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Thursday, December 7, 2023

Marcolin Logs Robust First Half – WWD

MILAN – Italian eyewear firm Marcolin continues to report progress in earnings and revenues.

Within the first six months ended June 30, internet revenue soared greater than 76 p.c to fifteen.5 million euros, in comparison with 8.8 million euros in similar interval final 12 months.

Gross sales rose 8.8 p.c to 308.7 million euros in contrast 283.7 million euros in the identical interval final 12 months.

“The efficiency within the first semester confirms the solidity and the financial and monetary well being of the group,” mentioned chief govt officer Fabrizio Curci. “We’re rising within the excessive finish phase of the market the place Made in Italy is actually an essential driving pressure. Marcolin is an organization that goals to develop out there by way of the standard of its merchandise and its distribution. We’re centered on this and in the present day we begin to reap the outcomes.”

Within the first half, adjusted earnings earlier than curiosity, taxes, depreciation and amortization gained 26.4 p.c to 51.2 million euros with a 16.6 p.c margin on gross sales, in contrast with 40.5 million euros final 12 months.

Working revenue amounted to 39.2 million euros in contrast with 27.2 million euros in the identical interval final 12 months.

The corporate attributed the efficiency to the consolidation of the manufacturers in its portfolio, “the implementation of a digital transformation course of based mostly on the central position performed by the connection with clients in all its phases, and the continual push in the direction of effectivity in manufacturing and procurement.”

Final 12 months, Marcolin secured a perpetual license settlement for the manufacturing of Tom Ford’s eyewear collections, following the sale of the model to The Estée Lauder Cos. in November.

Along with Tom Ford, the corporate produces eyewear collections for manufacturers starting from Bally, Moncler and Max Mara to Tod’s, Pucci, Guess, Timberland and Adidas Unique, to call just a few. Proprietary manufacturers embrace Internet Eyewear.

Marcolin has been Tom Ford’s eyewear licensee since 2005.

Within the first half, Marcolin gross sales within the Asian market vaulted 125.4 p.c to 23.3 million euros, or 7.6 p.c of the overall. Revenues within the Europe, Center East and Africa area rose 8.7 p.c to 154.6 million euros, accounting for 50.1 p.c of complete gross sales.

Efficiency on the American continent was according to the primary half of 2022, edging down 0.4 p.c to 117.4 million euros, representing 41.6 p.c of the overall. Gross sales within the Remainder of the World space amounted to 13.3 million euros, up 0.7 p.c.

Within the second quarter, Marcolin revenues amounted to 156.4 million euros, up 1.6 p.c. Adjusted EBITDA totaled 27.6 million euros, in contrast with 22.3 million within the second quarter of 2022.

In March, Marcolin named Lara Marogna group model and product improvement director, reporting to Curci.

As reported, earlier this month, Marcolin mentioned it had accomplished the acquisition of its subsidiary in Mexico, shopping for the remaining 49 p.c of a three way partnership established in 2018. On the time, it teamed with its Mexican distributor Moendi.

The subsidiary is situated in Mexico Metropolis and the brand new improvement is in sync with the corporate’s technique to reinforce its presence in key markets.

Marcolin’s international community consists of 15 worldwide branches, in Europe (Benelux, DACH, France, Italy, Nordics, Spain, U.Okay.); Russia; the Americas (U.S., Brazil, México); Asia (Hong Kong, Shanghai, Singapore), and Australia (Sydney). It additionally has a three way partnership within the United Arab Emirates and distributes its merchandise in additional than 125 nations.

Main European non-public fairness agency PAI Companions acquired a majority stake in Marcolin in 2012 from plenty of buyers who included the Marcolin household and brothers Diego and Andrea Della Valle, and delisted the corporate. PAI’s imaginative and prescient is known to be long-term. Marcolin was based in 1961 and relies in Longarone, in Italy’s Veneto area, which is thought for being an eyewear manufacturing hub.

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