De Rigo buys Rodenstock’s eyewear division, confirms 2022 revenue guidance at over €450 million
Nicola Mira
Italian eyewear group De Rigo, one of the world’s leading specialists in the design, production and distribution of quality glasses, has inked a deal to buy outright the eyewear division of Rodenstock, Germany’s main producer of ophthalmic lenses and eyeglasses frames, and a world leader in the field of high-index progressive lenses.
The acquisition of Rodenstock Eyewear, for a sum that has not been disclosed, is part of De Rigo’s strategic plan to expand internationally and grow within the high-end glasses segment, and will be finalised towards the end of Q2 2023. A significant element of the deal is that the acquisition also includes the Rodenstock and Porsche Design
De Rigo, based in Longarone, within northern Italy’s eyewear district, intends to strengthen its distribution network in central Europe, and especially Germany, an area the group believes has major growth opportunities. De Rigo has been collaborating with Rodenstock for some time, and acquiring the latter’s eyewear division will enable the Italian group to ramp up its commercial capabilities, adding resources and skills as well as an extensive sales organisation in Germany and around the world. By adding Rodenstock and Porsche Design to its brand portfolio, De Rigo is also further diversifying its product range.
“We are confident that, building on our global platform and network, we will be able to support the continued growth of the business and its brands,” said Maurizio Dessolis, executive vice-chairman of De Rigo Vision S.p.A., cited in a press release. Anders Hedegaard, CEO of Rodenstock, said that De Rigo “will ensure continuity for our eyewear business,” adding that “thanks to their great know-how in the frames business and excellent access to international markets, De Rigo is ideally positioned to further drive the development of the eyewear business and strengthen its brands Rodenstock Eyewear and Porsche Design Eyewear.”
De Rigo closed fiscal 2021 with a consolidated revenue of €421.6 million, up 21.9% over the €345.8 million generated in 2020. At constant exchange rates, revenue instead grew by 24.6%. The markets that contributed the most to the group’s growth were the USA, Spain, Brazil, Italy, France, China and Turkey.
De Rigo has told FashionNetwork.com
De Rigo Vision owns the General Optica (Spain), Mais Optica (Portugal) and Opmar Optik (Turkey) retail chains, and holds a stake in UK chain BootsPoliceBlumarineChopardEscadaFilaFurlaGapJohn VarvatosJust CavalliLucky BrandMulberryNina RicciLorenzo SerafiniRoberto CavalliTrussardiTumiZadig & Voltaire
Rodenstock manufactures technologically advanced biometric ophthalmic lenses and other solutions for visual well-being. It was founded in Munich in 1877. The company currently operates 14 production sites in 13 countries, and has approximately 4,900 employees worldwide. It is present in 85 countries with commercial subsidiaries and distribution partners.
In fiscal 2021, the year Rodenstock was bought by investment funds owned by London-based private equity firm Apax Partners
