Singapore-based Neso Brands said it would partner with and invest in consumer eyewear brands globally and grow them by leveraging synergies across the Lenskart Group.
Neso Brands will house these brands and enable a quicker global roll-out by giving them access to shared resources, particularly in technology, supply chain, distribution, capital and best practices, it said in a news release. Bjorn Bergstrom, a seasoned consumer scale-up, venture capital and management consulting specialist, has joined Neso Brands as its CEO, the release said. He most recently served as chief growth officer and interim chief product and technology officer for the global fashion brand NA-KD.
Eyewear group Lenskart is the latest entrant into brands roll-up in India, a space that has been heating up with companies such as Firstcry-backed Globalbees, Mensa, Goat Brands and Rebel Foods starting to aggregate direct-to-consumer brands across segments such as beauty, fashion, home décor and food. Close to $700-800 million of investments have already flown into the sector from risk investors, an ET analysis shows.
Lenskart is one of the earliest unicorns in the D2C space. It recently
raised $100 million from Alpha Wave Capital and was last valued at $4.3 billion.
“Consumers want better and better every day and while people’s quality of life has been uplifted through all other lifestyle products such as shoes, apparel and wearables, eyewear products are the same old with no innovation, just more expensive … Neso is our initiative to partner with founders globally to help create eyewear brands of the future,” said Peyush Bansal, CEO of Lenskart.
Discover the stories of your interest
Lenskart, founded in 2010, says it serves more than 10 million customers with a presence in 235 Indian cities and Singapore. It has also now entered the Middle East and the US.
For all the latest Technology News Click Here
