Ownday: Changing Eyewear Necessity to Fashion Accessory

Abstract

This is a case study on OWNDAYS Pte Ltd. Owndays is an optics shop established in 1989 in Japan. It was previously on the verge of bankruptcy due to humongous debts until Shuji Tanaka, the current president and CEO, decided to acquire it in 2008. Under Tanaka’s leadership, as of 2018, Owndays has successfully penetrated 11 Asian markets as of 2018 and they plan to open more than 500 stores across the Asia Pacific Region over the next 5 years. The factors behind the success of OWNDAYS are closely examined in this report alongside the major turning points. We also seek to identify potential difficulties OWNDAYS will face in the coming years and how they could potentially overcome them to be the leading company in the eyewear industry. The report aims to uncover the reasons for the unprecedented growth of OWNDAYS by focusing on the major turning points that were led by successful business strategies envisioned by Mr Tanaka and his team. A profound analysis of this case study gives companies a better understanding of both the optics industry and also helps companies better understand how to maneuver through an unpredictable, fast-paced realm of business. Awareness of the challenges and fundamental reasons for OWNDAYS’ success in surmounting these obstacles would provide great insight to namely failing companies seeking to revive their businesses.