Leading omnichannel eyewear retail brand, Lenskart is aiming to create micro-entrepreneurs through its Home-Try-On (HTO) business, which had witnessed a 200 percent growth since early 2020 with 300 super-star executives, offering over 8 lakh eyeglasses and conducting 10 lakh eye tests across 10 cities every month. The brand is now planning to expand the HTO business model further by incorporating these micro-entrepreneurs.
The HTO model received wide acceptance during the pandemic when the convenience of getting things done in the safety and comfort of homes proved to be even more critical.
The larger idea behind this is to build an ecosystem of on-demand services for eyewear similar to the on-demand cab service providers in India and globally. Adopting the omnichannel strategy early on and pioneering the Home-Try-On (HTO) services in India, Lenskart has taken consumers to the next level by offering an end-to-end service that includes eye check-ups, product selection, customization, and last-mile delivery.
Peyush Bansal, CEO, and Co-Founder, Lenskart, said, “Growing from being a start-up to a unicorn, we are driven by the purpose of transforming the vision of the world by creating an entrepreneurial environment. Through Lenskart, we want to enable opportunities for entrepreneurship to people and support hyper-growth career trajectories. For our HTO executives, it’s also about the dignity of labor – this model provides them a respected space where they are recognized as skilled professionals and trusted by our customers. The highly lucrative incentive model has also helped many of them achieve their dreams – from buying a bike, getting a higher education to paying off their home loans and singlehandedly supporting their families – all while working with the HTO program.”
With the current valuation of US$ 2.5 billion and total funding of US$ 315 million received in 2021, Lenskart’s vision is to grow exponentially in the coming 3-4 years. It currently sells over 7 million+ eyeglasses annually through its omnichannel shopping experience, including 750+ stores in 175 cities across the country.