Kering Eyewear has signed an agreement to acquire Maui Jim.
Founded in 1987, Maui Jim is one of the world’s largest independently owned high-end eyewear brand with a leading position in North America. Maui Jim engineered the proprietary and patented revolutionary PolarizedPlus2 lens technology, which protects from intense glare and harmful UV while enhancing color naturally perceived by the eye.
Founded in 2014, Kering Eyewear reached more than €700m external revenues in 2021. The acquisition of Maui Jim marks a major milestone in its expansion strategy – coming just a few months after the acquisition of Lindberg. The company will grow Maui Jim’s geographical footprint and new customer base, with a focus on innovation and functionalities.
Roberto Vedovotto, president and CEO of Kering Eyewear, said: “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,” added Vedovotto
Walter Hester, CEO of Maui Jim, commented: “The combination of Kering Eyewear and Maui Jim is a once in a lifetime opportunity for both of our organisations and our Ohana members. Our companies share similar values, along with a strong commitment to our people and our customers, leading to a remarkable strategic fit. I am both humbled and excited that Maui Jim will join the Kering Eyewear family. We have proud pasts, and together will have an even brighter future.”
The transaction is subject to the clearance by the relevant competition authorities and is expected to be completed in the second half of 2022.