MILAN — In a further sign that the doldrums for luxury spending might be starting to reverse, eyewear specialist Marcolin’s revenues and profitability advanced in the first nine months of the year.
The Longarone, Italy-based company posted net sales of 416.6 million euros in the period ended Sept. 30, up 2.1 percent at current exchange rates versus the first nine months of 2024. Revenues were up 3.8 percent in comparable terms.
This is likely the last financial reporting before the acquisition of Marcolin by Marchon’s parent company VSP Vision from PAI Partners, which is expected to be completed in the fourth quarter of 2025. The deal was revealed in September without disclosing the price, as reported.
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Revenue growth at Marcolin in the first nine months was mainly driven by the Europe, Middle East and Africa region, which saw a 7.6 percent jump in sales at current exchange rates to 218.6 million euros.
Meanwhile the Americas, which represent about 34 percent of Marcolin’s sales, slipped 5.5 percent to 142.7 million euros compared to the first nine months of 2024. In comparable terms the region inched down 1.5 percent, showing sequential improvement in the third quarter.
The Asian market also showed signs of progress, especially in the third quarter, Marcolin said. In the first nine months of 2025, the region slipped 4.6 percent at current exchange rates to 32.2 million euros.
The ongoing disruptions caused by geopolitical instability and shifting consumption patterns didn’t dent the eyewear player’s profitability, as it posted adjusted earnings before interest, taxes, depreciation and amortization of 68.5 million euros in the period, or 16.4 percent of sales, with an increase of 30 basis points versus a year earlier.
As of Sept. 30, the net adjusted financial position stood at 326.9 million euros, up 1.7 percent, or 5.6 million euros.
In the first nine months of 2025, the company revealed the renewals of key agreements with Max Mara, Guess, Adidas and Gant. As reported in May, it also inked a new four-year licensing agreement with Rag & Bone for the design, production and distribution of the brand’s new line of premium sun and optical glasses.
Other brands in Marcolin’s licensing portfolio include Tom Ford, Zegna, Christian Louboutin, MCM, Pucci, Timberland and K-Way, to name a few.
Marcolin’s nine-month performance reflects the eyewear sector’s ongoing resilience and ability to buck the downturn.
For context, last week Kering Eyewear posted a 6 percent increase in third-quarter organic sales, outperforming the French group’s luxury brands.
Earlier this month eyewear juggernaut EssilorLuxottica reported that revenues in the first nine months of 2025 were up 5.9 percent at current exchange rates to 20.89 billion euros. They jumped 8.8 percent at constant exchange rates.
Sales were up 6.7 percent in the third quarter, EssilorLuxottica said, to 6.86 billion euros, an 11.7 percent increase in comparable terms, driven by the EMEA and North America regions, direct-to-consumer business, as well as progress in the sunglasses, wearables and vision care segments. In the third quarter, EssilorLuxottica announced its latest acquisition in the latter space, taking over Ikerian AG, a health technology company specializing in AI and data management for eyecare, which operates under the RetinAI brand.