Kering Eyewear has completed its acquisition of Hawaiian sunglasses brand Maui Jim. The luxury eyewear company now holds more than 90% of Maui Jim, with the remaining shares expected to be acquired by year-end. As a result, Maui Jim is now being consolidated into Kering accounts.
Maui Jim was founded in 1987 and prior to the deal was called the largest independently-owned high-end eyewear brand. The brand is known for its distinctive Hawaiian heritage and its use of innovative eyewear technologies. It offers a wide assortment of broad spectrum high-quality sunglasses and optical frames.
Notably, Maui Jim engineered the patented PolarizedPlus2 lens technology which protects the eyes from intense glare and harmful UV rays, while simultaneously enhancing colours.
According to Kering Eyewear, Maui Jim is a highly complementary addition to its portfolio. Through complementary distribution networks and product offerings, Kering Eyewear plans to drive growth and gain new customers by expanding Maui Jim’s retail footprint.
Kering Eyewear believes that the acquisition, and its wider growth strategy, will create positive returns. The company said that its revenues are materially ahead of the billion-Euro mark on a full-year basis, with profit margins continuing to show an upward trajectory.
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