Lenskart.com, Asia’s largest omnichannel retailer and manufacturer of premium quality and contemporary eyewear, has successfully launched a new store in Phulwari Sharif, Patna.
Last year, it acquired a majority stake in Japanese eyewear brand OWNDAYS CO LTD in a deal reportedly worth around $400 Mn. Back then, the company said that with such acquisitions, Lenskart aims to become the largest eyewear brand in the Asian market. Though it acquired majority stakes, OWNDAYS would continue to target the premium segment, while Lenskart would target the budget segment.
About the acquisition, hashtagPiyushBansal said that Lenskart.com was persistent about it and they sent six offers to the company out of which the last one got accepted.
Further talking about Lenskart’s growth plans, Bansal said that the company wants to work with long-term investors. “I have rejected a lot of deals at higher valuations to bring in the right investor, one we can partner with over the longer term,” he added.
In addition to market expansion, the eyewear major has been exploring ways to enhance its product as well. Recently, Lenskart acquired AI-powered computer vision startup Tango Eye for an undisclosed amount to automate quality testing at its manufacturing plants.
