Company:Maui Jim

From HandWiki
Revision as of 20:42, 9 February 2024 by WikiEd2 (talk | contribs) (url)
(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Short description: Sunglasses company
Maui Jim
TypePrivately held company
IndustryFashion, manufacturing
FoundedLahaina, Hawaii, United States (1980)[1]
FounderJim Richards
Headquarters
Peoria, Illinois
,
United States
Key people
Walter Hester, CEO
Mike Dalton, President
ProductsSunglasses, eyewear, apparel
OwnerKering (2022-present)
Websitemauijim.com

Maui Jim is an American sunglasses manufacturer based in Peoria, Illinois.[2]

Founded in Lahaina, Hawaii, in 1980, the company designs, develops, and manufactures a wide variety of sunglasses marketed under the eponymous brand name. As of 2015, it was the third-largest producer of sunglasses in the world.[1]

In October 2022, Maui Jim was acquired by Kering.[3]

History

The company's roots began in 1980 when a fisherman began selling sunglasses on the beaches of Maui, Hawaii.[1][4] He was known as the original "Maui Jim".[1] Several years later, the company developed polarized sunglasses to protect eyes from glare and ultraviolet rays.

In 1991, Walter Hester, a boat captain, purchased the company and built the brand to what it is today.[4] He named the company Hester Enterprises, Inc.[5]

In 1994, Illinois-based RLI Vision became the mainland distributor for the company, then called Maui Jim Sunglasses.[1]

In 1996, Maui Jim Sunglasses bought RLI Vision from its parent company, Peoria, Illinois-based RLI Corp., and named the new combined entity Maui Jim Inc.[6] The transaction was structured such that RLI Corp became a major shareholder in Maui Jim, and the company moved its headquarters to Peoria.[4] The company kept an office in Maui.[7]

In 2004, the company opened a distribution center in Braunschweig, Germany, a location that eventually became its European headquarters.[8]

In June 2006, the company opened its first prescription lab in Peoria, IL.[9]

In 2011, the company bought Zeal Optics, a Boulder, Colorado-based designer and manufacturer of action-sport polarized goggles and sunglasses.[10][11]

By 2015, the company had approximately 500 employees.[1] Also in 2015, the company became the title sponsor of college basketball's Maui Invitational Tournament.[12]

In March 2018, the company started selling optical eyeglasses.[13] In July, the company opened its first prescription lab outside of Peoria, located at its European headquarters in Braunschweig.[8]

In March 2022, it was announced the company had been acquired by Kering Eyewear.[14] RLI sold their remaining shares in Maui Jim in 2022.[15][16][17][18][19] The acquisition was completed in October 2022.[20][21][22][23]

Products

As of 2016, the company sold 125 different styles of polarized sunglasses in over 100 countries.[24][25] In addition to their non-prescription sports and fashion sunglasses, Maui Jim also produces prescription lenses for their designs including progressive lenses.[4][13]

The company's glasses incorporate a patented polarization technology called PolarizedPlus2.[26]

Locations

Besides its Peoria headquarters, Maui Jim maintains an office and store front in Lahaina, Hawaii, a Canadian office in Mississauga, Ontario, and a European headquarters in Braunschweig, Germany.[7][8][27]

Sponsorships

The company sponsors college basketball's Maui Invitational Tournament, called the Maui Jim Maui Invitational.[12] The company also sponsors the Australian Sailing Team,[28] professional marathoner Meb Keflezighi, golfer Ernie Els, and kiteboarder Dave Shah, who are brand ambassadors.[29][30]

Maui Jim is also the official eyewear partner/sponsor to an American based Formula One team, Haas F1 Team. [31][32]

References

  1. ↑ 1.0 1.1 1.2 1.3 1.4 1.5 "Extra: For Maui Jim, one simple word says it all — aloha". 2015-09-23. https://www.pjstar.com/article/20150923/business/150929755. Retrieved 2018-10-10. 
  2. ↑ "Company Overview of RLI Vision Corp.". Bloomberg Businessweek. http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=21919643. Retrieved 2018-11-08. 
  3. ↑ "Kering Eyewear completes the acquisition of Maui Jim" (in en-US). GlobeNewswire. https://www.globenewswire.com/en/news-release/2022/10/03/2526493/0/en/Kering-Eyewear-completes-the-acquisition-of-Maui-Jim.html/. 
  4. ↑ 4.0 4.1 4.2 4.3 Jargon, Julie (2005-12-05). "Do baby boomers equal bright future?". Crain's Chicago Business. http://www.chicagobusiness.com/article/20051203/ISSUE01/100024932/do-baby-boomers-equal-bright-future. Retrieved 2018-11-08. 
  5. ↑ "Company Overview of Maui Jim, Inc.". https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapid=246821352. Retrieved 2018-11-08. 
  6. ↑ "Maui Jim buys RLI Vision". 1996-12-18. https://www.bizjournals.com/pacific/stories/1996/12/16/daily6.html. Retrieved 2018-11-08. 
  7. ↑ 7.0 7.1 "Maui Jim Sunglasses is passionate about giving back". 2014-01-23. http://www.lahainanews.com/page/content.detail/id/530127/Maui-Jim-Sunglasses-is-passionate-about-giving-back.html. Retrieved 2018-11-08. 
  8. ↑ 8.0 8.1 8.2 "Maui Jim acquires Zeal Optics". 2018-07-05. http://mobile.visionmonday.com/article/maui-jim-enhances-service-to-europe-with-new-lab-in-germany/. Retrieved 2018-11-08. 
  9. ↑ "Optical Lab Leaders: Tech Titan: Paul Ponder". https://opticallabproducts.com/optical-lab-leaders-tech-titan-paul-ponder/. Retrieved 2018-11-08. 
  10. ↑ "Sunday BIZ: Zeal President John Sanchez On Building An Uncommon Brand". 2012-11-24. https://www.adventuresportsnetwork.com/transworld-business/sunday-biz-zeals-presidents-strategy-for-building-an-uncommon-brand/. Retrieved 2018-11-08. 
  11. ↑ "Maui Jim Enhances Service to Europe With New Lab in Germany". 2011-05-06. https://www.snewsnet.com/news/maui-jim-acquires-zeal-optics. Retrieved 2018-11-08. 
  12. ↑ 12.0 12.1 Eleni Gill, Lorin (2015-03-11). "Maui Jim is title sponsor of Maui Invitational basketball tournament". American City Business Journals. http://www.bizjournals.com/pacific/news/2015/03/11/maui-jim-is-title-sponsor-of-maui-invitational.html. Retrieved 2018-11-08. 
  13. ↑ 13.0 13.1 "Cult sunglass brand Maui Jim gets into eyeglasses". 2015-03-11. https://www.fastcompany.com/40539142/cult-sunglass-brand-maui-jim-gets-into-eyeglasses. Retrieved 2018-11-08. 
  14. ↑ "Kering Eyewear acquires Hawaiian eyewear brand Maui Jim" (in en-GB). 2022-03-14. https://www.moodiedavittreport.com/kering-eyewear-acquires-hawaiian-eyewear-brand-maui-jim/. 
  15. ↑ "Share Purchase Agreement with Respect to Sale of Shares in Maui | RLI Corp. | Business Contracts | Justia". https://contracts.justia.com/companies/rli-corp-1134/contract/236340/. 
  16. ↑ "Item_101_MJ_Agreement". https://www.sec.gov/Archives/edgar/data/84246/000008424618000050/rli-20180815ex101d58dc2.htm. 
  17. ↑ "RLI REPORTS THIRD QUARTER 2023 RESULTS". https://www.sec.gov/Archives/edgar/data/84246/000155837023016626/rli-20231023xex99d1.htm. 
  18. ↑ "RLI sells stake in eyewear firm Maui Jim for $500mn" (in en). 2022-03-14. https://insuranceinsiderus.com/article/29u2oifdux3u1dpfxunls/rli-sells-stake-in-eyewear-firm-maui-jim-for-500mn. 
  19. ↑ "Rli Corp (RLI-N) Quote - Press Release" (in en-CA). The Globe and Mail. https://www.theglobeandmail.com/investing/markets/stocks/RLI/pressreleases/7593626/. 
  20. ↑ Spencer, Mimosa (2022-03-14). "Kering boosts eyewear division with Maui Jim label" (in en). Reuters. https://www.reuters.com/business/retail-consumer/kering-boosts-eyewear-division-with-maui-jim-label-2022-03-14/. 
  21. ↑ "Kering Eyewear Completes Acquisition of Maui Jim" (in en). http://www.visionmonday.com/business/article/kering-eyewear-completes-acquisition-of-maui-jim/. 
  22. ↑ "It’s Official: Maui Jim Acquired by Kering Eyewear" (in en-US). 2022-10-04. https://invisionmag.com/kering-eyewear-completes-the-acquisition-of-maui-jim/. 
  23. ↑ Young, Kimberley (2022-03-20). "Kering Eyewear acquires Maui Jim" (in en). https://www.aop.org.uk/ot/industry/eyewear-and-lenses/2022/03/20/kering-eyewear-acquires-maui-jim. 
  24. ↑ "Top Vendors in the Global Sunglasses Market". 2016-08-24. https://www.technavio.com/blog/top-vendors-global-sunglasses-market. Retrieved 2018-11-08. 
  25. ↑ "Tarter: Aloha spirit goes hand-in-hand with sales growth". 2015-03-13. http://www.eastpeoriatimescourier.com/article/20150313/business/150319594. Retrieved 2018-11-08. 
  26. ↑ "Maui Jim retains status as Best Sunglass Company". 2016-01-13. https://www.dfnionline.com/latest-news/events/maui-jim-retains-status-best-sunglass-company-13-01-2016/. Retrieved 2018-11-08. 
  27. ↑ "Maui Jim Canada, Inc". https://www.manta.com/ic/mt6t6w4/ca/maui-jim-canada-inc. Retrieved 2018-11-08. 
  28. ↑ "Partners". Australian Sailing. https://www.australiansailingteam.com.au/partners/. Retrieved 1 May 2020. 
  29. ↑ "Meb Keflezighi Is Running the NYC Marathon—But Will He Make a Run for the Tokyo Olympics?". 2018-10-08. https://www.runnersworld.com/news/a23610977/meb-keflezighi-nyc-marathon-olympic-team/. Retrieved 2018-11-08. 
  30. ↑ "Maui Jim". https://ernieels.com/sponsor-maui-jim/. Retrieved 2018-11-08. 
  31. ↑ "Official Eyewear Partner of Haas F1 Team". https://www.mauijim.com/MY/en_GB/haas-f1-team. Retrieved 2023-01-14. 
  32. ↑ "Haas F1 Maui Jim". https://www.haasf1team.com/partners/maui-jim/. Retrieved 2023-01-14. 

External links



Retrieved from "https://handwiki.org/wiki/index.php?title=Company:Maui_Jim&oldid=3484147"