Owndays

In 1989, Owndays was founded in Tokyo, Japan, as a traditional optical shop. For nearly two decades, it operated like many others, with frames kept behind glass, a model that was about to be tested. By 2008, the company was facing potential bankruptcy, burdened with approximately 1.4 billion yen in debt. This is the moment where the story shifts. A young entrepreneur, Shuji Tanaka, acquired the struggling company, taking on the role of President and CEO. The playbook was rewritten. Tanaka introduced a simple, fixed-pricing system and an open-store concept, allowing customers to freely try on frames. This transformed glasses from a medical necessity into a fashion accessory. The focus was on a quick, valuable, and straightforward customer experience, offering stylish, in-house designed frames and a 20-minute processing time from eye test to delivery. This new model fueled rapid expansion. After establishing a strong presence in Japan, Owndays began its international growth in 2013, opening stores across Asia. In 2018, to accelerate this growth, private equity firm L Catterton and Mitsui & Co. acquired a majority stake in the company. A final, significant chapter unfolded in June 2022, when Indian eyewear retailer Lenskart acquired a majority stake in Owndays in a deal valued at around $400 million. Shuji Tanaka and his co-founder Take Umiyama remained as shareholders and at the helm of the Owndays brand. The merger created one of Asia's largest eyewear retailers, positioning Owndays to continue its growth as a premium brand within a larger entity.