Kering Eyewear acquires Danish luxury eyewear brand Lindberg
Kering Eyewear and the Lindberg family have signed an agreement for Kering Eyewear to acquire 100% of the share capital of Lindberg.
Founded in 1969 in Denmark by optician Poul-Jørn Lindberg and his wife as an optical store and turned into a multinational company by their son Henrik, Lindberg is a high-end manufacturer of design-oriented, lightweight, and customisable optical frames with a specialisation in titanium.
The company’s reputation has been built on its made-to-order capabilities, offering customers the possibility to create their very own bespoke pair of Lindberg glasses through an extended modular system which contains billions of combinations, in a wide array of materials from titanium to acetate, buffalo horn, wood or precious metals.
This acquisition is an important milestone in the successful expansion of Kering Eyewear and fits with its development strategy. Since its launch in 2014, Kering Eyewear has built a business model that has enabled the company to reach close to €600 million wholesale external revenues pre-COVID (FY2019).
In a statement, it's suggested that "both companies will be able to leverage on their respective strengths across the value chain", with synergies in distribution and geographical reach.
Roberto Vedovotto, President and CEO of Kering Eyewear, said: “We are thrilled to welcome Lindberg into the Kering Eyewear family. I have the highest respect and admiration for what Henrik Lindberg and his family have built over the past 35 years. Lindberg is the absolute luxury eyewear and it will come as a perfect complement to the brand portfolio that Kering Eyewear has been assembling since 2014, making it even more relevant to our specialised distribution network. We look forward to working with the Lindberg teams to further increase their brand awareness and amplify their international reach.”
Henrik Lindberg, Founder and CEO of Lindberg, added: “Kering and Lindberg share a common philosophy that design is ultimately about taking eyewear to an even higher level. That is why the Lindberg family are extremely happy to be able to pass the torch on to Kering Eyewear. Under Roberto Vedovotto’s leadership and backed by the impressive values and high standards of the Kering Group, I am convinced that the Lindberg brand will be taken to new heights and the key values and the unique DNA kept.”
The transaction is subject to the clearance by the relevant competition authorities and is expected to complete in the second half of 2021.