The Munich-based company, an European leader in the eye care sector and a lens manufacturer, will be selling its eyewear department, comprising the house brand Rodenstock Eyeglasses and the particular license for sunglasses and prescription frames for Porsche Design.
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Financial terms of the deal, which is expected to be completed in the second quarter of next year, were not disclosed.
The transaction includes facilities and employees of the particular Rodenstock Sunglasses division, while the lens manufacturing business will remain part of the Rodenstock Group.
The acquisition is seen as instrumental in growing the scope plus footprint associated with De Rigo.
The company has been ramping up the licensing company recently and consolidating its premium plus luxury eyeglasses division, with the addition inside September of Roberto Cavalli to the portfolio, which includes Philipp Plein, Furla, Blumarine and Trussardi, to name a few, and soon Porsche Design.
Additionally, Rodenstock Eyewear’s footprint in central Europe and particularly Germany is usually viewed as an opportunity with regard to De Rigo to grow its presence within that market.
“I am proud to announce this agreement with Rodenstock, along with whom we share the particular values associated with operational excellence and a client- plus people-centric business, ” said Maurizio Dessolis, executive vice chairman of De Rigo. “We are delighted in order to complement our portfolio associated with premium products with the prestigious Rodenstock brands. …We are confident that building on our global platform and network all of us will be able to support the continued growth of the company and the brands. ”
Touting De Rigo’s know-how and distribution prowess, Anders Hedegaard, chief executive officer of Rodenstock, noted that the sunglasses specialist “will ensure business continuity for our eyewear company and we all look forward to our own continued collaboration. Due to their great deal associated with knowhow in the structures business plus excellent access to international markets De Rigo is ideally positioned to further drive the development of the eyewear business and strengthen its brands. ”