Kering Buys French Eyewear Manufacturer UNT — Retail Bum

Kering is looking to bolster its position in the luxury eyewear space with plans to acquire French manufacturer Usinage & Nouvelles Technologies (UNT).

The company operates a 3,000-square-meter facility in the Jura region of France, where it manufactures high-precision metal and mechanical components for luxury eyewear brands, including Kering.

“We are pleased to welcome UNT into the Kering Eyewear family. I truly admire the outstanding job that UNT has carried out so far and we are excited to embark on this new journey with a trusted and deeply valued partner,” said Roberto Vedovotto, president and CEO of Kering Eyewear.

“Being a long-term, high-quality supplier of Manufacture Kering Eyewear, this new acquisition represents the opportunity to create an integrated luxury eyewear platform with best-in-class manufacturing capabilities, facilities and talents, in addition to supporting and further elevating the Jura district.”

The deal marks the luxury house’s latest effort to have tighter control over the supply chain of its eyewear business. The company previously acquired Manufacture Cartier Lunettes in 2017 and bought a stake in Trent Industria Occhiali in 2019.

Today’s luxury eyewear industry is valued at $21.24 billion and is projected to grow annually by 1.88% to $23.31 billion in 2028. The sector is dominated mainly by EssilorLuxottica, which manufactures eyewear for brands such as Burberry, Chanel, Ray Ban and Versace.

Originally published at https://retailbum.com on March 15, 2023.