Lenskart vs Specsmakers: Which Company Is Doing Better?

Lenskart vs Specsmakers

When it comes to eyewear accessories, the battle of Lenskart vs Specsmakers has made the headlines! Reason? Both offer exclusive eyewear accessories and are ruling the offline as well as online markets of India. Eyewear accessories have become more than a necessity in today’s world. Just like any other accessories, eyewear is now a part of fashion too!

Lenskart vs Specsmakers

Hence it led to confusion among folks concerning- Lenskart vs Specsmakers. 

Which company is doing better? Whose eyewear is better? Do both of them offer a guarantee/warranty? And the list goes on…

So, to solve your queries, we are presenting a thorough comparative analysis of Lenskart vs Specsmakers where we will compare their profiles, features, and business performance. In the end, you will find out which is better Lenskart vs Specsmakers.

Stay tuned!

(A) Lenskart vs Specsmakers: A Brief Overview

First of all, let’s compare the profiles of Lenskart vs Specsmakers. It will help you to get an overview of both the companies.

Look at the table given below-

ParticularsLenskartSpecsmakers
Type of CompanyPrivatePrivate
IndustryPrescription Eyewear,
Opticians
Eyewear Retail
Founded20102007
FoundersPeyush Bansal (CEO), 
Amit Chaudhary, Sumeet Kapahi
Pratik Shah (CEO),
Sonal Shah (COO)
HeadquartersGurugram (Haryana, India)Chennai (Tamil Nadu)
Number of LocationsOver 2000 retail stores250+ retail stores in 20+ cities across India
Area ServedIndia, 
Southeast Asia, 
East Asia, 
Middle East, 
United States
Nationwide presence across 40+ cities in India
SubsidiariesOwndays, Neso BrandsN/A
Product RangeEyeglasses, Frames, Sunglasses, Contact LensesEyeglasses, Sunglasses, Contact Lenses
Pricing StrategyCompetitive pricing with a wide range of products Affordable prices with a focus on customer experience 
Customer ServiceVirtual try-on feature, Free shipping, 15-day return policyHome eye check-up in Chennai, Expert assistance for frame selection
Online PresenceStrong online presence with an easy-to-use website and virtual try-on featureCombination of online and offline presence 
Growth TrajectoryRapid growth and expansion across cities Steady growth with a commitment to quality 
ChallengesStiff competition from other eyewear brands, Achieving profitability Intense competition in the eyewear market, Balancing online and offline operations
Unique StrengthsWide product range, Competitive prices, Strong online presenceCustomer-centric approach, Home eye check-up service,  Wide product range 
CompetitorsEyemyeye, Titan Eyeplus, CoolwinksLenskart, Eyemyeye,  Titan Eyeplus, Coolwinks
Lenskart vs Specsmakers: A Brief Overview

Both Lenskart and Specsmakers have carved out their niches in the Indian eyewear market. Due to this, they’re able to cater to diverse customer needs. In the upcoming sections, we will look at both brands individually.

(B) Lenskart: Revolutionizing Eyewear Brand in India

Is Lenskart profitable?

Lenskart has a very interesting story! Founded in 2010 by an ex-Microsoft “techie” with boundless passion, Lenskart has emerged as India’s fastest-growing eyewear business. With a unique blend of online and offline retail, innovative services, and a commitment to affordability, Lenskart is transforming the eyewear industry in India.

You can ask a Lenskart user and you will get to know the impact of Lenskart in the Indian market. 

(B.1) What’s the vision of Lenskart?

India faces a staggering challenge: over 15 million blind people, making it the blind capital of the world. Additionally, 153 million Indians need reading glasses but lack access to them. Lenskart’s mission is to address this gap by providing high-quality eyewear at affordable prices. The company aims to reduce avoidable blindness and empower millions with clear vision.

Apart from that, the founders- Peyush Bansal, Amit Chaudhary, and Sumeet Kapahi envisioned the following-

  •  Eliminate intermediaries
  • Set up high-quality manufacturing
  • Directly supply eyewear to consumers across India.

(B.2) How Lenskart Works?

Lenskart Business ModelDescription
In-House ManufacturingLenskart’s state-of-the-art manufacturing facility in New Delhi produces 3 lakh glasses per month. Robotic lens manufacturing ensures precision and top-quality control.
Online & Offline PresenceLenskart’s unique model combines a robust online platform (lenskart.com) with 1400+ retail stores. This hybrid approach allows customers to experience eyewear both virtually and in person.
Home Eye Check-Up ServiceLenskart disrupted the industry by introducing the first-of-its-kind “Home Eye Check-up” service. Trained optometrists visit homes, conduct eye tests, and recommend personalized solutions.
Affordable LuxuryLenskart offers a wide range of eyeglasses, sunglasses, and contact lenses. From budget-friendly options to premium designer frames, they cater to diverse tastes and budgets.
Quality AssuranceLenskart’s robotic manufacturing ensures accuracy to three decimal places. Their commitment to quality has fueled their remarkable growth.
Lenskart Business Model

Note: We have already explained the business model of Lenskart. You can check it out for detailed information.

(B.3) Impact of Lenskart on the Indian Market

The following table describes how Lenskart impacts the Indian market-

Lenskart’s ImpactDetails
Customer ReachLenskart reaches over 100,000 monthly customers through its online platform and retail stores.
Changing LivesFrom servicing 30 customers per day to over 30,000 today, Lenskart has made eyewear accessible to millions.
Technological EdgeLenskart’s use of robotic technology sets it apart. Automated inspections, precise lens centering, and efficient edging contribute to their success.
Social ResponsibilityBy providing free eye check-ups and affordable eyewear, Lenskart contributes to reducing avoidable blindness in India.
Great QualityLenskart’s lenses are made by robots, ensuring precision and consistency. German-imported machines inspect lenses and load them for edging without finishing blocks.
Transparent PricingLenskart believes in transparency. Customers can make informed choices without hidden costs.
Fashion and FunctionWhether you seek trendy frames or functional eyewear, Lenskart offers a diverse collection.
Customer SatisfactionLenskart’s commitment to consumer satisfaction has garnered immense support from those who believe in their cause.
Impact of Lenskart on the Indian Market

With this, Lenskart’s journey continues as it is keen to accomplish the following objectives-

  • Extend services to remote corners of India.
  • Provide high-quality eyewear to millions.
  • Bridge the gap in optometrist availability.

That’s how, Lenskart is making eyewear accessible, stylish, and affordable for all.

(C) Specsmakers: Crafting Affordable Eyewear with Style

Specsmakers

Specsmakers is a pioneer in the eyewear industry, redefining the way Indians perceive and purchase glasses. Established in 2005, this Chennai-based company has swiftly risen to prominence, offering a wide range of fashionable, high-quality eyewear at affordable prices. With a mission to become the most accessible eyewear retailer, Specsmakers combines style, quality, and affordability to cater to diverse customer needs.

The mission of Specsmakers is to become the most affordable eyewear retailer offering high-quality products at affordable prices.

(C.1) Features of Specsmakers

Let’s look at some of the exclusive features of Specsmakers-

Specsmakers’ FeaturesDescription
Retail PresenceSpecsmakers operates more than 250 retail locations across various cities in India, including Chennai, Bengaluru, Coimbatore, Hyderabad, Madurai, and many more. Their strategic expansion continues as they venture into new territories, ensuring that their eyewear reaches people far and wide.
Stylish Eyewear CollectionSpecsmakers boasts an extensive collection of eyeglasses and sunglasses, catering to different tastes and preferences. From classic rimmed frames to trendy aviators, they offer a diverse range of styles. Whether you’re a fashion enthusiast or seeking functional eyewear, Specsmakers has something for everyone.
Affordability and TransparencySpecsmakers believes in simple pricing and complete transparency when it comes to the prices of eyewear. Customers can make informed choices without any hidden costs. Their commitment to wallet-friendliness ensures that quality eyewear remains accessible to all.
Warranty and ServiceSpecsmakers stands by the durability of its products. They offer a warranty on all items, making replacements hassle-free. Their exceptional service extends beyond sales, ensuring customer satisfaction throughout the eyewear journey.
In-House Designs and CustomizationWhile collaborating with global brands is common, Specsmakers takes pride in its in-house designs. They prioritize customization, allowing customers to find eyewear that suits their unique style and needs.
Contact Lenses and Computer GlassesIn addition to eyeglasses, Specsmakers offers a range of contact lenses for those seeking an alternative to glasses. Their computer glasses address digital eye strain, a prevalent concern in today’s tech-driven world.
Virtual Try-On and Customer EducationSpecsmakers provides a virtual try-on service, helping customers visualize how frames look on their faces. They emphasize customer education about eye health, proper eyewear care, and the importance of regular eye check-ups.
Features of Specsmaker

As Specsmakers continues to expand its footprint, it remains dedicated to its founding principles i.e. stylish eyewear, affordability, and exceptional service. No matter, whether you’re a student, a professional, or a fashion-conscious individual, Specsmakers welcomes you to explore eyewear that complements your lifestyle!

(D) Features Comparison: Lenskart vs Specsmakers

Here comes the most anticipated part of this write-up! I know you all have been looking for a detailed features comparison of Lenskart vs Specsmakers. So, without any delay, look at the table below that will help you determine which has better features- Lenskart or Specsmaker…

FeaturesLenskartSpecsmakers
Product RangeOffers a wide variety of eyeglasses and sunglasses, catering to different tastes and budgets.Provides advanced eyewear options at affordable prices, with a focus on customer experience. 
Price RangeBudget-friendly options start from ₹999. The premium collection includes global brands.Stylish frames are available at prices as low as ₹595.
Frame OptionsDiverse range of frame styles, including rimmed and aviator frames. Versatile collection with different styles and colors. 
Home TrialOffers a free home trial where you can try up to 100 frames before making a decision.Not specified, but likely available in their retail stores.
Virtual Try-OnNot officially disclosed, but they have a wide range of frame options.Provides a virtual try-on service to help customers choose the best frame.  
Retail PresencePrimarily an online store, but also has some physical retail outlets.Over 250 retail stores across 20+ cities in India. 
Customer ServiceNot specified, but likely offers good customer support.Focuses on providing a great customer experience with high-quality products. 
Lens OptionsOffers a wide range of prescription lenses, including single vision, bifocals, and progressives.Provides customizable lens options to suit individual needs, with anti-glare coatings and blue light protection.
Lens UpgradesLenskart offers premium lens upgrades such as high-index lenses, photochromic lenses, and polarized lenses.Specsmakers focuses on providing affordable yet high-quality lenses, with options for UV protection and scratch resistance.
Contact LensesLenskart has a comprehensive collection of contact lenses, including daily disposables, monthly lenses, and colored contacts.Specsmakers primarily focus on eyeglasses but may offer basic contact lens options.
Eye Health ServicesLenskart provides eye check-ups at their retail stores and online. They also have an AI-based eye test feature.Specsmakers emphasizes customer education about eye health and proper eyewear care.
Brands CollaborationLenskart collaborates with celebrities and designers for exclusive collections.Specsmakers focuses on in-house designs and value-driven offerings. 
Warranty and ReturnsLenskart offers a 14-day return policy and a 1-year warranty on frames and lenses.Specsmakers likely has its own warranty and return policies, but specific details are not readily available.
Features Comparison: Lenskart vs Specsmakers

Both Lenskart and Specsmakers are strong contenders in the Indian eyewear market, each with its unique strengths. While Lenskart dominates the online space, Specsmakers combines online and offline presence effectively. Ultimately, your choice may depend on your personal preferences, style, and budget!

By the way, which one did you like the most? Don’t forget to share your thoughts in the comment section!

(E) Lenskart vs Specsmakers: Business Comparison

What’s the need for a businesswise comparison of Lenskart vs Specsmakers? You may wonder. Well, a business-wise comparison between Lenskart and Specsmaker is crucial for informed decision-making in the Indian eyewear industry. It will help you to determine which company is doing better business!

This analysis provides consumers, investors, and industry stakeholders with a comprehensive understanding of the strengths, weaknesses, and distinctive features of each brand. By scrutinizing key business aspects such as product formulations, market presence, and financial performance, individuals can make educated choices based on their preferences and requirements.

So, here is the business comparison of Lenskart vs Specsmakers-

Business AspectsLenskartSpecsmakers
Market Valuation$4.5 billion (Rs.36,742 crores)$27 million
Market Share10%-15%Specific market share data is not available. However, Specsmakers is a prominent player in the Indian optical retail industry.
Revenue EarnedRs.3,780 crore (FY22)Upto Rs.100 crore
ExpensesRs.1.726 crore (FY22)N/A
Profit/LossRs.260 crore (fY23)N/A (The company’s profitability status is not explicitly mentioned. However, it is noted that Specsmakers is yet to turn profitable.)
Comparing the business aspects of Lenskart vs Specsmakers

Lenskart, with a market valuation of $4.5 billion and a market share ranging from 10% to 15%, demonstrates a significant presence in the eyewear industry. In the fiscal year 2022, the company reported impressive revenues of Rs.3,780 crore, offset by expenses of Rs.1,726 crore, resulting in a profit of Rs.260 crore in the fiscal year 2023. 

This highlights Lenskart’s robust financial performance and strategic positioning in the market.

In contrast, Specsmakers, with a comparatively modest market valuation of $27 million, lacks specific market share data but holds prominence in the Indian optical retail sector. Despite being a key player, the company’s revenue is reported to be up to Rs.100 crore, with profitability yet to be achieved. 

Specsmakers’ financials indicate a challenging landscape, marked by the absence of explicit profit/loss figures and the ongoing pursuit of profitability.

Overall, Lenskart emerges as a formidable force, leveraging its substantial market valuation, notable market share, and strong financials. Specsmakers, while holding a significant position in the industry, face the challenge of turning profitable, and its comparatively smaller market valuation underscores the competitive dynamics within the eyewear business.

(F) Wrapping Up Lenskart vs Specsmaker

In the competition between Lenskart and Specsmakers, Lenskart appears to be leading the race. With its impressive market valuation, substantial market share, and strong financial performance, Lenskart showcases a robust presence in the eyewear industry. On the other hand, while Specsmakers holds its ground as a prominent player, its smaller market valuation and ongoing quest for profitability indicate challenges ahead.

Ultimately, Lenskart’s solid performance positions it as the frontrunner in the eyewear market. However, both companies have their strengths and opportunities, making it an interesting space to watch for future developments and innovations!

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Published By: Supti Nandi
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Riya Chaturvedi
Riya Chaturvedi
3 days ago

Lenskart will be the preferred choice, not only because of its high quality but also they have superb offers an deals every time. Have used their services.