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Friday, March 1, 2024

Kering Eyewear completes the acquisition of UNT

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A unit of Kering, Kering Eyewear, announced on Friday that it has completed the acquisition of Usinage & Nouvelles Technologies (UNT). 

Kering Eyewear completes the acquisition of UNT. – Kering Eyewear

The luxury giant and Gucci owner first announced plans to acquire UNT, a maker of metal and mechanical components for luxury eyewear, in March. Under the terms, Kering Eyewear purchased 100% of UNT. The acquisition was finalized after receiving clearance from the relevant antitrust authorities. 

UNT will be the third factory controlled by Kering Eyewear. It joins the Manufacture Kering Eyewear, located on the outskirts of Paris in Sucy-en-Brie — formerly Manufacture Cartier Lunettes, acquired in 2017. 

It also joins Trenti Industria Occhiali, one of Kering Eyewear’s Italian suppliers, in which the company bought a stake of approximately 40% in 2019.

In April, Kering announced first quarter results where Kering Eyewear posted double-digit growth, progressing in all regions. In particular, between January and March 2023, Kering Eyewear generated a revenue of €433 million, up by 44% over Q1 2022. 

Kering Eyewear, which was founded in 2014 by Kering and CEO Roberto Vedovotto, currently manages the eyewear collections of 17 labels: Gucci, Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, MCQ, Boucheron and Pomellato, as well as Puma and various labels owned by the Swiss group Richemont (Cartier, Chloé, Montblanc, Dunhill and Alaïa). 

Most recently, the company also purchased a series of eyewear brands including the Danish luxury eyewear brand Lindberg in 2021 and U.S. brand Maui Jim, in 2022.

In three years, Kering Eyewear has doubled its revenue, from €596 million in 2019 to €1.11 billion in 2022.

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