Kering has announced the imminent acquisition of a 100% equity stake of UNT (Usinage & Nouvelles Technologies), specialized in the manufacture of components for luxury eyewear. The objective is to strengthen its leadership position in this market and to broaden its control of the supply chain.
The Kering group intends to strengthen its Eyewear division by achieving its objectives of competitiveness and productive development on international markets. To do so, the Pinault family's holding company has just announced the acquisition of 100% of the capital of UNT, a French company with workshops in the Jura region, specialized in the manufacture of specific components for high-end eyewear.
UNT is not the first company to join the prestigious supplier galaxy of French luxury giant Kering, as the holding company previously acquired Manufacture Kering Eyewear (formerly Manufacture Cartier Lunettes) in 2017, and took a stake in the Italian workshops of Trenti Industria Occhiali, located in the Venice region, in 2019. Now it's UNT's turn to see Kering enter into its capital after being one of its key suppliers for many years. An agreement between the two partners has just been signed, and the transaction is expected to take place between June 2023 and the end of the year. This acquisition is part of Kering Eyewear's strategy to strengthen its leadership position in the luxury eyewear market.
Last March, Kering Eyewear had already reinforced its offer with the acquisition of Maui Jim, an iconic American brand in the field, based in Illinois. Maui Jim, which has a market in about 20 countries, is reliant on high-performance products and advanced technological research, enabling Kering Eyewear to achieve a rapid increase in sales. In July 2019, the luxury group had bought Lindberg, a prestigious Danish fashion frame house. The acquisition of UNT is aimed at expanding control and command over the entire supply chain, a goal pursued by every brand in the group, across all businesses.
Kering Eyewear, founded in 2014, is witnessing steady sales growth and excellent financial results year on year. By 2021, it had recorded sales of 733 millions euros, but the eyewear division of the French luxury group topped the symbolic goal of the billion euro milestone last year, reaching 1.1 billion euros in sales.
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