Kering Eyewear acquires Visard and joins Mistral

Business

Kering Eyewear headquarters. Credits: Kering

French luxury goods group Kering SA is investing in its eyewear division. On Thursday, the group announced corresponding agreements with two Italian eyewear manufacturers.

According to the agreement, the subsidiary Kering Eyewear will acquire all shares in Visard Srl and a minority stake in Mistral Srl, founded as a spin-off from Visard in 1991. The agreement includes the option to fully acquire Mistral by 2030, the group stated. The transactions are subject to the usual antitrust approvals and are currently expected to be completed in the third quarter of this year.

Visard and Mistral are "long-standing strategic partners" of Kering Eyewear, according to a statement. The now agreed transactions will enable the company to "further strengthen its leading position in the design, development, and distribution of high-quality eyewear while simultaneously taking a step forward in its industrial development strategy."

Roberto Vedovotto, founder, president, and CEO of Kering Eyewear, explained the background to the investments. "Over the years, Visard, Mistral, and their respective founders have made an invaluable contribution to Kering Eyewear's success by bringing unparalleled quality and technical expertise to our company," he noted in a statement. "We are therefore proud to welcome Visard to Kering Eyewear and look forward to working with Mistral for the next phase of the company's development."

Kering Eyewear was founded in 2014. The company produces the eyewear collections of Kering Group luxury labels such as Gucci, Cartier, Saint Laurent, Bottega Veneta, Balenciaga, Chloé, and Alexander McQueen, as well as the German sporting goods retailer Puma. Kering Eyewear has also acquired the Lindberg, Maui Jim, and Zeal Optics brands over the past few years.

This article was translated to English using an AI tool.

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