MILAN – Kering Eyewear is further expanding its industrial footprint.
On Tuesday, the Italian eyewear group said it is acquiring Italian manufacturer Lenti from Safilo.
Headquartered in Bergamo, Italy, Lenti has been part of Safilo‘s portfolio since 1996 and counts approximately 100 employees. The company is specialized in moulding and surface treatments to safeguard and improve vision in multiple application fields including sun lenses for eyewear, visors, and other protective components for lighting, and the automotive and motorcycle industries.
“We have appreciated the excellence of Lenti’s products for many years, and we are very proud to see it now joining Kering Eyewear, providing an additional area of expertise to our platform of best-in-class manufacturing skills, facilities, and, more than anything else, talents,” said Roberto Vedovotto, founder, president, and chief executive officer of Kering Eyewear.
Lenses by Lenti.
Financial details of the transaction, which allows Kering Eyewear to establish in-house capabilities for the development of innovative and high-performance Made in Italy sun lenses, were not provided.
The deal follows the partnership inked last month between Kering Eyewear and Google for the development of AI-powered glasses with Android XR, as reported.
Also, in April, Kering Eyewear inked an agreement to acquire Italian eyewear manufacturers Visard and Mistral.
Founded in 2014, Kering Eyewear was a pioneer in changing the business model for luxury groups in the eyewear category, straying from the well-trodden licensing business model. It has grown to produce and distribute collections for 14 brands, including Gucci, Cartier, Saint Laurent, Bottega Veneta, Balenciaga, Chloé, Alexander McQueen, Montblanc, Dunhill, Alaïa and Puma. It also owns the Lindberg, Maui Jim and Zeal Optics brands.
In 2024, Kering Eyewear reached revenues of 1.6 billion euros, a 6 percent increase on 2023 on a comparable basis. It reported recurring operating income of 277 million euros, and a margin of 17.5 percent on sales.
Publicly listed on the Italian Stock Exchange, Safilo Group’s portfolio encompasses home brands – Carrera, Polaroid, Smith, Blenders, Privé Revaux and Seventh Street, as well as the perpetual license Eyewear by David Beckham, and licenses for brands ranging from Etro and Isabel Marant to Marc Jacobs, Missoni, Moschino, and Tommy Hilfiger, among others. In mid-morning trading following the news of the sale, Safilo shares were up 3.1 percent at 93 euro cents.
In the three months ended March 31, Safilo registered a 3.1 percent increase in sales to 285.8 million euros, compared to 277.2 million euros in the same period last year.
