Italian eyewear house Marcolin registered +17.3% year-on-year growth in net sales at current exchange rates (+15.2% constant) in the first three months of 2023.
Net sales amounted to €152.3 million (US$165 million) during the period, a strong performance after a year characterised by international geopolitical challenges and instability.
Across all geographic areas, the group’s performance improved, with significant growth in Asia (+134% at current exchange rates and +126% constant exchange rates), which it referred to as a “high potential” market.
EMEA (+15.5% in Q1 at current exchange rates and +15.6% at constant exchange rates) and Americas (+8.1% at current exchange rates and +3.5% at constant exchange rates) together account for about 90% of the group’s revenues.
Adjusted EBITDA jumped +30% to €23.7 million (US$25.7 million). It also recorded a positive trend in the adjusted EBITDA margin, reaching 15.5% of net sales.
The second quarter opened with news that the Marcolin licensing agreement for the Tom Ford brand will be substantially extended, following the recent full acquisition of the Tom Ford brand by The Estée Lauder Companies. Marcolin has manufactured and distributed the eyewear brand since 2005. ✈
