Gabriel Budi Sutrisno · · 2 min readNeso Brands buys stake in Paris-based eyewear brand in $4m deal
Photo credit: Le Petit Lunetier
Singapore-based Neso Brands, a company under Indian eyewear chain Lenskart, has acquired a US$4 million stake in Le Petit Lunetier, an omnichannel eyewear brand based in Paris.
Some of the funds will be used to speed up Le Petit Lunetier’s expansion, aiming to strengthen its brand presence across Europe as well as Asia and the Middle East.
The percentage of the acquired stake is undisclosed.
Neso CEO and co-founder Bjorn Bergstrom and fellow co-founder Peyush Bansal – who is also the CEO of Lenskart Group – will join the board of Le Petit Lunetier.
Neso Brands is a subsidiary of Lenskart Group, which has a network of more than 2,000 stores across Asia Pacific as well as the Middle East and North Africa region. Neso Brands recently raised over US$100 million in its first round of funding.
In 2022, Lenskart acquired Japanese eyewear brand Owndays for reportedly US$400 million. Earlier this year, Lenskart secured US$500 million from a subsidiary of government-linked Abu Dhabi Investment Authority.
Meanwhile, Le Petit Lunetier was founded in 2015 by former Google executive Jérémie Encaoua and optician Elie Attias. The brand, which currently operates 16 stores in France, had previously achieved profitability through bootstrapping.
The French company offers the option to purchase prescription lenses in-store, with the added benefit of reimbursement through the country’s public health insurance system.
See also: Bootstrapped and profitable: Singapore’s 9-figure D2C secret
Editing by Miguel Cordon and Dhania Putri Sarahtika
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