When Ratan Tata invested a small amount of money in a start-up in 2016, he did not even think that it would be a venture that would grow five times faster than the giants of Tata. Let's take a look at how Lenskart has grown into a company that started three years late than Tata's giant brand Titan i Plus and today has five times the revenue of Titan i Plus. Lenskart has achieved this success by finding solutions to four major problems in the eyewear market. Before that, you need to know what the market is. Until 2010, the market was unorganized. If people wanted glasses, they had to buy them from the nearest shop. The Indian market had not even started thinking about blindfolding as a brand. Even today there is not much difference in this situation that 70% of the spectacles market is occupied by these unorganized shops.

The funniest story behind the lenscar's is not that Piiesh Bansal is not a blind or a blindfold market. He was working as an electrical engineer as a electrical engineer. The reign of Peush was a meeting meeting meeting with Microsoft founder Bill Gayitis. Bill Gates shared some of his ideas and shared the thoughts of the world. After this, the Piush arrived to the thought of what he has to do something on his own. With this, he returned to India and started a small venture at home and launches a small venture at home. The search was the site called my campus.com. It was a site containing a college student student. A site containing accommodations near colleges in colleges. This was a success. However, Puji learned that it is not possible to create a change in society. That is how he begins Flyer Dot coming to say the flyer is one of the first step in the lenscar. But this was something that was built for the US market. The Flare was the way to bring product to their dealers and deliver them to customers. Although this was a success, Piqesh was not large. During this time, his fellow foundal Amit

But today after almost 14 years, 30% of the Indian eyewear market and 25% of the organized market is with Lenskart. Today, Lenskart is a Rs 3,000 crore company. Today, Lenskart has five times the market share and profits of Titan Eyewear. That being said, Lenskart is more profitable than not only Titan Plus but the entire Titan Eyewear company. This includes the Titan Eye Plus, Fast Track, and Titan Glass. Tata's iCare division grew 33% year-on-year, while LensCare grew 100% year-on-year. That's how Piyush came up with the lens cart to become the maruti of the Indian eyewear market. Now let's hear about the 4 big problems in the Indian eyewear market that Titan Eye Plus could not solve.

The first of these was the issue of Asesibility. India is known as the Blind Capital in the world. India lives 40% of people with vision problem in the world. In the other way, the market goal was to be aimed at the lenschar. Moreover, they are competing or titan into the usual and eyelid shops on Indian streets. The first problem of the problem is to be the distribution of distribution or ascibility. That is why they start the first D2C model in India, which is incorporated online and offline. Indian consumers have a specialty of them and understand it to see them see the goods they purchase. If you want to make an expressive expressions, it is necessary to create an expressive expressions, it requires capital. To do this, Lenschart brought a large number of investers since the first time. Ratan Tata IFC Azim Premji Roni Screwwala, the world's largest technological concessence, the world's largest technological concession fund invested in the Lens Kar. This is what they could reach the markets in the first tire. Later it is expanded to tires. Today Lens Cart has 2000 stores in 2000 stores. The Titan I Plus 200 sits have only 1000 stores. Lens Cart Stores were the kind of that India was not seen to date. Stores with straws with straws with difficulty with high vibrant technology

Now let's see what the second problem solved is fixed. It was the price to be able to afford the glasses. There was a dream that Piush should be great as big. For this purpose, a percentage of premium assumed to satisfy the premium customers in India. Instead, they were targeted by Indian Customers. For this purpose, the price of the eyeglasses has made the common man in a momentous manner, and implemented the oced-based pricing. Although their product is worth it is one of its products affordable, they noticed a premium expressions for Customers to Stores and Website. Tamowns, such as glasses from 50% to glasses in 50% offer, were attracted by the Average. They were given up to the first frame free at the beginning. Lenses are not always the zone frame that can always make a penny in the eyeglasses. That is where the lens Kart moved the customers to stores and buy expensive lenses through a very attractive cheap frays. They also presented the offers like Gold membership to ensure Customers buy multiple lens. If you purchase a frame, the offers of the free is attracted to anyone. This is the one who received some customers. Premium Experience, but to buy affordable eyeglasses, to buy affordable waste glasses. The premium expressions in Lens Cart Stores Creating Frames

Now the third big problem that lens cart has solved is that of awareness. Most companies succeed in creating a hype but it's difficult for a brand to build fans and followers. Creating a start-up brand is very difficult. Vincent Chase John Jacobs are all in-house brands of Lenskart. All of these brands generate more revenue than the combined revenues of most start-ups today. This is one of Tata's most famous cars. That is, make different brands of different values and market them differently. Take Westside and Sudio, for example, two companies that exist in the same market for the same product of a different value, but both are Tata's own inhouse brands. They are marketed in two ways.

Lenskart has invested a huge amount of money in advertising for this. They marketed eyeglasses as a fashion element rather than a necessity. This enabled Lenskart to bring customers to the idea that just one eyeglass is not enough. That wasn't even possible. Today Lenskart has a collection of more than 5000 Variety Frames. That's their USB. The whole purpose of this was to ensure multiple sales from a single customer. Realizing that it is not enough to use small stars for this, big stars were used for advertising. Karan Johar, the current brand ambassador, was a big attraction. Despite all this, it was in the Shark Tank that Lenskart was given a very familiar name. Piyush himself became a brand when customers started coming looking for the frames he wore at Shark Tank. The advertisement of Karan Johar and Piyush together was very successful. This made it possible for Leniskirt to become a familiar, easily accessible and reliable brand.

The fourth major problem solved by Lenskart was that of unit economics.For a large enterprise like Lenskart, managing the supply chain and stores is a challenge.But Lenskart solved it very well.The next time you walk into a Lenskart showroom, you will notice that it is a company that uses AI technology very well.Lenskart not only uses barcodes for inventory tracking but also with AI technology.They track everything from stocks in stores, inventory transits, sales, Tata product performance to current trends.For example, if a frame is selling very well, the system is automatically set up to ensure the stock for it and if a frame is not selling much, the stock for it can be reduced.It focuses on trends in the way frames are stacked in stores, which helps to attract customers to the store.Recently, there was news that Lenskart Factories is going to start the world's largest automated eyewear manufacturing unit.With the acquisition of Japan's OnDays with d2c, Lenskart is now a global brand with over 500 stores outside India.

In short, the biggest difference between Titan Eye Plus and Lenskart is their marketing strategies. The idea behind all this is the big enterprise that Piyush Bansal saw.