Lenskart Launches Japan’s OWNDAYS Eyewear Products In India

Over two years after picking up a majority stake in Japanese eyewear brand OWNDAYS in a deal reportedly worth around $400 Mn, omnichannel eyewear unicorn Lenskart has now rolled out the formers’ products in the Indian market.

This move is aimed at expanding Lenskart’s portfolio with new brands and offering international products to Indian consumers, the company said in a statement.

“Our exclusive partnership with OWNDAYS in India is an expansion of high-quality international eyewear to Indian consumers. It combines OWNDAYS’ renowned expertise in superior craftsmanship with Lenskart’s extensive market presence and deep insights into local preferences,” said OWNDAYS India business head and John Jacobs CEO Apeksha Gupta.

Founded in 2010 by Peeyush Bansal, Amit Chaudhury, and Sumeet Kapahi, LensKart is an omnichannel eyewear retailer. The Gurugram-based eyewear brand claims to have a customer base of 2 Cr and plans to expand its Southeast Asia (SEA) market footprint with the launch of 300-400 stores in the region. Lenskart entered the unicorn club in 2019. 

In 2022, Lenskart acquired a majority stake in OWNDAYS with a deal reportedly worth around $400. However, the company said that OWNDAYS will operate independently.

Recently, the company reported that its operating revenue breached the INR 5,000 Cr mark in the financial year 2024. Its sales jumped 43% to INR 5,427.7 Cr during the year under review from INR 3,788 Cr in FY23. 

Earlier this year, Lenskart raised INR 160 Cr (about $19.1 Mn) from its cofounders Bansal, Neha Bansal, Amit Chaudhary and Sumeet Kapahi. Lenskart CEO Bansal emerged as the biggest investor in the round, pumping around INR 70.7 Cr. 

The funding by founders was followed by Singapore-based Temasek and US-based Fidelity infusing $200 Mn in Lenskart at a valuation of around $5 Bn in June. 

Besides India, Lenskart has presence in the UAE, Singapore, Japan, among others. The company has more than 2,500 stores, of which around 2,000 are in India. It claims to have a customer base of 2 Cr.

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