Christophe and Matthieu Beaud, co-owners and CEO and managing director, respectively, of Julbo, have announced an agreement for Peugeot Frères Industry to acquire a majority stake in the family eyewear company.
The Beaud family, unrelated to Jules Beaud, the founder of the company in 1888, acquired the business in the 1970s and, under their management, the Julbo brand has become one of the main players in the sports sunglasses’ segment through product innovation, strong investments in marketing and its own supply chain. The company also develops a range of ski goggles, helmets and prescription eyewear.
After turning to Asia to produce its frames in the 1980s, Julbo progressively relocated about 75 percent of its production in Europe, mainly at the factory acquired in Romania about twenty years ago. In 2015, the company invested in its own RX laboratory, located at its headquarters in Longchaumois in the French Jura, to supply its frames with prescription lenses.
In an interview with a French TV news channel a few years ago, Christophe Beaud said that the company focused very early on building the Julbo brand, allocating over 10 percent of revenues to marketing expenses. The strategy paid off as the brand awareness progressively increased in France and internationally, particularly among sports enthusiasts, through sponsoring prominent outdoor athletes such as skiers, cyclists, alpinists and sailors. Julbo currently endorses over 150 sportsmen and sportswomen, and the brand is also an official sponsor of the upcoming Paris 2024 Olympics.
Julbo did not disclose its turnover in recent years, but we estimate that annual sales should stand between €35 million and €40 million, with sunglasses accounting for roughly 60 percent of the total, followed by helmets and goggles (20 percent) and eyeglasses (10 percent). The company distributes its products both through sports shops and opticians, with the latter channel representing roughly 70 percent of the business.
Revenues have more than doubled in the last 15 years, driven by exports that account for approximately half of total sales. The company has switched to a direct distribution model for almost all its key European markets in the last few years, most recently in Spain and the Nordics. It also operates a subsidiary in the U.S. Overall, Julbo employs 200 people, mostly in Europe.
Peugeot Frères Industries is part of the larger Peugeot family group and is developing the Peugeot brand in product categories other than cars, for which it is globally known, focusing on daily life consumer goods such as kitchen and DIY tools with “a spirit of ingenuity” and an emphasis on design. Christian Peugeot, president of the company, said the acquisition would enable Julbo to further internationalize and accelerate product innovation and design. Christophe Beaud commented that Julbo was delighted to join a family group with a strong industrial legacy and common regional roots, as Peugeot was born in the nearby Franche-Comté region. The announcement reads that he will remain as the CEO and shareholder. According to French website Acuité, he will stay at the company’s helm for at least two years.
