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Amol Ghemud Published: February 23, 2026
Summary
Lenskart built India’s dominant eyewear platform through an omnichannel GTM that combined D2C digital with physical retail. Their strategy centered on virtual try-on technology that addressed the primary objection to buying glasses online, vertical integration of manufacturing to improve unit economics, and tier 2/3 city expansion to capture markets competitors ignored. They scaled from zero to India’s leading eyewear retailer in under a decade by making affordable fashion eyewear accessible nationally.
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From Virtual Try-On to $2.5B Valuation: Dissecting the Omnichannel Strategy That Dominated Indian Eyewear
Lenskart was founded in 2010 by Peyush Bansal and Amit Chaudhary in Delhi. The founding insight was straightforward: eyewear in India was either expensive (high-end designer brands) or low-quality (unbranded local shops). There was no aspirational, affordable, quality eyewear brand. Lenskart started as an online retailer selling designer frames and prescription lenses at prices 30 to 50 percent below retail stores.
The early GTM challenge was fundamental: how do you buy glasses online when you can’t try them on? Traditional eyewear retail relied on in-person try-ons. Lenskart’s founders recognized that solving this single problem would unlock a billion-dollar opportunity in the eyewear category across India.
The primary GTM problem was that eyewear is a category where physical try-on is essential. Customers don’t buy glasses without seeing how they look. Lenskart’s approach of shipping frames and accepting returns solved this, but it was friction-filled and expensive. The solution required technology that could simulate how frames would look on a specific face before purchase.
What GTM problem did Lenskart solve?
The second problem was that India’s eyewear market was heavily fragmented. Small optical shops dominated tier 2 and 3 cities. Lenskart recognized they could build a national brand by bringing affordable, aspirational eyewear to cities and towns that had never seen eyewear as fashion before.
The third challenge was unit economics. Operating as a pure retailer in eyewear meant thin margins. Traditional optical stores worked on 20-30 percent margins, which limited pricing flexibility and expansion capital. Lenskart needed to solve the margin problem to fund aggressive growth.
The final problem was cultural. Indians viewed eyewear as a medical necessity, not a fashion accessory. This perception limited market size and pricing power. Lenskart needed to reposition the category entirely to unlock the aspiration premium.
Virtual try-on technology as core differentiator
Lenskart invested heavily in virtual try-on technology that allowed customers to use their smartphone camera to see how frames would look on their face before purchasing. This was not a nice-to-have feature. It was the core of their GTM strategy because it solved the primary objection to buying glasses online. Virtual try-on converted skeptical customers into confident buyers by removing the uncertainty from the purchase decision.
This technology became a significant moat. Competitors could eventually copy features or pricing, but Lenskart’s investment in proprietary virtual try-on algorithms and AR technology created a stickiness that was hard to replicate. The technology also generated valuable data about which frames worked for which face shapes, which informed their product development.
The virtual try-on conversion rate reached 35-40 percent, meaning customers who used the feature purchased within days. This conversion rate was 3-4x higher than standard e-commerce conversion, proving the technology solved a real friction point rather than being a gimmick.
Omnichannel strategy combining online and offline
Lenskart’s most important GTM insight was that omnichannel wasn’t a luxury. It was necessary for the eyewear category. They launched experience centers in major cities where customers could try on frames in person, even if they intended to order online. These centers served as brand ambassadors and solved the trust problem for customers who remained skeptical of buying glasses without seeing them physically.
The omnichannel strategy allowed them to serve different customer segments. Tech-savvy millennials in tier 1 cities could buy completely online. Older customers or those in tier 2/3 cities could visit experience centers. Customers could try on frames online, visit a center to confirm, and then order. This flexibility expanded their addressable market significantly.
Experience centers also provided data advantages. Lenskart tracked which frames were tried most frequently, which face shapes matched which styles, and which price points converted best. This data fed back into online recommendations and product development.
Vertical integration for unit economics
Lenskart recognized early that eyewear margins were thin if you were just a retailer. They acquired manufacturing facilities and started producing frames in-house. This vertical integration gave them 60 to 70 percent margins on frame manufacturing versus 20 to 30 percent if they were just a distributor. These superior margins allowed them to price aggressively and fund rapid expansion without external capital.
Vertical integration also meant faster innovation cycles. Lenskart could design trendy frames in their own facilities and get them to market in weeks instead of months. This speed meant they could respond to fashion trends faster than competitors who depended on traditional supply chains.
Manufacturing control created pricing flexibility. Lenskart could run promotions, bundle offers, and discount strategies that would destroy margins for traditional retailers. This pricing power accelerated market share capture, particularly in price-sensitive tier 2/3 cities.
Tier 2 and 3 city expansion strategy
Lenskart’s smartest GTM move was recognizing that tier 1 cities (Delhi, Mumbai, Bangalore) were competitive battlegrounds, but tier 2 and 3 cities represented 80 percent of India’s eyewear demand. They built experience centers in cities like Jaipur, Lucknow, Indore, and Pune where they had little competition. This expansion brought aspirational eyewear to customers who had never seen fashion eyewear before.
This geographic expansion strategy created a network effect. As Lenskart expanded to 20 cities, they became the national brand for eyewear. This brand position attracted talent, partnerships, and customer loyalty that competitors in single or dual cities couldn’t match.
Tier 2/3 expansion was also capital efficient. Real estate costs were 50-70 percent lower than tier 1 cities. Customer acquisition costs were $10-20 compared to $50-100 in competitive metros. These economics meant each new store generated positive cash flow faster.
Bollywood and celebrity brand building
Lenskart invested significantly in celebrity partnerships and Bollywood tie-ins to position eyewear as fashion, not just function. Bollywood actors wearing Lenskart frames made eyewear aspirational to middle-class Indians who viewed eyewear as a medical device, not an accessory. This brand building was essential to creating emotional connection and driving social sharing.
The celebrity strategy also provided social proof in tier 2 and 3 cities where direct marketing was less effective. When aspirational figures wore Lenskart frames, local customers followed. This created a cultural moment around eyewear as fashion that competitors couldn’t replicate through traditional advertising alone.
Celebrity partnerships generated organic social media content. Customers shared selfies wearing frames endorsed by Bollywood stars. This user-generated content provided free marketing that traditional advertising couldn’t match in authenticity or reach.
Why did this GTM strategy work so well?
Lenskart’s GTM strategy worked because it solved multiple problems simultaneously. Virtual try-on solved the primary purchase friction. Omnichannel solved the trust problem. Vertical integration solved the unit economics problem, allowing aggressive pricing and rapid expansion. Tier 2/3 city focus solved the distribution problem by going where competitors weren’t.
The combination of technology, execution, and brand building created a flywheel that was hard to break. Each experience center validated the virtual try-on technology for skeptical customers. Each new location increased brand awareness through Bollywood partnerships. Each frame sold at higher margins due to vertical integration funded more expansion.
Lenskart also benefited from the right timing. Indian middle-class growth created millions of first-time eyewear customers. Smartphone penetration made virtual try-on feasible. E-commerce acceptance was rising. These macro trends aligned with Lenskart’s product and positioning perfectly.
The repeat purchase rate of 60-70 percent proved product-market fit. Customers weren’t just trying Lenskart once; they were returning for prescription updates, fashion purchases, and gift buying. This repeat behavior validated the entire GTM strategy.
Use technology to solve your core category friction
Lenskart’s virtual try-on technology directly addressed eyewear’s primary purchase objection. Identify your category’s biggest friction point and build technology to solve it. This becomes a defensible moat that competitors struggle to replicate.
Technology moats require continuous investment. Lenskart didn’t just launch virtual try-on and stop. They continuously improved the AR accuracy, added features like face shape detection, and integrated recommendations. This ongoing improvement kept the moat wide.
Measure technology impact through conversion metrics. If your technology doesn’t dramatically improve conversion or reduce friction, it’s a feature, not a moat. Lenskart’s 35-40 percent virtual try-on conversion rate proved the technology was foundational.
Build omnichannel from day one if your category requires it
Digital-only won’t work for all categories. If physical experience drives conversion, invest in omnichannel early rather than trying to patch physical onto a digital-first strategy later.
Omnichannel requires different economics than pure digital. Physical locations have fixed costs but generate offline and online sales. Lenskart’s experience centers drove online purchases through brand awareness even when customers didn’t buy in-store. This halo effect justified the real estate investment.
Design your physical locations as brand experiences, not just transaction points. Lenskart’s experience centers provided optometry services, style consultations, and frame customization. This service layer created differentiation from commodity optical shops.
Integrate backward when margins matter
If your supply chain is thin-margin, vertical integration might be worth the capital investment. Lenskart’s frame manufacturing turned them from a 20 percent margin retailer into a 60 to 70 percent margin manufacturer. This changed their economic power completely.
Vertical integration requires operational excellence. Manufacturing is different from retail. Lenskart had to build manufacturing expertise, quality control, and supply chain management. This operational complexity is worth it only if margin improvement justifies the investment.
Use margin gains to fund growth, not just increase profitability. Lenskart reinvested manufacturing margins into expansion and marketing. This created a growth flywheel where better economics enabled faster scaling.
Expand to underserved geographies where you can own the market
Lenskart didn’t compete in tier 1 cities where competitors were entrenched. They went to tier 2/3 cities and became the default brand. This is faster and cheaper than fighting in competitive markets.
Geographic expansion creates brand momentum. Becoming the leader in 20 mid-size cities is more valuable than being third in two major metros. The national brand perception attracts partnerships, talent, and press coverage.
Underserved markets often have better unit economics. Lower CAC, cheaper real estate, and less competitive pressure mean profitability comes faster. Use these profitable markets to fund expansion into competitive territories later.
Position a category as fashion, not function
Eyewear became a fashion category because Lenskart invested in design, trends, and cultural positioning. This pricing power and customer loyalty is worth orders of magnitude more than if eyewear remained a functional category.
Cultural repositioning requires consistent brand investment. Lenskart’s Bollywood partnerships, fashion collaborations, and trend-driven collections all reinforced that eyewear was fashion. This messaging had to be sustained for years before perception shifted.
Fashion positioning enables multiple purchases. When eyewear is functional, customers buy once every few years. When it’s fashion, they buy seasonally. This frequency increase dramatically improves lifetime value.
What metrics prove Lenskart’s GTM success?
Lenskart grew to command over 40 percent of India’s organized eyewear market by 2024. They operate over 500 experience centers across India and serve over 20 million customers. Their annual revenues reached $300+ million, with unit economics that supported over 30 percent operating margins.
Key metrics included a virtual try-on conversion rate of 35 to 40 percent, meaning 35 to 40 percent of customers who used virtual try-on purchased within days. Their repeat purchase rate was 60 to 70 percent, meaning customers returned regularly for new frames, prescription updates, and accessories. Their customer acquisition cost was $10 to $20 through viral and word-of-mouth channels in tier 2/3 cities.
Their Series E funding round in 2023 valued Lenskart at over $2.5 billion, making it India’s most valuable fashion e-commerce company. These metrics prove that omnichannel GTM with technology differentiation can scale to billion-dollar outcomes in emerging markets.
The 500+ experience centers generated both offline sales and online halo effects. Customers who visited centers were 3x more likely to purchase online later. This omnichannel synergy justified the physical expansion investment.
Common GTM mistakes Lenskart avoided
Some online retailers tried to force eyewear into a pure-digital model. Lenskart recognized that some friction is legitimate and invested in omnichannel rather than pretending digital-only would work.
Lenskart could have focused on Delhi, Mumbai, and Bangalore where visibility was highest. Instead, they expanded to tier 2/3 cities first, where they faced less competition and could become the category leader. By the time they returned to tier 1 cities, they were a national brand.
Many retailers stay focused on distribution and don’t integrate backward. Lenskart’s frame manufacturing created structural advantages in pricing, margin, and innovation that pure retailers couldn’t match.
Eyewear remained a functional category in India until Lenskart positioned it as fashion through celebrity partnerships. This positioning created emotional attachment and brand loyalty beyond functional benefits.
Conclusion
Lenskart proves that omnichannel GTM with technology differentiation can dominate emerging markets. By solving eyewear’s core purchase friction with virtual try-on, investing in omnichannel to remove trust barriers, and expanding to underserved geographies, Lenskart built a category-leading brand in under a decade.
Their vertical integration strategy demonstrates that supply chain control creates structural advantages that pure digital or pure retail models can’t match. By owning their own manufacturing, Lenskart achieved margins and pricing power that allowed them to expand faster and cheaper than competitors.
Ready to build an omnichannel GTM strategy for emerging markets?
Book a growth consultation with upGrowth to design a technology-enabled omnichannel strategy optimized for underserved markets, or explore our Go-to-Market Strategy Solutions for comprehensive frameworks on geographic expansion and vertical integration.
FAQs
1. How important was virtual try-on technology to Lenskart’s GTM?
Virtual try-on technology was foundational to Lenskart’s entire GTM strategy. It solved the primary objection to buying glasses online by allowing customers to see how frames looked on their face. This technology created a conversion advantage over pure-online competitors and pure-offline retailers. It became a defensible moat that competitors still struggle to replicate at scale.
2. Why did Lenskart invest in physical experience centers when they started online?
Lenskart recognized that eyewear requires physical try-on for customer confidence, especially in emerging markets. Experience centers solved the trust problem and allowed them to serve customers who weren’t ready to buy purely online. These centers also provided valuable brand building and marketing benefits that paid for themselves through increased conversion rates.
3. How did vertical integration change Lenskart’s GTM economics?
Vertical integration in frame manufacturing increased Lenskart’s margins from 20 to 30 percent to 60 to 70 percent. These superior margins allowed them to price aggressively, undercut competitors, and fund rapid expansion without external capital. This structural advantage became increasingly valuable as they scaled.
4. Why did Lenskart focus on tier 2 and 3 cities instead of tier 1?
Tier 2 and 3 cities represented 80 percent of India’s eyewear demand but had no aspirational brand. By expanding there, Lenskart became the category leader in markets where competitors weren’t entrenched. This geographic focus allowed them to dominate a region before moving to tier 1 cities where competition was fierce.
5. How did Bollywood partnerships drive Lenskart’s GTM?
Bollywood partnerships positioned eyewear as fashion, not function. This cultural repositioning created emotional attachment and aspiration among middle-class Indians who viewed eyewear as medical devices. Celebrity endorsements provided social proof in tier 2/3 cities where traditional marketing was less effective.
6. What is Lenskart’s customer acquisition cost and how do they maintain it?
Lenskart’s CAC is $10 to $20 in tier 2/3 cities, driven by viral growth and word of mouth. Customers share their virtual try-on experiences and fashionable frames on social media, creating organic awareness. High repeat purchase rates also mean customers return without new acquisition campaigns, which amortizes CAC across multiple purchases.
For Curious Minds
Lenskart's primary challenge was shifting the Indian consumer mindset from viewing eyewear as a mere medical necessity to a desirable fashion accessory. This category redefinition was crucial because it expanded the total addressable market and created pricing power beyond what a simple medical device could command. By repositioning glasses as a form of self-expression, Lenskart unlocked the aspiration premium needed to build a national brand. This strategic shift allowed them to introduce more styles, encourage multiple purchases, and appeal to a younger, fashion-conscious demographic that previously saw limited options. The success of this approach is foundational to their growth, transforming a low-frequency, need-based purchase into a high-potential retail category. Explore the full story to see how they executed this market-making strategy.
Lenskart successfully tackled the industry's poor unit economics by re-engineering the value chain with its D2C online model. Traditional stores operated on thin 20-30 percent margins, which severely limited their ability to invest in growth, technology, or branding. By selling directly to consumers online, Lenskart cut out multiple layers of intermediaries. This operational efficiency allowed them to offer products at prices 30 to 50 percent below retail while capturing healthier margins for themselves. This financial advantage became the engine for their aggressive expansion, funding critical investments in their virtual try-on technology and the rollout of physical experience centers. Solving the margin problem was the key that unlocked their ability to scale rapidly. Discover how this financial strategy set the stage for their market dominance in the full article.
For the eyewear category, an omnichannel approach was a strategic necessity, not a choice. A pure-play e-commerce model fails to address the deep-seated consumer need to physically interact with the product, creating a significant trust deficit that hurts conversion. Lenskart understood this and built a hybrid retail model that captured the best of both worlds.
Online Channel: Offered convenience, a wide selection, and the innovative virtual try-on feature for tech-savvy customers.
Offline Centers: Served as brand-building hubs, solved the trust problem for skeptical buyers, and provided in-person consultations.
This integrated strategy allowed them to cater to diverse customer segments across tier 1, 2, and 3 cities, drastically widening their reach compared to an online-only competitor. The full analysis shows how this phygital synergy created a powerful, defensible market position.
The virtual try-on technology was vastly superior to the high-friction "ship and return" model by directly addressing cost, convenience, and conversion. While shipping frames was a temporary fix, it was logistically expensive and created a poor customer experience filled with delays. Lenskart’s investment in AR-powered virtual try-on created a proprietary technology moat with clear advantages. First, it offered instant gratification, allowing customers to try hundreds of frames in minutes. Second, it drove a remarkable 35-40 percent conversion rate. Third, it generated invaluable data on which styles fit different face shapes, informing inventory and product design. This tech transformed a logistical nightmare into a scalable, data-rich competitive advantage. The complete article explains how this one feature became the core of their GTM strategy.
This high conversion rate provides definitive proof that the virtual try-on was not a gimmick but a powerful solution to the primary barrier in online eyewear sales: purchase uncertainty. A typical e-commerce conversion rate is much lower, so achieving 35-40 percent demonstrates that the technology successfully replicated the confidence of an in-person fitting. It shows that customers who engaged with the feature felt certain enough about the look and fit to complete the purchase. This data-proven value proposition confirmed Lenskart’s hypothesis that removing the try-on friction would directly unlock sales. The technology effectively de-risked the online transaction, converting hesitant browsers into confident buyers at a rate 3-4x higher than standard online retail. Learn more about how they leveraged this data by reading the full breakdown.
Targeting tier 2 and 3 cities reveals a strategy of market creation, not just competition within existing urban centers. This move signaled Lenskart's ambition to build a truly national brand by bringing aspirational, affordable, and fashion-forward eyewear to underserved populations for the first time. Instead of fighting for market share in saturated metros, they focused on building a national brand identity from the ground up in fragmented markets. This approach allowed them to establish a strong first-mover advantage, cultivate brand loyalty where none existed, and tap into a massive, previously ignored customer base. It was a deliberate plan to democratize fashion eyewear across India, cementing their position as the category leader. The full piece details how this expansion strategy was executed.
The physical experience centers served as the ultimate proof point for Lenskart’s omnichannel thesis by effectively bridging the trust gap for hesitant consumers. These centers were not just stores; they were brand embassies that provided a tangible touchpoint for a product that people are accustomed to trying on. For customers who remained skeptical of the virtual try-on or the quality of an online-only brand, the ability to walk in, feel the frames, and get an eye exam provided the final reassurance needed to make a purchase, whether online or offline. The success of these centers confirmed that a pure-play digital strategy would have capped Lenskart’s potential, proving that bridging the trust gap with a physical presence was critical to achieving mass-market adoption in India.
A D2C brand in a high-touch category can model Lenskart's successful omnichannel GTM strategy by following a clear, phased approach. The goal is to use technology to scale access while using physical locations to build trust and handle complex interactions. A replicable plan includes these steps:
Identify Core Friction: Pinpoint the single biggest reason customers hesitate to buy your product online, as Lenskart did with try-ons.
Develop a Tech Solution: Invest in proprietary technology like AR or advanced visualization tools to solve that core friction digitally.
Launch Experience Centers: Strategically open physical, low-inventory showrooms that act as brand hubs for discovery and trust-building, not just sales.
Integrate Channels Seamlessly: Ensure a smooth customer journey between online and offline, allowing them to browse online, try in-store, and buy anywhere.
This phased omnichannel rollout minimizes risk while maximizing market reach. The complete analysis offers more detail on executing each step effectively.
To build a technological moat like Lenskart's, a company must focus intensely on solving the single biggest customer problem with proprietary technology. The key is not just adding a feature but creating a core differentiator. The first step is to deeply analyze the customer journey and identify the primary point of friction or uncertainty that prevents an online purchase. Second, commit significant resources to developing a unique technological solution to that specific problem, aiming for an experience that is demonstrably better than any alternative. For Lenskart, this was the virtual try-on. Finally, continuously improve this technology and use the data it generates to create a feedback loop that informs product development and personalization. This strategy of solving the primary objection creates a lasting advantage.
Lenskart's success signals that immersive, AR-driven experiences are becoming essential for any high-consideration retail category sold online. The implication is that simply having good photos and product descriptions is no longer enough for items like furniture, jewelry, or high-end apparel. Brands in these sectors must adapt by investing in technology that allows customers to visualize products in their own context. This means investing in AR tools for placing a sofa in a living room or virtual try-ons for watches and makeup. The strategic lesson from Lenskart is that technology must solve a real customer problem, like reducing purchase uncertainty. This focus on the future of digital retail experiences will separate the market leaders from the laggards. The full article explores which other categories are next.
The critical problem Lenskart solved was the unsustainable unit economics of traditional eyewear retail. With legacy stores stuck at thin 20-30 percent margins, growth was perpetually cash-constrained. Lenskart's solution was a strategic re-engineering of the value chain through a direct-to-consumer model. By manufacturing or sourcing directly and selling online, they eliminated costly intermediaries like distributors and wholesalers. This structural advantage enabled Lenskart to offer eyewear at prices 30 to 50 percent lower than competitors while securing healthier margins for themselves. This generated the necessary capital to reinvest in technology, marketing, and the physical store network that fueled their rapid ascent. It was a foundational fix to a broken business model.
Lenskart directly tackled the psychological barrier of trust with a two-part solution designed to build confidence at each stage of the customer journey. The problem was the inherent consumer anxiety about buying a critical health and fashion item without physical interaction. Their solution involved overcoming purchase anxiety with a strategic combination of digital and physical touchpoints. The virtual try-on feature served as the first step, reducing initial hesitation by providing a realistic preview. For those who remained skeptical, the physical experience centers acted as the ultimate trust signal. These stores offered tangible proof of Lenskart’s quality and service, allowing customers to confirm their choice in person. This hybrid approach systematically dismantled the trust barrier.
Amol has helped catalyse business growth with his strategic & data-driven methodologies. With a decade of experience in the field of marketing, he has donned multiple hats, from channel optimization, data analytics and creative brand positioning to growth engineering and sales.
Growth Strategy and Planning
