IPO-bound Lenskart acquires 80% stake in Spanish eyewear brand Meller
Lenskart paid Rs 406.93 crores for the stake in Stellio Ventures, which owns the Meller brand.
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Indian multinational eyewear company Lenskart has acquired an 80 percent stake in Spanish fashion eyewear brand Meller through its Singapore based subsidiary.
This announcement is a part of a strategic expansion into Europe and GenZ focused product lines. Lenskart paid Rs 406.93 crores for the stake in Stellio Ventures, which owns the Meller brand.
Meller, a D2C brand selling fashion sunglasses and accessories, which operates a retail store in Barcelona, as per Lenskart, this acquisition will introduce a Gen-Z and millennial focused sub-brand in its portfolio, provide supply chai synergies, strengthen its global sunglasses offerings and further enhance social media and e-commerce reach.
This deal comes ahead of the eyewear retailer having filed the draft red herring prospectus with SEBI for public listing, through which the company’s plan is to raise Rs 2,150 crore in primary capital.
Reportedly, the total IPO size is expected to be in the range of Rs 7,500 - Rs 8,000 crores, which also includes a secondary share sale by investors like Softbank and Alpha Wave.
