Kering Eyewear to acquire Maui Jim from RLI for $1.6bn.

Kering Eyewear, a manufacturer and seller of luxury eye wear, agreed to acquire Maui Jim, a sunglasses brand, from RLI, a specialty property and casualty insurance firm, for $1.6bn. “Maui Jim has a unique positioning in the market, with very high-end and technically innovative sunglasses that are beloved by its clientele, and we are delighted that the brand is joining Kering Eyewear’s exceptional portfolio. We see strong potential globally for Maui Jim, which will benefit from our expertise and worldwide network to extend its geographical footprint and build on its core values to attract new consumers. This second key acquisition is also a major step for Kering Eyewear, which has now become unparalleled in its market segment, further validating the strategy that laid behind its creation by Kering in 2014," Roberto Vedovotto, Kering Eyewear President and CEO.