PARIS (Agefi-Dow Jones)–The luxury group Kering announced on Monday that its company Kering Eyewear had signed an agreement to acquire the American high-end eyewear manufacturer Maui Jim, without specifying the amount of the transaction which should be finalized in the second semester.
“Known for the very high technicality of its products and its distinctive Hawaiian heritage which makes it the embodiment of the ‘Aloha Spirit’, Maui Jim is an authentic brand which offers a wide range of high quality sunglasses and optical frames sold in more than 100 countries,” Kering said in a statement.
“The acquisition of Maui Jim is a major new step in its development strategy” of Kering Eyewear, “just a few months after the acquisition of Lindberg”, added the luxury group.
Founded in 2014, Kering Eyewear generated external revenue of 700 million euros in 2021. Thanks to the acquisition of Maui Jim, the company should reach “a new milestone” and “clearly exceed one billion euros in full-year turnover” and “further improve its profitability”, explained Kering.
-Dimitri Delmond, Agefi-Dow Jones; +33 (0)1 41 27 47 31; [email protected] ed: VLV
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March 14, 2022 03:53 ET (07:53 GMT)