After watching Shark Tank India, too many of us have googled ‘Peyush Bansal net worth’ in wanting to know more about his journey. This is because he is the nation’s favorite judge.
Indian entrepreneur Peyush Bansal is a co-founder of Lenskart, the retail eyewear chain. Together with Sumeet Kapahi and Amit Chaudhary, he established the company in 2010. Bansal worked in the United States for the tech giant Microsoft before he became a Lenskart founder.
He decided to leave his job and go back to India in 2007 and worked to establish Lenskart. And today, it is one of the greatest eyewear stores in India. Lenskart became a unicorn in 2020 and was valued at more than $1 billion.
The Lenskart CEO also appeared as one of the judges on the reality show Shark Tank India and one of the common questions is always around ‘Peyush Bansal Net Worth’. In this article, we will not only talk about Peyush Bansal net worth but also share everything about his career and journey.
The owner of Lenskart was born on April 26, 1985, in New Delhi. Bansal sought a four-year college education in Electrical Designing – IT, Control, and Automation from McGill University in Canada from 2002 to 2006.
He started working for Microsoft shortly after graduating. Bansal had looked up to Bill Gates for a long time and he always wanted to work for him. At Microsoft, he worked in MS Office. Later, he decided to leave his position at Microsoft in 2007 and return to India.
He also received a management degree from the Indian Institute of Management, Bangalore, where he studied. In 2008, he decided to launch a website that was only for university students to help them, after he started interacting with them. Bansal launched SearchMyCampus while working toward his postgraduate degree.
The website provided answers to many issues that students may have, including those relating to housing, internships, part-time employment, and many more. Then, the Lenskart owner realized the gap in the eyewear industry, which inspired him to do more and solve bigger problems.
Lenskart was conceived out of the possibility that around one-third of the populace needs glasses. However, just some of them figured out how to gain admittance to them. In addition, India is known as the world’s blind capital, with nearly 15 million blind people as of the most recent statistics.
This is the sole motivation behind why Peyush Bansal chose to establish ‘Lenskart’. The initial concern that the company faced was, “Who will buy glasses online in India?” Peyush Bansal, though, also discovered that along the way.
According to reports, Peyush Bansal net worth is Rs 600 crores. In addition, Fortune India’s 2019 list of the Best 40 Under 40 Entrepreneurs included him. In June 2009, he launched Flyrr, Watchkart, Bagskart, and JewelsKart, among other businesses. Bansal invested all of his time, effort, and ideas into Lenskart, which became the brand it is today, even though none of these brands took off.
But before we focus on Peyush Bansal net worth – his company and its growth, we’ll talk about the journey that led him there.
|Date of birth
|April 26, 1985
|Peyush Bansal Age
|New Delhi, India
|New Delhi, India
|Peyush Bansal Net Worth
|INR 600 crores
|Peyush Bansal Education
|Don Bosco School, McGill University and College Indian Institute of Management
Peyush Bansal is considered to be one of the most splendid business visionaries in India. He began his excursion from being a productive understudy to building an organization at a worldwide level. Peyush Bansal net worth has only witnessed growth over the last few years, which has further resulted in a luxurious lifestyle for him.
Peyush holds a degree in electrical engineering with a focus on information technology, control, and automation from McGill University in Canada. And he was fortunate to land a high-paying job with Microsoft in the United States after completing his engineering.
The Lenskart CEO, however, decided to follow his heart’s calling within a year of being there, despite the great time he was having at the company. He returned to India for an MBA program at IIM Bangalore. He launched Valyoo Technologies around this time, starting with SearchMyCampus as his first business.
Bansal established Valyoo Technologies in 2007, which initially managed several e-commerce websites for a variety of industries. However, after some time passed, he decided to concentrate the business solely on the eyewear industry, renaming it Lenskart in 2010.
The Lenskart founder established Flyrr, an eyewear, and contact lens-selling online store for the US market, in 2009. However, Peyush dealt with certain issues with tasks and conveyance, which caused him to understand that he wanted more command over his business. As a result, in November 2010, he decided to open Lenskart, a store similar to it, but based in India.
Not long after its success, in May 2011, the Lenskart CEO established another venture called Watchkart that sold marked watches. He launched Bagskart, an online store that sold a variety of handbags, later in August. After that, he established Jewelskart, which offered a variety of jewellery for sale.
With a 200% growth rate by 2014, Lenskart was outperforming its sister verticals. Nonetheless, because of low footing and monetary misfortunes, Peyush chose to close down Watchkart, Bagskart, and Jewelskart in 2015. This assisted him with zeroing in on Lenskart better and making it the brand it is today.
With over 700 retail locations and a substantial online presence, Lenskart has grown to become one of India’s largest eyewear companies under Bansal’s leadership. The organization has additionally ventured into global business sectors, including Singapore and the UAE.
The founder of Lenskart has been recognized with several awards. It includes being named Entrepreneur of the Year by Entrepreneur India in 2020 and being included on Fortune India’s 40 under 40 list in 2016. Bansal’s capacity to successfully identify and capitalize on business opportunities, as well as his dedication to creating a strong brand and delivering high-quality products and services, has made him a respected figure in the Indian business community.
On Shark Tank India, Peyush also invested in several startup concepts and businesses. One of these came from Kamlesh Nanasaheb Ghumare aka Jugaadu Kamlesh, a promising Malegaon entrepreneur. He and his partner Naru pitched the Sharks a pesticide spray solution.
As a judge on Shark Tank India, the Lenskart CEO invested 10,00,000 for 40% equity and a flexible, zero-interest loan of 20,00,000 to help farmers through their difficulties. He updated in February of last year, stating that a designer had been hired to assist with the product. And now, finally, their first go-to-market version is ready.
Peyush Bansal shares constant updates about this venture, and he is rooted in the idea to help entrepreneurs. He also uploaded a video in which he conversed with Kamlesh, Naru, and the project’s designers.
Peyush Bansal net worth growth is proof of his journey being a successful one. Overall, the path that Peyush Bansal has taken in his career demonstrates his drive for success and entrepreneurial spirit. He has demonstrated his ability to innovate, grow successful businesses, and give back to the community through a variety of philanthropic endeavours through his work at Lenskart and other ventures.
According to Mint, Peyush Bansal is one of the richest sharks on the unscripted TV show. Peyush Bansal net worth totalled a whopping Rs 600 crore. On Shark Tank India, he invested in several businesses to increase his wealth. The Lenskart owner charged Rs 7 lakhs for each Shark Tank India Season 1 episode. On the other hand, his company is doing just as well and the Lenskart worth is proof.
Lenskart has nearly 1,000 storefronts and approximately 175 locations. Reportedly, the organization has raised more than $900 million and has investors such as Bay Capital, Chiratae Ventures, SoftBank Vision Fund, and Temasek Holdings.
Taking a look at the Lenskart turnover and its total assets, various financial backers have shown interest in the organization. As a result, there have been 15 funding rounds so far. Additionally, it was said that the business will actively work toward initiating an initial public offering over the next three years.
Lenskart valuation is at more than $4 billion based on recent funding rounds. As per its yearly fiscal summary, Lenskart’s working pay expanded 66% to $182 Million in FY22.
Lenskart is thriving due to several reasons, among which, Peyush Bansal’s business sense is one. The business model and strategies involved so far are also a benchmark in the start-up world.
Lenskart sells more than 45 different kinds of high-quality lenses and more than 5000 different frames and glasses. The business operates on an inventory-driven model, with equal sourcing from India and China. It has a team of designers and stylists who monitor the most recent eyewear trends and then send the designs to the manufacturers.
To win over customers’ trust, the business used two strategies: In addition to offering large discounts and a 14-day, no-questions-asked return policy, they established a chat line to answer any questions. The organization depended on Google’s positioning for advancement and showcasing. In October 2017, Katrina Kaif turned into Lenskart’s most memorable brand envoy.
Peyush Bansal is a well-known entrepreneur who holds the position of Co-Founder, Chief Executive, and People Officer at Lenskart. He is credited with creating a diverse online marketplace for prescription and fashion eyewear in India.
While he has founded and managed several other businesses in the past, Peyush has openly stated that Lenskart is his true passion. As a result of his entrepreneurial success, he has achieved a substantial net worth.
As an owner of Lenskart, he has worked to prove that all businesses require taking risks. His portfolio and business sense on Shark Tank has always been the epitome of a good work ethic. ‘Peyush Bansal Net Worth’ is something we find people discussing, but there’s an entire history to that number.
The Lenskart founder has tried hard to inculcate his knowledge and empathy in his work which reflects. He’s truly a role model to many!
And for more career tips and useful information view our more blogs on Life Skills.
Peyush Bansal, the founder, and CEO of Lenskart, has a significant stake in the company he created. As of the latest information available in 2023, Bansal holds an 8.21% ownership stake in Lenskart, which is a major Indian eyewear and eyecare retailer. This information was revealed during a pitch by Lenskart on an episode of Shark Tank India.
Yes, Peyush Bansal, the owner of Lenskart, is a self-made billionaire. In addition to running his successful eyewear and eyecare company, Bansal also serves as a judge on Shark Tank India. Bansal has worked hard to build his business, which has grown to become one of the most prominent players in the Indian eyewear market. Peyush Bansal net worth was reported to be INR 600 crore in 2023.
According to recent reports, Lenskart’s CEO Peyush Bansal has a monthly salary of over Rs 4 crores. Bansal, who founded Lenskart in 2010, has played a crucial role in the company’s growth and success. This has led to a constant growth in Peyush Bansal net worth.
Peyush Bansal’s net worth totaled a whopping Rs 600 crore. Bansal, who started Lenskart in 2010, has built the company into a major player in the Indian eyewear market. His net worth
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