Singaporean eyewear house Neso Brands on Thursday announced an investment of more than $100 million in eyewear brands.
Neso Brands said in a statement that it will partner with and invest in consumer eyewear brands around the world and grow those brands by leveraging synergies within the Lenskart Group to accelerate international expansion.
Neso Brands is an initiative of omnichannel eyewear unicorn Lenskart, whose investors include KKR, Softbank, Alpha Wave Global and Temasek.
“Today there is a perfect storm in the eyewear industry that makes it ripe for disruption. Consumers have increasingly high demands on customer experience, brand image and choice, but incumbents have been unable to keep up, investing in the industry’s most promising new brands and leveraging centralized resources in technology, manufacturing and distribution “, Neso Brands will be in a unique position to evolve the eyewear brands of the future. I look forward to leading the company on this journey and working closely with our investors and partners,” said Bjorn Bergstrom, President- CEO of Neso Brands.
Neso Brands is a Singapore-based global eyewear company founded in 2022 to enable the world’s most promising direct-to-consumer (DTC) brands to become brands of the future.
Until now, eyewear has been a very traditional industry with large incumbents, but it is now ripe for a technology-enabled global transformation. As mainstream e-commerce adoption skyrockets and technologies such as augmented reality (AR) and artificial intelligence (AI) mature, now is the time for nimble eyewear brands to capitalize on these trends and gain market share.
Neso Brands will host these brands and enable faster global deployment by giving brands access to shared resources; in particular technology, supply chain, distribution, capital and best practices.
To lead this business, Neso Brands appointed Bjorn Bergstrom as Founding President and CEO. Bergstrom is an experienced investor and DTC operator, having most recently served as Chief Growth Officer and Acting Chief Product & Technology Officer for global fashion brand NA-KD.
Based in Sweden and launched in 2016, NA-KD has expanded to over 100 markets and achieved net sales of over $200 million in just five years. Bergstrom’s experience prior to that includes work as a venture capitalist focusing on early-stage growth startups, management consulting as well as operational roles in consumer startups.
“With this investment in Neso Brands, we want to accelerate our mission to transform the way people see and experience the world. Consumers want better and better every day and although people’s quality of life has been improved through all other lifestyle products such as shoes, clothes and apparel, eyewear products are the same, without innovation, just more expensive. We firmly believe that the eyewear brands of today will not be the brands of tomorrow. And Neso is our initiative to partner with founders around the world to help create the eyewear brands of the future,” said Peyush Bansal, CEO of Lenskart.
Founded in 2010, Lenskart is Asia’s largest omnichannel retailer and manufacturer of high-end and contemporary eyewear. With a unique click-and-mortar business, Lenskart is transforming the eyewear industry by offering disruptive services like home vision testing and testing, 3D try-on and automated lens fitting.
The company aims to provide every consumer with access to high-quality eyewear by cutting out the middleman, using advanced robotic technology and incorporating world-class designs into its products.
Lenskart serves over 10 million customers with a presence in 235 Indian cities and Singapore through a network of over 1000 omnichannel stores, and has now entered the Middle East and US markets.
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