Lenskart

 Lenskart acquired majority stake in a Japanese eyewear brand called Owndays, which is a d2c (Direct to Consumer) eye wear brand . The deal is to create one of Asia's largest online eye wear retailer. This deal will be taking Lenksart's appearance to thirteen markets in Asia including India, Singapore Thailand, Taiwan, Philippines, Indonesia, Malaysia  and Japan.  The deal is estimated to be worth over $ 400 million dollars, and will give exit to Owndays' major share-holders L Catterton Asia and Mitsui &co and Principal Investments. 

Shuji Tanaka and COO Take uniyama  will continue to be shareholders and lead the management team of the company.

Peyush Bansal, co-founder and group CEO at LensKart said in today's world where customers need great products with great prices with delightful experiences, LensKart with Owndays will strive to democratize eyewear. He said that there is much to achieve together with Owndays and that it will be greater than the sum of it's parts. 

The acquisition will allow Lenksart to increase its presence in the premium segment. Owndays will continue to offer products as a separate brand. Lenskart will still be focusing on its expansion in India and Southeast Asia and will continue to serve the mass to mid-premium segment markets. Owndays scales to cater to premium segments. 

Lenksart ships over 10 million pairs of eyewear every year and has over 20 million app downloads as well as 1100 stores across India, Singapore and Dubai. The company grew by 60 per cent year-on-year in 2021 and is estimated to grow by another 50 per cent in 2022.