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Lenskart picks up majority stake in Japanese agency for $400 million

Omnichannel eyewear unicorn Lenskart on Thursday introduced that it has acquired a majority stake in Japanese eyewear model OnDaze in a deal price roughly $400 million. It will assist the merged agency to succeed in 13 markets in Asia together with India, Singapore, Thailand, Taiwan, Philippines, Indonesia, Malaysia and Japan. OnDaze’s co-founder, CEO Shuji Tanaka and COO Tech Umiyama, will stay shareholders and lead the administration crew that may proceed to function as a separate model.

Present main shareholders L Catterton, Mitsui and Principal Investments will exit Lenskart from their place. Piyush Bansal, Group CEO and Co-Founder, Lenskart, mentioned, “I see Lenskart and OnDays sharing frequent values ​​of enriching the lives of shoppers, caring for folks in our communities in addition to steady studying And we even have very complementary talent units.”

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