Kering Eyewear Seals Acquisition of Italian Manufacturer Lenti

Kering is betting on the Italian optical industry. The optics division of the French luxury specialist has sealed the acquisition of Italian optics manufacturer Lenti, as part of its industrial development and market presence.

In a statement, the French luxury hólding has pointed out that the acquisition of Lenti represents "a milestone in the industrial development strategy", as well as "an opportunity" for Kering to "establish internal capabilities" to develop made-in-Italy eyewear.

Part of the Safilo universe since 1996, Lenti, based in Bergamo (Italy), has a staff of 100 employees. According to Roberto Vedevotto, CEO, founder and president of Kering Eyewear, Lenti's joining the French company "will provide more expertise" and "better manufacturing and facilities" to the group.

Kering expands its Italian portfolio and adds Lenti to the Visard and Mistral agreements.

In April, Kering, which operates Balenciaga, Gucci, Saint Laurent and Bottega Veneta, announced two strategic acquisition agreements with Visard and Mistral. Its collaboration with the Kering Eyewear division has been close for several years.

Founded in 2014, Kering Eyewear is a company owned by the French luxury group Kering specialized in the development, distribution and marketing of high-end optics. The company has a catalog of fourteen brands, including names of firms of the conglomerate led by François-Henri Pinault such as Gucci, Saint Laurent, Bottega Veneta, Balenciaga or Alexander McQueen; as well as independent firms or belonging to other groups such as Cartier, Chloé, Montblanc, Dunhill, Alaïa or Puma.

The French giant of the luxury sector, affected by the crisis facing the segment since the end of 2023, closed the first three months of the year with a drop in sales of 14%. The main reason for the decline was the performance of Gucci, which ended the period with a 24% drop in sales.

Kering closed the first quarter of the current financial year with sales of 3,885 million euros, compared to 4,504 million euros in the same period of 2024. Gucci, the company's sales driver, ended the period with sales of 1,571 million euros, compared to more than 2 billion euros in the first quarter of 2024.