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Oakley acquires Oliver Peoples' eyewear brands

09
Feb '06
Accessories manufacturer Oakley Inc announced the acquisition of privately held Oliver Peoples Inc, one of the world's most recognized and most respected luxury eyewear companies, and its subsidiaries. As a result of the acquisition, Oakley has acquired Oliver Peoples' three eyewear brands: Oliver Peoples, Mosley Tribes, and the licensed Paul Smith eyewear brand.

"Oakley's core business is optics and this will be a focus of long-term strategy," said Scott Olivet, CEO, Oakley
Inc.

"While growing Oakley eyewear is first priority, also believe that can capitalize on complementary consumer and market segments with a multi-branding approach. This will enable us to leverage capabilities in optics, design, and manufacturing without compromising the Oakley brand's authenticity."

"The acquisition of Oliver Peoples, Mosley Tribes and the Paul Smith license is a tremendous start in the creation of a targeted portfolio of brands. Their position in the fashion eyewear market complements Oakley's leadership in sport performance and active eyewear," continued Olivet.

"The brands will access different consumers, distribution channels, and design inspiration while simultaneously benefiting from shared experience, capabilities, and resources."

"Oakley and Oliver Peoples are well-respected brands known for their long history of innovation, quality and consumer loyalty," said Cos Lykos, Vice President of business development, Oakley Inc. "This acquisition will improve Oakley, Inc's core sunglass and prescription eyewear market share and marks an important first step in our multi-branded optics business strategy."


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