B2RLaw advises Kodano S.A. in a PLN 40 million investment by the Vinci Da Gama ASI fund

The Kodano Group, which sells optical products in Poland, has raised PLN 40 million from the Vinci Da Gama fund, managed by Vinci S.A. (from the Polish Development Fund S.A. group). The capital raised, will be used to intensify expansion in European markets and develop the laboratory where eyeglass lenses are manufactured.

Kodano is betting on an omnichannel strategy that includes the largest online contact lens and eyewear store in Poland and a network of 100 lenticular dispensers spread across the country. Given the growing demand for optical products, Kodano, which already has online sales in Romania, the Czech Republic, Slovakia, Hungary and Lithuania, plans to intensify its expansion efforts into European markets. To achieve this goal, the group has raised PLN 40 million from the Vinci Da Gama fund, managed by Vinci S.A., which specializes in investments in growing companies.

„We are very happy to have been able to support our long-time client, Kodano, in this investment. The investment entry of the Vinci fund means an acceleration of the already very dynamic development of the Kodano group in Poland and Central Europe” – advises Agnieszka Hajos-Iwańska (Advocate, Partner at B2RLaw).

“Most of the capital raised from Vinci will be used to develop our network of stores, both online and stationary, primarily abroad” – Matthew Matula, CEO of Kodano, adds.

“We decided to invest in a company in the optical market because of the attractiveness of the business plan presented by Kodano. We see Kodano as a growth company and one that is ready to further scale its business by expanding its network of stationary stores and expanding its online sales in European markets. Kodano’s mix of sales channels allows it to further optimize its sales activities and benefit from economies of scale, which in the long term should positively impact the company’s profitability. We expect that the invested capital will allow Kodano to grow at a rate faster than the market” explains Piotr Wolinski, CEO of Vinci.

The B2RLaw team was led by Agnieszka Hajos-Iwańska (Advocate, Partner), with the support of Magdalena Borychowska (Associate, Advocate Trainee) and Konrad Czernecki (Associate, Attorney-at-Law).

For this project, we worked with Pekao Investment Banking, Kodano’s financial advisor.