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ETSA 2024 | For startups, right talent is human capital, not just human resource: Lenskart CEO Peyush Bansal
Economic Times
·
9m ago
Medial
- Talent density has become increasingly challenging to maintain in the last 10 years, according to Peyush Bansal, CEO of Lenskart. - To hire and retain talent, companies must constantly improve and up their game, says Peyush Bansal. - Building the right work culture and attracting top talent are crucial for startup growth, according to Peyush Bansal. - Taking Indian startups to the global stage requires a focus on talent and surpassing milestones, states Peyush Bansal. - The panel discussion at the Economic Times Startup Awards 2024 emphasized the importance of staying ahead of trends in order to succeed in the next decade of Indian startups.
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Related News
Focus on bringing in good partners, not maximizing valuations: Lenskart’s Peyush Bansal | Company Business News
Livemint
·
7m ago
Medial
Lenskart co-founder and CEO, Peyush Bansal, advised startup founders to prioritize finding the right partners and investors over chasing high valuations. He emphasized the importance of partners who share the company's vision and are willing to support them through both good and bad times. Bansal believes that valuations are short-term and that long-term success comes from creating value and driving transformation. He also praised India's engineering talent and manufacturing capabilities, stating that the country has the potential to solve global environmental problems. Lenskart aims to go public in the next two years after reducing its losses significantly.
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Start-Ups Should Focus on Omni Customers, Says Lenskart Founder Peyush Bansal
OutlookIndia
·
3m ago
Medial
Lenskart founder Peyush Bansal emphasizes the importance of focusing on "omni customers" rather than just an omnichannel approach. He advises startups to prioritize customer retention through effective product service and after-sales support. Bansal suggests this shift will reduce customer acquisition costs and enhance omnichannel strategies. Speaking at a Startup Mahakumbh event, he also highlighted opportunities for innovation in India’s medical sector, leveraging AI and manufacturing capabilities to address global challenges.
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Businesses need to be built around a purpose and mission: Lenskart CEO Peyush Bansal
Economic Times
·
4m ago
Medial
Lenskart, led by CEO Peyush Bansal, has excelled in the competitive eyewear market by prioritizing purpose and mission. The company has grown to over 2,500 stores in India and Southeast Asia while maintaining operational efficiency. The key turning point was its $400 million acquisition of Japan's Own-days in 2022, boosting its international presence. With a revenue of Rs 5,500 crore in 2024, Lenskart is eyeing a public offering at a $10 billion valuation.
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Lenskart plans to set up ‘mega factory’ near Bengaluru airport; seeks 25 acres of land
Business Today
·
1y ago
Medial
Eyewear company Lenskart is searching for a large land parcel near Bengaluru airport to build its upcoming 'mega factory'. CEO Peyush Bansal announced the company's need for 25 acres of land and received a swift response from the Karnataka government, assuring their support. Lenskart is also reportedly preparing for an initial public offering, according to SoftBank Vision Fund CFO Navneet Govil. The company, founded in 2008, specializes in eyewear and aims to serve 1 billion eyes globally by 2025.
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'Lenskart seeking factory land in B'luru,' says Peyush Bansal, K'taka minister replies
Inshorts
·
1y ago
Medial
Lenskart Co-founder and CEO Peyush Bansal said the company is looking for 25-acre land within 60km of Bengaluru airport to build its next mega factory. Responding to his LinkedIn post, the state's Minister for Commerce & Industries MB Patil said, "Karnataka is the place to be! Industries Department is here to support...and facilitate...your needs. Concerned officials will reach out, immediately."
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Lenskart’s Peyush Bansal charts global expansion amid IPO buzz
Economic Times
·
4m ago
Medial
Peyush Bansal founded Lenskart in 2010, aiming to make it a global brand focused on scale and customer experience. The company considers an IPO while prioritizing consistent service. With over $1 billion in annual revenue, Lenskart emphasizes technology and efficiency for profitability. Expansion includes a new Telangana facility, enhancing manufacturing capacity. Lenskart continues refining its omni-channel strategy and in-store experiences, inspired by global standards, while fostering new leadership for sustained growth.
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Unikon.ai Bags $2 Mn To Scale Up Its AI Social Media Platform
Inc42
·
1y ago
Medial
A funding round was completed for Unikon.ai, a social media and networking platform that uses AI to provide personalized content and one-on-one conversations. Investors included Nikhil Kamath from Zerodha, Peyush Bansal from Lenskart, Vishesh Khurana from Shiprocket, and Dholakia Ventures. This news follows the recent launch of Wolfpack Labs, a venture studio led by Aakash Anand, the cofounder of Bella Vita, with a fund of INR 50 crore to support early-stage startups.
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Fidelity marks up IPO-bound Lenskart's valuation to $6.1 Bn
Entrackr
·
1m ago
Medial
Fidelity marks up IPO-bound Lenskart's valuation to $6.1 Bn The development comes as Lenskart prepares for its initial public offering (IPO), with plans to raise $1 billion at a targeted valuation of $10 billion. Fidelity has revised the valuation of omnichannel eyewear retailer Lenskart to $6.1 billion, as per its latest monthly portfolio holdings update. In November, Fidelity valued the Peyush Bansal-led company at $5.6 billion. In June 2024, Lenskart raised $200 million via a secondary round, followed by a $20 million investment led by Bansal. As of now, the company has secured nearly $1 billion and reached a valuation of $5 billion during the secondary deal in which Fidelity also participated. Just last week, the company converted its holding entity from a private limited to a public limited company, a move exclusively reported by Entrackr. Media reports also suggested that Lenskart is set to file its draft red herring prospectus (DRHP) confidentially with the markets regulator by the end of this month. Lenskart inched closer to profitability in FY24, with losses narrowing sharply by 84% to Rs 10 crore from Rs 63 crore in FY23. The company’s revenue from operations rose by 43% to Rs 5,427.7 crore in FY24. Its FY25 result has yet to be reported. Lenskart is also exploring the acquisition of location intelligence startup GeoIQ.
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Shark Tank India: After Oyo's Ritesh Agarwal, Zomato's Deepinder Goyal joins judges panel
Economic Times
·
1y ago
Medial
Zomato founder and CEO Deepinder Goyal has joined the panel of business reality TV show "Shark Tank India 3." The official Twitter handle of the show announced Goyal's participation. Last week, Oyo founder and CEO Ritesh Agarwal was also announced as a new "shark" for the upcoming season. They will join other judges, including Lenskart founder Peyush Bansal, Shaadi.com founder Anupam Mittal, and more. Goyal expressed his eagerness to learn and contribute on Twitter. The show features entrepreneurs seeking investments from these "sharks" for their business ideas.
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Business Should Be Built Around Problem Areas, Not Channels: Peyush Bansal
Inc42
·
1y ago
Medial
Lenskart's CEO and co-founder, Peyush Bansal, expressed doubts about the long-term success of the omnichannel model for the company. He believes that businesses should not be built solely on a model, but rather should address market pain points. Lenskart initially saw low conversion rates when restricted to online sales, prompting the expansion to offline stores. Bansal acknowledged that the success of the omnichannel approach may be temporary, as customer preferences and channels continue to evolve. Other speakers at the Startup Mahakumbh event, such as BlueStone's co-founder Gaurav Singh Kushwaha, highlighted the benefits of the omnichannel model for their businesses.
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