Luxury eyewear brand Maui Jim has been acquired by Kering Eyewear.
This acquisition is deemed as a ‘major milestone’ in the company’s broader expansion strategy, which seeks to reinforce the label as a major high-end brand.
“Our companies share similar values, along with a strong commitment to our people and our customers, leading to a remarkable strategic fit,” said Walter Hester, CEO of Maui Jim.
The transaction may be completed in the second half of this year once it is approved by relevant competition authorities.
Roberto Vedovotto, president and CEO of Kering Eyewear said that Maui Jim has a ‘unique position’ in the market.
“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,” Vedovotto said.