TOKYO, Nov. 12, 2018 /PRNewswire/ -- OWNDAYS Inc. ("OWNDAYS"; President and CEO: Shuji Tanaka), the holding company of the OWNDAYS group, is pleased to announce that it has entered into an agreement with two companies -- L Catterton Asia ("LCA") and Mitsui & Co., Principal Investments Ltd. ("MCPI") -- on third-party allocation of shares amounting to 3 billion yen as well as on partial transfer of shares held by the current management team.
The current management team headed by President and CEO Shuji Tanaka will continue to hold a substantial stake and to manage OWNDAYS hereafter. This is the first investment in a Japanese company for L Catterton Asia.
Leveraging on the global network, insight into retail & consumer goods industry and management-improvement capabilities of LCA and MCPI, OWNDAYS will continue to deepen its unique corporate culture, as well as to enhance its corporate value. The company aims to become the leading optical retail player both in Japan and across Asia with over 500 stores in the next 5 years.
With over $15 billion of equity capital across six fund strategies in 17 offices globally, L Catterton is the largest and most global consumer-focused private equity firm in the world. L Catterton's team of more than 160 investment and operating professionals partners with management teams around the world to implement strategic plans to foster growth, leveraging deep category insight, operational excellence, and a broad thought partnership network. Since 1989, the firm has made over 200 investments in leading consumer brands. L Catterton was formed through the partnership of Catterton, LVMH and Groupe Arnault. For more information about L Catterton, please visit lcatterton.com.
MCPI was established in May 2003 as a private equity arm backed by Mitsui & Co. group, and follows Mitsui's slogan "Challenge and Innovation" in its engagement in the investment business. MCPI aspires to (1) create corporate value by leveraging Mitsui's networks, (2) achieve operational improvement by providing full-time, hands-on support, and (3) propose a flexible investment structure according to the specific needs and conditions of each company. MCPI makes private equity investments both in Japan and overseas, providing managerial support to increase corporate value.
OWNDAYS Inc.
OWNDAYS Inc. is a Japanese eyewear brand with retail presence in 10 markets, including Japan, Singapore and Taiwan. It operates 257 stores globally. As a fast fashion eyewear retailer, OWNDAYS is constantly challenging itself to explore new market potential while innovating and improving its products and services. Standing by its philosophy of "enriching the lives of people associated with OWNDAYS", the brand aspires to be the eyewear of choice for consumers around the world.
