Kering Acquires Maui Jim Brand
Monday, March 14 2022 | 10 h 35 min | Acquisitions, News, Press Release
Kering Eyewear announced it has signed an agreement to acquire Maui Jim, Inc., the iconic sunwear and optical frame company founded in 1987.
Recognized for its distinctive Hawaiian heritage that embodies the “Aloha Spirit”, Maui Jim is an authentic brand that offers a broad spectrum of sun and optical frames sold in more than 100 countries.
The brand has a distinguished service reputation in Canada.
The acquisition of Maui Jim represents a major milestone in the expansion strategy of Kering Eyewear. Only a few months after the acquisition of Lindberg, Kering Eyewear will own a second proprietary brand, reinforce its status on the high-end eyewear segment and broaden its offer to cover the full scope from functional to fashion luxury products.
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.”
“The combination of Kering Eyewear and Maui Jim is a once in a lifetime opportunity for both of our organizations and our Ohana members,” said Walter Hester, CEO of Maui Jim.
The transaction is subject to the clearance by the relevant competition authorities and is expected to be completed in the second half of 2022.
Related Post: Kering acquires Lindberg
Click HERE for the full press release.