Eyenic Eyewear on Shark Tank India owner, valuation, revenue, net worth

All-eyewear brand Eyenic Eyewear was recently featured on Shark Tank India 2, find out everything about the firm and its experience on the show along with the owner

Due to the innovative goods that young Indian entrepreneurs are developing and bringing to market, Shark Tank India Season 2 on Sony TV is already making news. While, most of the time, the pitch’s uniqueness made news, rivalry drama sometimes took center stage at the business-inspired show.

It recently happened when a rival of a shark’s firm made a pitch. Due to this, the program gets more entertaining for viewers. The Shark Tank India pitch for “Eyenic,” a rival eyewear brand to Lenskart, by Peyush Bansal, became fascinating.

Eyenic Eyewear on Shark Tank India owner founder, valuation, revenue, net worth

Earlier, Recode, a rival of Vineeta Singh’s Sugar Cosmetics, generated a lot of attention with their product and profits when they made a pitch on Shark Tank. Now on Shark Tank India 2, another entrepreneur, Piyush Kalra, the founder of “Eyenic,” a Lenskart competitor brand, pitches for finance.

The firm has gained immense attention in no time, and right now, many people are trying to find out more about it. So, let’s find out everything about it:

More about Eyenic Eyewear

Eyenic Eyewear is well-known for selling all eyewear, including eyeglasses, sunglasses, and contact lenses. Young entrepreneurs fuel their efforts to produce products that are innovative, high-quality, and aesthetically pleasing. They are making every attempt to dominate this market by having their own production as an Indian corporation.

In 2017, Piyush Kalra and Sunil Chhabra launched the business. It is a brand of product made in India. Additionally, they sell their goods on their website and other online marketplaces like Amazon and Flipkart.

Eyenic Eyewear’s sales to date total $4 million. They trade between shops, which may run between Rs. 50,000 and Rs. 1 lakh. In FY 21–22, the Eyenic Eyewear Business had sales of Rs. 1 crore. So far in FY 22–23, sales have reached Rs. 75,000,000. They have a 45% gross margin and a 21% net profit.

There are more than 300 retail locations for the eyewear business in five different countries. Frames account for 85% of sales at Eyenic Eyewear, while lenses account for 15%. 20% of their sales now come from a new category they developed called turban wear in frames.

Its experience on Shark Tank India 2

Founders from India came to Shark Tank with the idea to produce distinctive eyewear styles. The sharks regarded Peyush as a potential danger to the business. For their proposal, they asked for 5% of the company.

The sharks were thrilled when they presented their ideas to them. All of the sharks wished them luck but made them no offers.

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