British eyewear company Inspecs Group acquires rival Ego Eyewear
Inspecs Group, a UK-based eyewear company, has acquired Ego Eyewear Limited, a design and licensing company that utilizes third party eyewear manufacturers to manufacture premium fashion brands.
The company has purchased 100% of Ego Eyewear and its operating subsidiaries in Hong Kong and Sweden for an initial consideration of £6.175 million and a deferred consideration based partly based on performance over the coming three years.
Ego Eyewear is estimated to earn revenue of £8.9 million in 2021.
The company’s design house is based in Stockholm, Sweden. The eyewear company also has operations across London, Hong Kong, and Osaka.
Its licensed brands include Barbour, Viktor & Rolf, Liberty of London, Henry Lloyd and Joseph, Lyle & Scott, as well as Nordic brands — Ivana Helsinki, Valerie and Day.
Ego Eyewear’s primary distribution channel is via major optical chains. The eyewear company is operated by second generation eyewear veterans Ronald Gezang and Johanna Gezang.
Robin Totterman — CEO of Inspecs Group said: “We are pleased to bring Ego into the Inspecs Group to further develop our brand portfolio and add to our Scandinavian offering, where we believe there are considerable opportunities for us. We have known Ronald and Johanna for a number of years and watched as they have successfully developed Ego into a significant player in the Nordic region, Japan and the UK.
“Both parties were able to see the value that Inspecs brings to continued development of global sales. Ego’s design studio in Stockholm adds to our existing teams in the UK, Portugal, Hong Kong and New York.”
Recently, Inspecs Group acquired BoDe Design Vertriebs, a distributor of optical and sunglasses frames that primarily serves the German market.