertising efforts, including
promotional campaigns, social media presence, and brand awareness.

5. CFO (Chief Financial Officer): The CFO manages the company's financial operations,
including budgeting, financial reporting, and strategic financial planning.

6. VP of Retail Operations: This role oversees Lenskart's physical retail stores, if applicable, and
ensures their efficient operation.

7. VP of E-commerce: This individual manages the company's online sales platform, ensuring a
smooth and user-friendly online shopping experience.

8. Supply Chain and Logistics Manager: This role is responsible for managing the supply chain,
from sourcing products to delivering them to customers' doorsteps efficiently.

9. Customer Service Manager: The customer service manager oversees the team that assists
customers with inquiries, orders, returns, and other concerns.
10. HR (Human Resources) Manager: The HR manager handles personnel matters, including
recruitment, training, and employee relations.

11. Product Manager: Product managers are responsible for curating and developing the range
of eyewear products offered by Lenskart.

12. Data Analysts and Researchers: These individuals collect and analyze data to make
informed decisions regarding product offerings, marketing strategies, and customer
experiences.

13. Retail Sales Associates: In physical retail stores, sales associates help customers with
frame selection, measurements, and other in-store services.

14. Software Engineers: They work on developing and maintaining the company's digital
platforms, including the website and mobile app.

15. Optometrists: If Lenskart has in-store eye testing facilities, optometrists are responsible for
conducting eye tests and helping customers find the right prescription eyeglasses.

16. Marketing and Advertising Teams: These teams work on promoting Lenskart's products
through various marketing channels.

17. Warehouse and Fulfillment Staff: These employees handle inventory management and the
packing and shipping of orders.

18. Legal and Compliance Team: They ensure the company operates within legal boundaries
and manages any legal matters that may arise.

Please note that the exact organizational structure and roles within Lenskart may have evolved
or changed since my last knowledge update in January 2022, so it's advisable to consult their
official website or contact their HR department for the most up-to-date information on their
organizational roles.
 Conclusion
Lenskart is an Indian-based eyewear retailer that primarily operates online but also has a
presence in physical retail stores. As of my last knowledge update in January 2022, Lenskart
has established itself as a prominent player in the eyewear industry in India and has gained
recognition for its innovative approach to selling eyewear. Here's a summary of Lenskart based
on the information available up to that time:

Key Points:

1. Wide Product Range: Lenskart offers a wide range of eyewear products, including eyeglasses,
sunglasses, contact lenses, and related accessories.

2. Online and Offline Presence: The company operates both through its e-commerce platform
and physical retail stores, providing customers with the flexibility to shop as per their
preferences.

3. Innovative Services: Lenskart has introduced innovative services such as home trials, virtual
try-on, and eye testing in physical stores to enhance the customer experience.

4. Prescription Eyewear: Customers can order prescription eyewear through Lenskart by

uploading their prescription, and the company verifies the prescription for accuracy.

5. Customer-Centric Approach: Lenskart places a strong emphasis on providing a positive

customer experience with features like user reviews, responsive customer service, and a return
and exchange policy.

6. Digital Presence: The company has a robust online presence, offering a user-friendly website
and mobile app for convenient shopping.

7. Marketing and Promotions: Lenskart frequently runs marketing campaigns and offers
promotions, making eyewear more affordable and appealing to customers.
8. Organizational Structure: Lenskart, like any large retail company, organizes its operations into
various roles, including top executives, marketing, technology, supply chain, and retail
operations.

It's important to note that the specifics of Lenskart's operations, offerings, and customer
experience may have evolved or changed since my last update in January 2022. Therefore, for
the most current information about Lenskart's services, customer reviews, and offerings, it's
advisable to visit their official website or consult the latest customer feedback and news.