Luxury group Kering has signed an agreement to acquire Hawaiian eyewear brand Maui Jim, adding it to its existing Kering Eyewear portfolio.
The independent sunglasses label already has a significant presence in North America and is further sold in more than 100 countries. Much of Maui Jim’s character lies within its Hawaiian heritage and use of innovative technology, including its patented PolarizedPlus2 lens, which protects from UV rays and enhances colour perception.
According to Kering, the acquisition plays an important role in its expansion strategy, as it looks to reinforce its status in the high-end eyewear segment.
Kering’s distribution networks and product offerings are part of the group's plan to grow the brand’s geographical footprint and gain new customers, with the group stating this acquisition will aid Kering Eyewear reach its billion-euro mark on a full-year basis.
“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,” said Roberto Vedototto, president and CEO of Kering Eyewear, in a release.
It follows the group’s first key acquisition of Lindberg, made only a few months ago, further validating Kering’s expansion strategy in the competitive market segment.
The transaction is expected to clear in the second half of 2022 by relevant competition authorities.