Comments
Lenskart’s subsidiary Neso Brands has raised more than $100 million seed funding from KKR, Softbank, Alpha Wave Global and Temasek.
The Singapore-based global eyewear, Neso Brands said it will house eyewear brands and enable a quicker global roll-out by giving the brands access to shared resources particularly technology, supply chain, distribution, capital and best practices. Neso Brands will partner and invest in consumer eyewear brands worldwide and grow these brands by leveraging synergies across the Lenskart Group to accelerate international expansion.
To lead this endeavor, Neso Brands has appointed Bjorn Bergstrom as founding CEO. Bergstrom is an experienced investor and D2C operator, having most recently served as Chief Growth Officer and interim Chief Product & Technology Officer for the global fashion brand NA-KD. Bergstrom’s experience prior to that includes working as a venture capital investor focusing on early-stage growth startups, management consulting as well as operational roles at consumer startups.
Bjorn Bergstrom, CEO of Neso Brands, said, “Today there is a perfect storm in the eyewear industry that makes it ripe for disruption. Consumers have increasingly high demands when it comes to customer experience, branding, and choice, but incumbent players have been unable to keep up. By investing in the most promising new brands in the industry and leveraging centralized resources across technology, manufacturing and distribution, Neso Brands will be uniquely positioned to scale the eyewear brands of the future. I am very much looking forward to leading the company on this journey and working closely together with our investors and partners”
Adding to this, Peyush Bansal, CEO of Lenskart, said, “With this investment in Neso Brands, we want to accelerate our mission of transforming the way people see and experience the world. 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. It is our firm belief that the eyewear brands of today will not be brands of the future. And Neso is our initiative to partner with founders globally to help create eyewear brands of the future. ”
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.