Italian eyewear manufacturer Marcolin is preparing for a potential merger or sale as its fund owner, PAI Partners, seeks to divest from the company. In order to facilitate the sale, top managers at Marcolin have begun meeting with potential suitors and renewing key licensing agreements. The company, known for producing Tom Ford eyeglasses, secured a perpetual licensing accord with the U.S. brand last year. It has also recently renewed agreements with fashion brands such as Zegna, GCDS, and Pucci, while signing a new license agreement with luxury shoemaker Christian Louboutin.
PAI Partners, which currently holds a 78.5% stake in Marcolin, has enlisted the services of Goldman Sachs as an advisor for the sale. The fund initially acquired the eyewear manufacturer in 2012 and is now seeking to exit the investment. Despite the challenges posed by the COVID-19 pandemic, Marcolin reported positive revenue performance with a 3% increase to 422 million euros in the first nine months of last year. The company’s adjusted core profit also rose by 28% to 65 million euros.
Through renewing licensing agreements and exploring a potential sale or merger, Marcolin aims to attract interested buyers and ensure a smooth transition for the company. The involvement of Goldman Sachs as an advisor underscores the seriousness of Marcolin’s plans. The eyewear industry has experienced growth in recent years due to increased demand for luxury and designer eyeglasses. Marcolin’s strong reputation and successful partnerships with renowned fashion brands position it favorably in the market, making it an enticing investment opportunity for potential buyers.
While neither Marcolin nor PAI Partners have commented on the sale process, it is expected that further developments will emerge in the coming months. Marcolin will continue to focus on its production and expansion efforts while actively pursuing opportunities for a merger or sale. With its strong brand portfolio and positive financial performance, Marcolin is well-positioned to attract interest from investors looking to capitalize on the growing demand for luxury eyewear.