Notes
- Started in 2010
- Earlier they were doing 5 crores revenue with 5 crores Marketing / now it’s 50 crores
- The product needs to be significantly better for the people to switch
- Largest online eyewear company vs largest eyewear company
- If you are not available in other channels then advertising is going wasted / specially the people who are not comfortable buying online
- FMCG products run a television ad and the product is available on the next Kirana store
- 400 Stores in 90 Cities
- 60% Metros
- EBIDTA Positive
- Overall advertising is less than 10% of the revenue
- Growing 100% YoY
- 300 crores revenue in 2017-2018
- 500 crores in 2018-19
- If you can’t make your own store profitable then you can’t make franchisee store profitable
- Word of mouth has worked well for them
- Product and Service
- They measure Net Promoter Score / and for their home eye checkup business the NPS score is 60+ / it’s a separate profile business
- Acquired 2 American companies and 1 Israeli company
- Eventually they want to do eye exams using a phone
- The companies had patented products which Lenskart wanted
- Plans to go IPO in 2019, 2020
- Do not do too many things / have laser focus on a few things and go deep in those