MILAN – Marcolin closed the first three months of 2025 with a growth in margins and top line.
In the period ended March 31, adjusted earnings before interest, taxes, depreciation and amortization rose 2.3 percent to 26.3 million euros compared with the first quarter last year, representing a margin of 17.8 percent on sales.
Operating profit rose 2.6 percent to 19.6 million euros from 19.1 million euros, and net sales were up 1.2 percent to 147.3 million euros compared with 145.6 million euros in the same period last year. On a like-for-like basis, net sales increased by 2 percent.
The performance in Marcolin’s two main geographic areas in the first quarter was mixed. Sales in the Europe, Middle East and Africa region rose 8.3 percent to 79.2 million euros, while in the Americas, revenues decreased 3.7 percent to 50.1 million euros.
The Italian company produces eyewear collections for brands ranging from Zegna and Max Mara to MCM, Pucci, Guess, Timberland and Adidas Original, to name a few.
In 2023, Marcolin inked a perpetual license with Tom Ford as part of The Estée Lauder Cos.’ takeover of the brand’s business for about $2.3 billion. Last year, Marcolin renewed its licenses with Zegna, GCDS, Max&Co. and Skechers and, while Moncler signed with EssilorLuxottica, Marcolin added new agreements with Christian Louboutin, K-Way and Abercrombie & Fitch Co.
The premiere luxury priced collection, both sun and optical, for Louboutin was launched last month with a total of 25 styles— encompassing over 70 color stock keeping units— distributed across two releases for spring and summer 2025.
Teased with a soft launch in February with an initial 14 sun and seven optical styles, supported by an ad campaign around New York City, April saw the Loubishark sun capsule, directly inspired by the well-known Loubishark sneakers, debut with a full campaign rollout globally. The deal with Louboutin will run through 2029.
During the first three months of the year, Marcolin announced the early renewal until 2032 of its license agreement for the design, production and international distribution of Max Mara sunglasses and optical frames, confirming and further strengthening the partnership signed in 2020.
Max Mara eyewear by Marcolin.
courtesy of Marcolin
In an interview in March to comment on the company’s 2024 growth, chief executive officer Fabrizio Curci attributed this to the strategy embraced over the past four to five years of “rebuilding a portfolio of brands that would be balanced and consistent as much as possible, premium luxury and more accessible, allowing Marcolin to sell to all categories of consumers, business-to-business and business-to-consumer in all market conditions.”
Curci said he plans “to stay the course in 2025, there is no need to change our strategy. The dynamics will not be different from 2024 and if certain geopolitical situations will cool off, including concerns about the tariffs, we hope there will be more consumer confidence, but we don’t think there will be an overnight spike in the market.” At the same time, he expressed confidence in the resilience of the high-end range of the market.
As of March 31, the adjusted net financial position amounted to 336.5 million euros, an increase of 15.2 million euros compared to Dec. 31, 2024, due to the typical business seasonality in the first quarter.
