Valyoo Technologies

Initially, Valyoo Technologies operated as a multi-vertical e-commerce firm, launching several specialized online stores. The portfolio included Lenskart.com for eyewear, Watchkart.com, Bagskart.com, and Jewelskart.com. The company's initial strategy focused on establishing leadership within these specific retail categories rather than competing on price alone. However, by 2014, the company made a strategic pivot to concentrate solely on the eyewear segment, shutting down the other verticals to dedicate all resources to Lenskart's growth. This decision to pursue depth over breadth proved to be a critical turning point for the company.

Lenskart operates on a direct-to-consumer, vertically integrated business model. The company controls the entire value chain from design and manufacturing to warehousing and retail. This structure allows for greater control over quality and cost, enabling Lenskart to offer a wide range of eyewear, including private label brands like Vincent Chase and John Jacobs, at various price points. Revenue is generated through the sale of eyeglasses, sunglasses, and contact lenses via its online platforms and a vast network of physical stores. The business model is a hybrid, or omnichannel, one, combining a strong online presence with an expanding offline footprint. The first physical store opened in New Delhi in 2013, and the network has since grown to over 2,000 stores. Lenskart has also introduced services like home eye check-ups and a virtual try-on feature to enhance the customer experience.