Who owns Maui Jim
What is Maui Jim
Established in 1987 on the scenic shores of Hawaii, Maui Jim has grown to become the globe’s premier independent sunglasses brand. It is deeply entrenched in its commitment to outstanding design and cutting-edge technology, setting industry standards in the process. With a product range that exudes luxury and stands out from the crowd, Maui Jim presents a wealth of untapped opportunities for growth. Its offerings seamlessly complement Kering Eyewear’s existing portfolio, making it a perfect addition.
Who owns Maui Jim? Kering Eyewear Acquires Maui Jim
In a significant move that promises to reshape the landscape of the high-end eyewear industry, Kering Eyewear has announced its acquisition of Maui Jim, the world’s largest independently owned high-end eyewear brand. With its roots dating back to 1987, Maui Jim has established itself as a leader in North America, renowned not only for its exceptional technology but also for its deep connection to the Hawaiian heritage and the cherished “Aloha Spirit.”
Maui Jim’s story began in 1987 when it was founded in the picturesque landscapes of Hawaii. Over the years, the brand has evolved into the world’s most extensive independent high-end eyewear company, commanding a prominent position in the North American market. What sets Maui Jim apart is its unwavering commitment to cutting-edge design and technological innovation.
The brand is not only a pioneer in its industry but also takes pride in embracing its Hawaiian heritage, symbolizing the warm and welcoming “Aloha Spirit.” Maui Jim offers a wide range of premium sunglasses and optical frames, available in over 100 countries worldwide. At the heart of their success is the groundbreaking PolarizedPlus2® lens technology, a proprietary and patented innovation that not only shields the eyes from intense glare and harmful UV rays but also enhances the natural perception of colors.
Kering Eyewear, which commenced its journey in 2014, has developed an innovative business model that has led to external revenues surpassing €700 million in FY2021. The acquisition of Maui Jim marks a significant milestone in Kering Eyewear’s successful expansion strategy. Just months after acquiring Lindberg, Kering Eyewear is poised to own a second proprietary brand. This strategic move reinforces Kering Eyewear’s position in the high-end eyewear segment and broadens its product range, spanning from functional to timeless and fashion luxury eyewear.
The two companies’ distribution networks and product portfolios are highly complementary, offering a unique opportunity for growth. This merger will not only expand Maui Jim’s global footprint but also attract new customers who value innovation and functionality. With this integration, Kering Eyewear takes a monumental leap, with revenues projected to exceed the billion-euro threshold on a full-year basis and profit margins poised to improve.
Roberto Vedovotto, President and CEO of Kering Eyewear, expressed his enthusiasm, stating, “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.”
Walter Hester, CEO of Maui Jim, echoed this sentiment, saying, “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 pasts, and together will have an even brighter future.”
Ref : Keering
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