Kering Eyewear Acquires Danish Luxury Eyewear Brand Lindberg
Friday, July 9 2021 | 14 h 27 min | Acquisitions, News, Press Release
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, LINDBERG is a high-end manufacturer of design-oriented, lightweight, and customizable optical frames with a specialization in titanium.
This acquisition is an important milestone in the successful expansion of Kering Eyewear. Since its start in 2014, Kering Eyewear has built an innovative business model that enabled the company to reach a critical size in the market with close to €600 million wholesale external revenues pre-Covid (FY2019). This acquisition will further reinforce Kering Eyewear as the most relevant player in the luxury eyewear market segment, adding to its portfolio a complementary and proprietary brand with strong legitimacy, undisputed know-how and best-in-class customer service in optical frames.
Roberto Vedovotto, President and CEO of Kering Eyewear, declared: “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. 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: “35 years ago we started our company in two small back rooms behind our family optical store. With nothing more than the idea of bringing unseen comfortability and quality to the eyewear business. Kering and LINDBERG share a common philosophy that design is ultimately about taking eyewear to an even higher level.”
The transaction is subject to the clearance by the relevant competition authorities and is expected to complete in the second half of 2021.
Click HERE for the full press release.
