October 2024
Case
HBS Case Collection

Kering Eyewear

By: Rohit Deshpandé, Dante Roscini and Elena Corsi

Format:Print
| Language:English
| Pages:22

Abstract

In June 2024, Roberto Vedovotto, CEO of Kering Eyewear, prepared to discuss the future of the recently acquired brands LINDBERG, a Danish optical eyewear brand, and Maui Jim, an American sunglasses brand. Vedovotto founded Kering Eyewear in 2014, convincing François-Henri Pinault to internalize eyewear production for Kering’s luxury brands like Gucci and Saint Laurent. Kering could in this way control design, quality, and distribution of its eyewear products. In the following years, following an agreement with the luxury group Richemont, which became a co-owner, Kering Eyewear also included four Richemont eyewear brands, among which the high-end one Cartier. By 2024, Kering Eyewear was the second-largest eyewear manufacturer, generating €1.5 billion in revenue. However, slowing growth in China’s luxury market was expected to impact sunglasses sales, which accounted for 70% of its business. Vedovotto now faced the challenge of managing and growing a portfolio of brands, which included house brands and eyewear-only brands.