PARIS, FRANCE: Kering Eyewear, a global Luxury group that develops a series of famend Houses in Fashion, Leather Goods and Jewelry, has signed an settlement to acquire Maui Jim Inc., one of many world’s fastest-growing high-end eyewear companies.
Founded in 1987, Maui Jim is the world’s largest independently owned high-end eyewear mannequin with a number one place in North America.
Recognized for its excellent technicity and distinctive Hawaiian heritage that embodies the “Aloha Spirit”, Maui Jim is an genuine mannequin that offers a broad spectrum of high-quality solar and optical frames sold in additional than 100 countries.
Anchored in its tradition of innovation, Maui Jim engineered the proprietary and patented revolutionary PolarizedPlus2 lens technology which protects from intense glare and dangerous UV whereas enhancing color naturally perceived by the eye.
Since its inception in 2014, Kering Eyewear has constructed an innovative enterprise mannequin that enabled the corporate to attain greater than €700m exterior revenues in FY2021. The acquisition of Maui Jim represents a main milestone within the profitable expansion technique of Kering Eyewear.
Only a few months after the acquisition of Lindberg, Kering Eyewear will personal a second proprietary brand, reinforce its standing on the high-end eyewear segment and broaden its offer to cowl the full scope from functional to timeless and fashion luxurious products.
Their complementary distribution networks and product choices will contribute to amplify the expansion potential through the expansion of Maui Jim’s geographical footprint and the ability to gain new customers, extra focused on innovation and functionalities. Through this combination, Kering Eyewear reaches new levels, with revenues materially forward of the billion-euro mark on a full-year foundation and revenue margins additional improving.
Roberto Vedovotto, President and CEO of Kering Eyewear, declared: “Maui Jim has a distinctive positioning within the market, with very high-end and technically innovative sun shades that are beloved by its clientele, and we’re delighted that the mannequin is becoming a member of Kering Eyewear’s distinctive portfolio. We see strong potential globally for Maui Jim, which will revenue from our experience and worldwide community to increase its geographical footprint and construct on its core values to draw new consumers. This second key acquisition is additionally a main step for Kering Eyewear, which has now become unparalleled in its market segment, additional validating the technique that laid behind its creation by Kering in 2014.”
“The mixture of Kering Eyewear and Maui Jim is a as soon as in a lifetime alternative for each of our organizations and our Ohana members,” said Walter Hester, CEO of Maui Jim. “Our companies share similar values, collectively with a strong dedication to our people and our customers, resulting in a remarkable strategic fit. I am each humbled and excited that Maui Jim will join the Kering Eyewear family. We have proud pasts, and collectively will have an even brighter future.”
The transaction is topic to the clearance by the related competitors authorities and is anticipated to be accomplished within the second half of 2022.
www.keringeyewear.com