Kering Eyewear to Acquire Hawaiian Brand Maui Jim
Featured Image: REUTERS
PARIS — Maui Jim, a Hawaiian company founded in 1987, has been sold to the French Kering luxury group. Maui Jim is the world’s largest independent sunglasses brand, rooted in exception design and industry-leading technology.
The company got its start selling sunglasses in Lahaina, Hawaii. They describe their philosophy as being inspired by “the beauty and culture of Maui, our mission is to spread aloha through vivid color, clarity, and detail…Maui Jim believes color and light are the keys to human experience. Our sunglasses show you its full spectrum, so you can see the world like you’ve never seen.”
The brand offers a broad spectrum of high-quality sunglasses as well as optical frames and business spans more than 100 countries. Additionally, Maui Jim has earned the Skin Care Foundation Seal of Recommendation as its technology is an effective UV filter for the eyes and the surrounding skin.
Of the acquisition, Roberto Vedovotto, President and CEO of Kering Eyewear, declared in a press release: “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.”
Kering Eyewear is a part of the Kering Group. This part of the luxury group designs, develops, and distributes eyewear for 16 brands, including Gucci, Cartier, Saint Laurent, Balenciaga, and others.
The mission of the group is to be the world leader in luxury and high-end eyewear, “developing a unique ‘ensemble’ of powerful brands”. Kering Eyewear aims to empower their brands to go beyond their limits and support their capacity to lead and innovate in an imaginative and sustainable matter.
The acquisition of Maui Jim will be cleared and completed in the second half of this year, according to the Kering Group. The goal of the acquisition is to amplify the growth potential through the expansion of Maui Jim, allowing Kering Eyewear to improve profit margins and push the group to reach annual eyewear revenues above 1 billion euros ($1.1 billion).
Walter Hester, the CEO of Maui Jim, commented, “The combination of Kering Eyewear and Maui Jim is a once in a lifetime opportunity for both of our organizations 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 fasts, and together will have an even brighter future.”