Micro focus: What makes Lenskart’s Peyush Bansal a demanding boss?

Illustration by Manali Ghosh

Synopsis
Even in the funding winter, where other startups are struggling to survive, Lenskart is sunbathing like it was spring. In FY22, Lenskart’s revenue grew 66% to INR1,618 crore. But its founder’s self proclaimed customer obsession and the well-controlled growth that he architected have side effects.

In a product category that is considered borderline medicinal, Peyush Bansal founded Lenskart, a company that has put the ‘X’ factor back in specs. This is not an easy task. The eyewear market in India is extremely fragmented with a corner spectacles shop in almost every reasonably large locality. Fifteen years ago the Tatas had a go at this market through the Titan brand. Then they discovered gold, literally. It was this business that the Titan