Press release: Kering Eyewear acquires the Danish Luxury Eyewear Brand Lindberg
July 08 2021 - 12:00PM
Press release: Kering Eyewear acquires the Danish Luxury Eyewear
Brand Lindberg
PRESS RELEASEJuly 8, 2021 |
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KERING EYEWEAR ACQUIRES THE
DANISH LUXURY
EYEWEAR BRAND LINDBERG
A family-owned
Danish eyewear
company, renowned and awarded for
its exceptional titanium
optical frames,
design, innovative and patented
technology and impeccable
craftsmanship
A brand
with a unique positioning and
solid growth
prospects
Fully complementary with
Kering Eyewear
Kering Eyewear and the Lindberg family have
signed an agreement for Kering Eyewear to acquire 100% of the share
capital of LINDBERG.
Founded in 1969 in Denmark by optician Poul-Jørn
Lindberg and his wife as an optical store and turned into a
multinational company by their son Henrik, LINDBERG is a high-end
manufacturer of design-oriented, lightweight, and customizable
optical frames with a specialization in titanium. The company’s
reputation has been built on its made-to-order capabilities,
offering customers the possibility to create their very own bespoke
pair of LINDBERG glasses through an extended modular system which
contains billions of combinations, in a wide array of materials
from titanium to acetate, buffalo horn, wood or precious metals.
LINDBERG has developed and patented manufacturing techniques and
innovations such as hypoallergenic, multi-adjustable and screwless
frames that are key differentiating factors in the high-end eyewear
market. As a pioneer, LINDBERG holds a unique positioning in the
luxury eyewear industry, resulting in a powerful combination of a
sizeable and very profitable company with strong growth
potential.
This acquisition is an important milestone in
the successful expansion of Kering Eyewear and perfectly fits with
its development strategy. Since its start in 2014, Kering Eyewear
has built an innovative business model that enabled the company to
reach a critical size in the market with close to €600 million
wholesale external revenues pre-Covid (FY2019). This acquisition
will further reinforce Kering Eyewear as the most relevant player
in the luxury eyewear market segment, adding to its portfolio a
complementary and proprietary brand with strong legitimacy,
undisputed know-how and best-in-class customer service in optical
frames. Thanks to their business complementarities, both companies
will be able to leverage on their respective strengths across the
value chain, with synergies in distribution and geographical reach
notably. This will contribute to accelerate the growth and enhance
the profitability of Kering Eyewear.
Roberto Vedovotto, President and CEO of Kering
Eyewear, declared: “We are thrilled to welcome LINDBERG into the
Kering Eyewear family. I have the highest respect and admiration
for what Henrik Lindberg and his family have built over the past 35
years. LINDBERG is the absolute luxury eyewear and it will come as
a perfect complement to the brand portfolio that Kering Eyewear has
been assembling since 2014, making it even more relevant to our
specialized distribution network. We look forward to working with
the LINDBERG teams to further increase their brand awareness and
amplify their international reach.”
Henrik Lindberg, Founder and CEO of LINDBERG:
“35 years ago we started our company in two small back rooms behind
our family optical store. With nothing more than the idea of
bringing unseen comfortability and quality to the eyewear business.
Thanks to a team of dedicated employees, we can now —in Roberto
Vedovotto’s own words— call ourselves makers of “absolute luxury
eyewear”. Kering and LINDBERG share a common philosophy that design
is ultimately about taking eyewear to an even higher level. That is
why the Lindberg family are extremely happy to be able to pass the
torch on to Kering Eyewear. Under Roberto Vedovotto’s leadership
and backed by the impressive values and high standards of the
Kering Group, I am convinced that the LINDBERG brand will be taken
to new heights and the key values and the unique DNA kept.”
The transaction is subject to the clearance by
the relevant competition authorities and is expected to complete in
the second half of 2021.
About Kering
A global Luxury group, Kering manages the
development of a series of renowned Houses in Fashion, Leather
Goods, Jewelry and Watches: Gucci, Saint Laurent, Bottega Veneta,
Balenciaga, Alexander McQueen, Brioni, Boucheron, Pomellato, DoDo,
Qeelin, Ulysse Nardin, Girard-Perregaux, as well as Kering Eyewear.
By placing creativity at the heart of its strategy, Kering enables
its Houses to set new limits in terms of their creative expression
while crafting tomorrow’s Luxury in a sustainable and responsible
way. We capture these beliefs in our signature: “Empowering
Imagination”. In 2020, Kering had over 38,000 employees and revenue
of €13.1 billion.
About Kering Eyewear
Kering Eyewear is part of the Kering Group, a
global Luxury group that develops an ensemble of luxury houses in
fashion, leather goods, jewellery and watches. Today, Kering
Eyewear designs, develops and distributes eyewear for a complete
and well-balanced portfolio of 15 brands: Gucci, Cartier, Saint
Laurent, Bottega Veneta, Balenciaga, Chloé, Alexander McQueen,
Montblanc, Brioni, Dunhill, Boucheron, Pomellato, Alaïa, McQ and
Puma.
About LINDBERG
LINDBERG is the embodiment of Danish design.
When wearing LINDBERG eyewear, you tell the world that you
subscribe to a different way of thinking and have a connoisseur’s
appreciation of exceptional design and high-quality materials.
LINDBERG has more than 750 employees handling all processes from
design over manufacturing to selling directly to high-end optical
stores in more than 100 countries. Over the years LINDBERG has been
awarded 106 prestigious design awards acknowledging our broad
selection of eyewear made in titanium, acetate, buffalo horn, wood
and precious metals.
Contacts |
Kering Eyewear |
Maira
Gazarin
+39
3387147082 maira.gazarin@kering.com |
Raffaella Sbano
Tamburrino +39
3389323305 raffaella.sbano@kering.com |
|
Kering - Press |
Emilie Gargatte
(HQ)
+33 (0)1 45 64 61
20 emilie.gargatte@kering.com |
Marie de Montreynaud
(HQ) +33 (0)1 45 64
62
53 marie.demontreynaud@kering.com |
Claudia Mora (Italy)
+39
3477939237 claudia.mora@kering.com |
|
Kering -
Analysts/Investors |
Claire
Roblet +33
(0)1 45 64 61
49 claire.roblet@kering.com |
Julien
Brosillon
+33 (0)1 45 64 62
30 julien.brosillon@kering.com |
|
- Press release - Kering Eyewear acquires Lindberg - 08 07
2021
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