Marketing Management

HISTORY
Founded in 2010 by an ex-Microsoft 'techie' with no money but truckloads of relentless
passion to make a difference in this world, Lenskart is India's fastest growing eyewear
business today. 1/3rd of our population needs glasses but doesn't have access to them,
making us the blind capital of the world with over 15 million blind people.

With the cause in mind, Peyush along with his two co-founders, Amit Chaudhary, and
Sumeet Kapahi, founded 'Valyoo Technologies'.

The aim was to truly add 'valyoo' to customers' lives by eliminating the retailers, setting up
our own high-quality manufacturing, and supplying directly to the consumer everywhere in
India. This not only cuts costs but also helps us maintain high-quality standards. Our in-
house robotic lens manufacturing and assembly ensure 100% precision and top-quality
control. Lenskart is an e-commerce platform which specialises in eyewear accessories. The
platform operates in both online and offline distribution modes, offering its customers the
liberty to purchase products either online or through their exclusive offline stores. The
company facilitates a range of services such as home eye checkups. Lenskart earned the
unicorn company status towards the end of 2019. With a market size of Rs. 18000-20000
crore, organized players account for barely 9-10% of the market.
Marketing Mix
Product: Lenskart through its online and offline stores sells customized made to order
spectacles, contact lenses and sunglasses as a part of its marketing mix strategy for men
and women of all age bracketsLenskart offers a one year warranty on its products and offers
glasses in three types- small, medium and large. Lenskart captures this sentiment by
positioning glasses as a statement fashion piece more than as an item that customers need
for their daily usage. Lenskart also sells other accessories related to eye wear and care like
spray solutions, contact lenses solutions, wiping clothes, lenses case, eye wear stands and
so on.
Price: . To meet the demands of all existing income brackets in the market who are willing to
afford the purchase of eye wear online or through physical stores, Lenskart offers value
based pricing, in which products are priced depending on the value they offer to the
customers. Products are available in value, or premium segment depending upon what is the
requirement of the user looking for the product. Since a lot of marginal costs in the supply
chain get surpassed when the store delivers to the customers directly, a number of costs are
cut down leading to a reduction in the prices of spectacles by as much as 50%. Lenskart
also offers a no questions asked return policy, yet it has the lowest return rates in the
industry accounting to about 4%.

Promotion: To keep the brand alive in the minds of the consumer, Lenskart
extensively promotes itself through Social media and offers 24x7 helpline service to
meet the best customer service requirements. Lenskart also engages in email
marketing like the initiative that they took up in collaboration with netCore which
specialises in email based marketing. They have a range of schemes which make
them extremely popular with the users. Some of them are:

 First frame free for the customers. Only payment for lenses of the first
frame
 Exchange option for an old frame
 Try at home option for customers by ordering maximum 5 frames at
home, trying them and selecting
 Virtual try on through a try on a model’s picture
 Home eye check-up facility
 Doctor locator to find nearest ophthalmologist.

TV commercials and print ads have also helped Lenskart grow.

Place: Lenskart, being an online brand, can be accessed everywhere.

Predominantly, an online store, over the past few years as part of its expansion
policy in India, it has expanded itself to a number of cities across the Indian
subcontinent. The company through its online portal, delivers to more than 450 cities
across India. They have partnered with a number of third party vendors who are
involved in rolling out deliveries across locations for the Lenskart brand. These
partners include BluDart, Javas and Delhivery to name a few.
Through the offline medium, they have expanded their reach by setting up stores in more
than 66 cities across India including tier I and tier II cities like Agartala, Tirupathi, Siliguri,
Raipur, Haridwar and Varanasi.

Product and Services offered

USP
What is the unique selling proposition of Lenskart?
In the case of Lenskart, the company's USP has been to “provide the highest
quality spectacles at the best possible price.” That Lenskart is on a winning track
is borne out by market figures. Nearly half the population (530 million Indians) need
vision correction. But only 170 million have them.

Its business model is what makes the company different from others, as it
bridges the gap between different touchpoints, i.e. it gives the customer an
Omni Channel Experience where a customer can order either from the store or
from an online medium. Lenskart app is the No.1 shopping app for eyewear
as it has the widest collection of specs, sunglasses, goggles, frames, anti-
glare, contact lenses, reading glasses, computer glasses, try glasses at home,
prescription sunglasses, and eye accessories.
Price Range

Classic Sunglasses

Starting From ₹ 1299

Premium Sunglasses

Starting From ₹ 2500

CLASSIC EYEGLASSESStarting From  ₹1000

PREMIUM EYEGLASSESStarting From  ₹3200

COMPUTER EYEGLASSESStarting From  ₹599

Blu 0 Computer GlassesStarting From  ₹599

PREMIUM RANGEStarting From  ₹3200

Men

Women

Classic Sunglasses
Starting From ₹ 1000
Premium Sunglasses
Starting From ₹ 2500
CLASSIC EYEGLASSESStarting From  ₹1000
PREMIUM EYEGLASSESStarting From  ₹3200

COMPUTER EYEGLASSESStarting From  ₹599

Kids

Kids Glasses
Starting From ₹799
CLASSIC EYEGLASSESStarting From  ₹1000

Pricing Method

Distribution channel
No middleman simply means no middle ground. Our products come straight
from the manufacturer, hence getting rid of all extra costs and burden. All our
designer glasses are like freshly baked bread served at attractive prices.