Lenskart acquires majority stake in Japanese eyewear brand Owndays

Prescription glasses company Lenskart, backed by Softbank, has acquired a majority stake in Japanese D2C eyewear brand Owndays. This will take the company’s reach to 13 markets, including India, Singapore, Thailand, Taiwan, Philippines, Indonesia, Malaysia, and Japan, and make them one of the largest players in Asia’s online eyewear segment.

With this deal, will give an exit to Owndays major shareholders L Catterton Asia and Mitsui & Co., Principal Investments. Owndays co-founders, CEO Shuji Tanaka, and COO, Take Umiyama, will continue to be shareholders and lead the company’s management team. According to a Bloomberg report, the deal values Owndays at $400 million.

Peyush Bansal, Co-Founder and Group CEO at Lenskart, said, “In today’s age, the customer wants great products, great prices, and delightful experiences all the time. With Owndays we move a step closer to democratising eyewear. I have known Shuji-san and Take-san for over five years and have been an admirer of the disruptive brand and customer experience they have built. There is much we can achieve together which will be greater than the sum of its parts.”

has 300 people in its engineering team and is estimated to scale it up to 500 people in FY23. It will help build a stronger online and omni experience for Owndays, said the company in a media release. has also been investing in strengthening supply chain integration and automation, which will now be leveraged by both the brands to further enhance customer proposition and unit economics.

Lenskart will continue its rapid expansion in India and Southeast Asia to serve the mass to mid-premium segments while Owndays scales to cater to premium segments.

Owndays Founder and CEO Shuji Tanaka commented, “I believe digital transformation is the key to our next phase of growth in the post-pandemic operating environment, and I am excited to partner with Lenskart, which has deep expertise and intellectual capital in the information technology field. We envision that the combination of Owndays and Lenskart will bring about an abundance of innovation that will further revolutionise the eyewear industry to the benefit of people across the world.”

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