A Partnership Deal to Accelerate Global Expansion

Star Vision, the operator of Korea’s leading colour contact lens brand OLENS, has forged a strategic partnership with leading global private markets manager CVC.

This bilateral deal was recently signed, where the existing investors PS Alliance and Pearl Investment have agreed to sell their entire 49% stake in Star Vision to CVC. The transaction values the company in the upper KRW 600 billion range. PS Alliance and Pearl Investment had initially purchased their stake from VIG Partners in June 2022.

Star Vision has demonstrated consistent growth both in Korea and overseas. In Korea, the company prioritizes sustainable growth by providing robust support for its franchisees instead of merely increasing the number of stores. This approach has fostered strong and sustainable relationships with franchise owners over the past 14 years, a strategy that will continue to solidify the company’s leading position in Korea.

Star Vision has also maintained strong growth in the overseas markets, entering the Japanese market in late 2022 and OLENS quickly becoming one of the top selling brands. The company operates over 400 outlets across Asia, including approximately 20 locations each in Hong Kong and Taiwan.

Star Vision chose CVC as the most suitable partner to support the company’s continued growth, expansion in the global market, and evolution into a leading global K-beauty and K-contact lens brand.