BUSINESS Kering Eyewear Acquires Danish Luxury Eyewear Brand Lindberg By Staff Thursday, July 8, 2021 12:33 PM PARIS, France and AARHUS, Denmark—Kering Eyewear and the Lindberg family have signed an agreement for Kering Eyewear to acquire 100 percent of the share capital of Lindberg, the family-owned Danish luxury eyewear brand. Optician Poul-Jørn Lindberg and his wife founded Lindberg in 1969 as an optical store, and their son Henrik then spearheaded its growth into a multinational company that focuses on design-oriented, high-end, lightweight and customizable eyewear with a specialization in titanium. Lindberg also specializes in made to order capabilities, offering customers the ability to create their own bespoke pair of Lindberg frames through an extended modular system which contains billions of combinations. Lindberg has developed patented manufacturing techniques and innovations as well, such as multi-adjustable and screwless frames that are key differentiating factors in the high-end eyewear market. The brand holds unique positioning in the luxury eyewear industry, resulting in a powerful combination of a sizeable and very profitable company with strong growth potential. The acquisition marks an important milestone in the expansion of Kering Eyewear, the company said in its announcement, adding that since its foundation in 2014, Kering has reached close to €600 million wholesale external revenues pre-COVID (FY2019). This acquisition aims to further reinforce Kering Eyewear as an important player in the luxury eyewear market segment, adding to its portfolio a complementary and proprietary brand. Both companies will be able to leverage on their respective strengths, with synergies in distribution and geographical reach. Roberto Vedovotto, president and CEO of Kering Eyewear, said: “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, said, “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.” Details of the transaction were not disclosed. The transaction is subject to the clearance by the relevant competition authorities and is expected to complete in the second half of 2021.