EssilorLuxottica has looked at Marcolin, not seen as strategic, CEO says

Eyewear maker EssilorLuxottica has been involved in the sale process for its Italian competitor Marcolin, but it does not consider the asset as strategic, the group’s chief executive told shareholders on Tuesday.

“I don’t want to comment on Marcolin because it is an ongoing process,” EssilorLuxottica CEO Francesco Milleri said.

“We have been part of the discussion, we will see what happens but for us it is not strategic,” added Milleri, replying to a shareholder’s question during the group’s annual meeting in Paris, as confirmed by a company spokesperson.

Why is it important?

Marcolin’s main shareholder PAI Partners earlier this year hired Goldman Sachs to explore a merger or a sale. The sale process has drawn interest from big players such as Gucci-owner Kering and Ray-Ban parent EssilorLuxottica, sources told Reuters in April.

By the Numbers

Italy’s Marcolin reported a 26% jump in adjusted core profit for 2023 to 78 million euros ($84 million) last year. Sales rose 2% to 558 million euros.