20 March 2022
Kering Eyewear has signed an agreement to acquire the US sunglasses brand, Maui Jim.
Founded in 1987, Maui Jim is the world’s largest independently-owned and high-end eyewear brand, and offers a range of sun and optical frames sold in more than 100 countries.
Kering Eyewear suggested the acquisition of Maui Jim represents a “major milestone” in its expansion strategy, building on its acquisition of Lindberg, which completed in autumn 2021.
The complementary networks and products of the two brands will contribute to the potential for growth, Kering Eyewear noted, expanding Maui Jim’s geographical footprint and reaching new customers interested in innovation and function – with the Hawaiian inspired brand behind the proprietary and patented PolarizedPlus2 lens technology.
Welcoming the new brand to the portfolio, president and CEO of Kering Eyewear, Roberto Vedovotto, commented: “Maui Jim has a unique positioning in the market, with very high-end and technically innovative sunglasses that are beloved by its clientele.”
Walter Hester, CEO of Maui Jim, called the agreement a “once in a lifetime opportunity” for both organisations, outlining the shared values between the brands. Looking ahead, he said: “We have proud pasts, and together we will have an even brighter future.”
Vedovotto added that the second acquisition marks a “major step” for Kering Eyewear and validates the strategy laid out for the company from its creation in 2014.
Kering Eyewear reached more than €700m (approx. £590m) in external revenues in the 2021 financial year.
The transaction is subject to clearance by competition authorities. It is expected to be completed in the second half of 2022.
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