Eyewear Brand on Shark Tank India: Better than Lenskart, Namita Thapar says
Shark Tank India's eyewear pitch impresses Namita Thapar
25 January 2023
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Jayashri
Shark Tank India Season 2 featured an eyewear brand that competed against Peyush Bansal's
Lenskart, creating excitement among the sharks.
Upon examining the products, Namita Thapar stated that the eyewear he saw were better in
quality than those available at Lenskart.
Even though they managed to interest Namita Thapar, they walked away without a deal.
Recently on Shark Tank India Season 2, an entrepreneur presented his eyewear brand, sparking excitement among the sharks to see how it would fare against Peyush Bansal's Lenskart. Upon examination of the products, Namita Thapar declared the eyewear brand superior to that of Lenskart's offerings.
“Lenskart se toh boht ache hain (These are better than Lenskart),” she said. Piyuesh Kalra and Sunil Chhabra, the entrepreneurs behind Eyenic, sought Rs 75 lakh for a 6% stake in their company, valuing it at Rs 12.5 crore.
Namita further spoke to the entrepreneurs and acknowledged the difficulty of going up against a company like Lenskart, stating, "Lenskart se panga lena koi choti baat nahi hai (It's not a small feat to go up against Lenskart)”.
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Peyush Bansal, who built his fortune with the eyewear brand Lenskart, stated that while he does invest in other eyewear companies, he did not see any "fundamental differentiation" in the product of this particular brand, and thus decided not to invest in it.
After grilling the entrepreneurs, Amit Jain questioned their sales and concluded that there was not enough demand for their product, leading to his exit from the discussion.
Aman Gupta and Namita Thapar also followed suit. Anupam Mittal initially expressed interest in the business, but ultimately also decided to withdraw his interest.
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