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Case Study Presentation: Lenskart. Entrepreneurship & Innovation.
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The Problem it Solves. Lenskart was founded in 2010 by Peyush Bansal to tackle the issue of limited access to affordable and stylish eyewear in India. Many customers, especially in smaller towns, lacked access to quality spectacles or lenses. Lenskart solved this by offering a wide range of eyewear through an online platform, providing home eye-checkups and virtual try-on services, making eyewear more convenient and affordable..
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Type of Innovation (Product & Process). Lenskart’s innovation lies in both product and process: - Product Innovation: Introduced the ‘3D Try-On’ feature using augmented reality for virtual frame trials. - Process Innovation: Implemented a hybrid online-offline retail model, automated lens manufacturing, and AI-based recommendations to enhance accuracy and customer experience..
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Entrepreneurial Mindset of the Founder. Founder Peyush Bansal showed strong vision, persistence, and customer-focused thinking. He identified an underserved market need and took calculated risks by blending technology with retail. His entrepreneurial mindset emphasizes adaptability, innovation, and social responsibility — making eyewear accessible and improving customer experience continuously..
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Conclusion. Lenskart’s success story illustrates the power of innovation, risk-taking, and resilience in entrepreneurship. By identifying a real-world problem and creatively using technology, Peyush Bansal transformed the eyewear industry in India. This case highlights how innovative thinking can drive large-scale business success and social impact..