Following the news of the acquisition of Maui Jim, Kering Eyewear's president and CEO Roberto Vedovotto outlined group strategies and discussed trends.
which will become the second proprietary brand after Lindberg, which was bought last year.
The transaction is expected to close in the second half of 2022, once it clears routine regulatory hurdles. Founded in 1987, Maui Jim is known for its PolarizedPlus2 lens technology, which protects from glare and UV rays while enhancing color naturally perceived by the eye. Last year, excluding sales to major international distributors and stores operated by the group’s brands, the Europe, Middle East and Africa region was once again Kering Eyewear’s main market, followed by the Americas. The proportion of revenue generated in the Asia Pacific region, including Japan, again fell slightly in 2021 due to the strong weight of travel retail in that region.
Sunglasses account for 55 percent of revenues and, conversely to some competitors, Kering Eyewear did not see a slowdown in this segment, Vedovotto said. To be sure, he did say that sales of prescription glasses were boosted by the effects of the pandemic, given the increased use of screen-based devices during lockdowns.