With the entrance of the investment fund, the Japanese chain will push forward an expansion plan across Asia under the purpose of opening five hundred stores in five years.
L Catterton aims at the Japanese market. The investment fund, born in 2016 from the union of L Capital and Catterton, has partnered with business group Mitsui&Co to take a stake in the Japanese optic Owndays. The agreement’s terms have not transcended.
With the entrance of two new investors, Owndays will start an expansion plan in the Asiatic market with which they predict to launch five hundred stores in a period of five years.
Nowadays, the Japanese chain owns a sales network integrated by 257 stores, out of which 115 are in its local market and the rest are spread around ten countries from the continent. Owndays, which was born in 2013, will still be managed by the current executive team. L Catterton has realised this operation through L Catterton Asia.
L Catterton has done the operation through its Asiatic subsidiary
L Catterton has already closed operations with companies operating in the optic Asiatic market. In 2017, the fund took a stake in the Korean company Gentle Monster.
Mitsui&Co is one of the biggest business conglomerates in Japan, with interests in different sectors like energy, machinery, chemical products, finances or textile. The corporation has invested in Owndays by means of its vehicle Mutsui&Co Principal Investments.