Business Standard

Lenskart acquires majority stake in Japanese eyewear brand Owndays

This acquisition will take Lenskart's reach to 13 markets, including India, Singapore, Thailand, and Japan and make it one of the largest players in Asia's online eyewear segment

Photo: Bloomberg
Premium

Photo: Bloomberg

Shivani Shinde Mumbai
Softbank-backed prescription glasses company Lenskart has acquired a majority stake in Japan’s D2C eyewear brand Owndays. The deal will create one of Asia’s largest online eyewear retailer.

The acquisition will take Lenskart’s presence to 13 markets in Asia, including India, Singapore, Thailand, Taiwan, the Philippines, Indonesia, Malaysia, and Japan.

The deal, according to sources, is estimated to be $400 million and will give exit to Owndays major shareholders L Catterton Asia and Mitsui & Co, and Principal Investments. Owndays co-founders CEO Shuji Tanaka, and COO Take Umiyama, will continue to be shareholders and lead the management team of the company. 

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jun 30 2022 | 12:51 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com