Kering announces acquisition of eyewear brand Maui Jim

Following its recent acquisition of Lindberg, Kering Group has signed an agreement to add Hawaiian eyewear brand Maui Jim to its growing Eyewear portfolio.

According to Kering, the acquisition of a second proprietary brand represents a major milestone in Kering Eyewear's expansion strategy, as the group further reinforce its status in the high-end eyewear segment.

Founded in 1987, Maui Jim is the world’s largest independently owned high-end eyewear brand with a leading position in North America. The brand offers a broad spectrum of high-quality sun and optical frames, including its patented PolarizedPlus2 lens.

In a press release, Kering said its distribution networks and product offerings will contribute to amplifying the brand's growth potential and ability to gain new customers. The group added that the acquisition will aid Kering Eyewear in reaching revenues of a billion-euro mark on a full-year basis.

The transaction is subject to the clearance by the relevant competition authorities and is expected to be completed in the second half of 2022.

Roberto Vedovotto, President and CEO of Kering Eyewear, declared: "Maui Jim has a unique positioning in the market, with very high-end and technically innovative sunglasses that are beloved by its clientele, and we are delighted that the brand is joining Kering Eyewear’s exceptional portfolio. We see strong potential globally for Maui Jim, which will benefit from our expertise and worldwide network to extend its geographical footprint and build on its core values to attract new consumers.

"This second key acquisition is also a major step for Kering Eyewear, which has now become unparalleled in its market segment, further validating the strategy that laid behind its creation by Kering in 2014."

Walter Hester, CEO of Maui Jim added: "The combination of Kering Eyewear and Maui Jim is a once in a lifetime opportunity for both of our organisations and our Ohana members. Our companies share similar values, along with a strong commitment to our people and our customers, leading to a remarkable strategic fit. I am both humbled and excited that Maui Jim will join the Kering Eyewear family. We have proud pasts, and together will have an even brighter future."