Kering Eyewear and the Lindberg family have signed an agreement for the acquisition by Kering Eyewear of 100% of the capital of LINDBERG.
Founded in 1969 in Denmark, with the opening of an optical store by Poul-Jørn Lindberg and his wife, LINDBERG has grown internationally under the leadership of their son Henrik. Today, the brand is known worldwide for its high-end optical frames with a unique design, ultra-light and customizable, with a specialization in titanium frames. LINDBERG has built its reputation on its tailor-made offer, adapted to the expectations of its customer’s thanks to an artisanal manufacture allowing billions of combinations and to a wide choice of materials ranging from titanium to acetate through buffalo horn, wood or precious metals. LINDBERG has developed innovative manufacturing processes and patented technologies, such as hypoallergenic frames, multi-adjustable, and with screw-free hinges, which are all distinctive elements of the brand. A true pioneer in its industry, LINDBERG benefits from a unique market positioning and combines significant size, high profitability and significant growth potential.
This acquisition marks a major step in the development of Kering Eyewear and fits perfectly into its strategy. Since its launch in 2014, Kering Eyewear has deployed an innovative business model allowing it to reach critical mass, with pre-Covid revenue of around 600 million euros in 2019 (sales to third-party distributors) . This operation will further strengthen Kering Eyewear’s positioning as a key player in the high-end eyewear segment, thanks to the addition of an own brand, with great legitimacy in optical frames, -to be unique and excellent customer service.
Their strong complementarity will allow LINDBERG and Kering Eyewear to build on their respective strengths throughout the value chain. Synergies in terms of distribution and geographic coverage, in particular, will help strengthen Kering Eyewear’s development potential and further increase its profitability.
Roberto Vedovotto Chairman and CEO of Kering Eyewear, said “We are very happy to welcome LINDBERG to the Kering Eyewear family. I have great respect and admiration for what Henrik Lindberg and his family have built over the years. over the past 35 years LINDBERG is synonymous with exceptional luxury in the eyewear market. The brand will perfectly complement the portfolio built by Kering Eyewear since 2014 while strengthening its positions with specialist distributors. We look forward to working with the LINDBERG teams soon and further increasing the brand awareness and geographic presence. “
Henrik Lindberg, Co founder and CEO of LINDBERG: We created our company 35 years ago in two rooms located at the back of our optical store, with the simple idea of bringing comfort and quality to the frames. Thanks to the commitment of our teams, we can now qualify ourselves, like Roberto Vedovotto, as manufacturers of “exceptional luxury eyewear”.
We share the same vision with Kering on the essential place of design in our business. This is why the Lindberg family is very happy to pass the torch to Kering Eyewear. We are convinced that within the Kering group, whose values and vision of excellence we share, and under the leadership of Roberto Vedovotto, LINDBERG will be able to reach new heights, while respecting its DNA ”
The transaction, subject to the approval of the relevant competition authorities, should be finalized in the second half of 2021.
A global luxury group, Kering manages the development of renowned Maisons in the world of fashion, leather goods, jewelry, and watchmaking 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 these Maisons to push their limits in terms of inventiveness while shaping the luxury world of tomorrow in a responsible manner and under the sign of sustainable development. Our philosophy is reflected in our signature “Empowering Imagination”. In 2020, Kering employed more than 38,000 people and generated sales of 13.1 billion euros.
About Kering Eyewear
Kering Eyewear is an entity of the Kering group, a global luxury group that brings together and grows a set of emblematic Maisons in Fashion, Leather Goods, Jewelry and Watchmaking. Kering Eyewear is now responsible for the design, development, and distribution of the Eyewear collections of a complete and balanced portfolio of 15 brands Gucci, Cartier, Saint Laurent, Bottega Ve neta, Balenciaga, Chloé, Alexander McQueen, Montblanc, Brioni, Dunhill , Boucheron, Pomellato, Alaïa, McQ and Puma.
Based in Denmark, LINDBERG is a family-owned company specializing in high-end spectacle frames with unique and distinctive designs. Handcrafted in high quality materials (buffalo horn, acetate, wood, precious metals), LINDBERG frames are distinguished by patented technological innovations, resistance and lightness. Each model is tailored to customer preferences and the finishes are done entirely by hand. LINDBERG employs around 750 people. His glasses, which have won 106 prestigious design awards, are sold in more than 100 countries.