French luxury group Kering buys sun lens maker Lenti from Italy's Safilo

Time of India

a day ago

HighlightsKering Eyewear has acquired Italian sunglass lens manufacturer Lenti from Safilo as part of its strategy to enhance supply chain control. Lenti, located in Bergamo and employing approximately 100 staff, specializes in moulding and surface treatments for sunglass lenses and other components. This acquisition follows Kering Eyewear's recent purchases of Visard and a minority stake in Mistral, highlighting its ongoing industrial development strategy.
Kering Eyewear
has agreed to buy Italian
sunglass lens maker
Lenti
from
Safilo
, the unit of French luxury group Kering said on Tuesday, as it pushes for greater control of its supply chain.
Headquartered in the northern city of Bergamo and with some 100 employees, Lenti specializes in moulding and surface treatments, including for sunglass lenses, visors and components for the lighting and automotive sectors.
Neither Kering Eyewear nor Safilo, which also sent out a statement on the deal, disclosed financial details of the sale.
Kering started its in-house
eyewear division
more than ten years ago, making glasses for its own labels such as Gucci, Saint Laurent and Balenciaga and other brands such as Cartier.
Revenues at the division rose 2% in the first quarter, outperforming the group overall, which was dragged down by a 25% drop in sales at Gucci.
Kering Eyewear said the deal is "another milestone" in its industrial development strategy. In April it signed an agreement to buy Visard and a minority stake in Mistral, two
Italian manufacturers
of sunglasses and optical frames.
Last month Italian eyewear maker Safilo, which produces sunglasses for brands such as Tommy Hilfiger, said it had renewed its supply agreement with Kering Eyewear until 2029.
Most of Safilo's production is based in China, while only 10% is from Italy, CEO Angelo Trocchia said in a conference call with analysts last month. Safilo sold a bigger plant in Italy in 2023.