KERING/ Acquires US eyewear brand Maui Jim

Milan, March 14, 2022 (LF-MM) - Kering Eyewear has signed an agreement to acquire Maui Jim. (follows)

The transaction is subject to the clearance by the relevant competition authorities and is expected to be completed in the second half of 2022. Founded in 1987, Maui Jim is the world’s largest independently owned high-end eyewear brand with a leading position in North America, sold in more than 100 countries. .

Since its inception in 2014, Kering Eyewear has built an innovative business model that enabled the company to reach more than €700mln external revenues in FY2021. Through this combination, Kering Eyewear reaches new levels, with revenues materially ahead of the billion-euro mark on a full-year basis and profit margins further improving. 

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.” (Com/LF-MM)