Peyush Bansal is the co-founder of Lenskart and is also a judge on the show Shark Tank India. Peyush mentioned in an episode how he also did other businesses before he realized Lenskart is what he is actually passionate about. So, we decided to look at other companies Peyush Bansal started before Lenskart.
Peyush Bansal worked as a Program Manager at Microsoft before he started his own venture.
When Peyush Bansal came back to India after working at Microsoft for 11 months, he didn’t have a business plan. He wanted to be his own boss and had a vague idea that the business would be centered on e-commerce.
Peyush Bansal started SearchMyCampus.com in December 2007 with ₹25,00,000 from the basement of his parent’s house. It was an online portal that helped college students to easily solve common issues faced by them like jobs, housing, coaching, books, transportation, etc. He worked on SearchMyCampus for 2 years.
Peyush Bansal started Flyrr in June 2009. It was an online store that sold spectacles, sunglasses and contact lenses. The same idea as Lenskart but concentrated on the US market. Peyush faced some problems, which made him realise that in order to run a business smoothly, both operations and delivery had to be controlled by him and his team.
He decided to replicate the same model in India, and hence Lenskart was born in November 2010.
We want to be the American Express of the eyewear space. They might not be number one but they are better than anyone else.
With Lenskart on track, Peyush Bansal launched another niche venture in May 2011 called Watchkart. Watchkart sold branded watches and catered to a lot of brands like Emporio Armani, Tommy Hilfiger, Fossil, etc.
In Auguest 2011, Peyush Bansal launched Bagskart. Bagskart was another of Peyush Bansal’s niche portals under Valyoo Technologies. BagsKart sold different varieties of handbags.
With three niche verticals, Lenskart, Watchkart, and Bagskart, already in place, Peyush Bansal started another vertical, Jewelskart. As the name would suggest, JewelsKart sold jewellery of different kinds.
With a growth of 200%, Lenskart was performing better than all its sister verticals by 2014. Because of low traction and financial losses, Peyush Bansal shut down Watchkart, Bagskart, and Jewelskart in 2015. This helped him focus on Lenskart better and make it the brand it is today.
As Peyush Bansal mentioned on Shark Tank India, he did many things before he found out one venture that he truly believed in – Lenskart. Peyush Bansal’s story is an inspiration for budding entrepreneurs that you rarely hit the jackpot in the very first go.
All these karts finally took Peyush Bansal to the right destination!
Also Read | Another Reason To Love Peyush Bansal – His Company Gives Free Eye Care To Underprivileged Kids