SATURDAYS closes seed funding from Alpha JWC, others to scale its eyewear brand in Indonesia
SATURDAYS, a D2C (direct-to-consumer) eyewear brand, announced today that it has raised undisclosed seed funding from VC firms JWC and Kynesis Group. Alto Partners also joined the round.
The company intends to use the new funding to expand its online and offline platforms across Indonesia, it said in a press statement.
SATURDAYS was co-founded in 2016 by CEO Rama Suparta and Andrew Kandolha to make designer-quality eyewear affordable for people. Its eyeglasses are made in-house with premium materials like Italian acetate and ultra-lightweight Japanese titanium for consumers in Asia.
Aside from having physical stores across Indonesia SATURDAYS also launched an app to make it easy for customers to try out eyewear virtually. The app will also include features such as vision test booking conducted by licensed opticians at home. Customers will also be able to pick a try-on date at home with 10 frames of their choice and a specialty coffee for free.
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“We also want to provide an unmatched experience for customers, who have been accustomed to shopping for eyewear in dull, conventional manners. We will keep innovating our products and services to become the dominant market leader in Indonesia,” added Suparta.
The brand currently operates eight stores in the Greater Jakarta Area and had managed to add three more stores to its list of stores despite the pandemic.
SATURDAYS is one of the latest non-tech companies that Alpha JWC Ventures have invested in. In the past, the firm has been investing in non-tech companies that are undergoing a digital transformation by combining offline presence with digital tech.
Examples of such companies in Alpha JWC’s portfolio include Kopi Kenangan, Goola, and Bobobox.
According to BlueWeave Consulting, the Asia Pacific Eyewear Market is expected to be USD$114.4 billion by 2026 from USD 63.8 billion in 2019, at a CAGR of 8.7 per cent from 2020 to 2026.
Image Credit: Axle Adamos
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