VSP Vision’s Acquisition of Marcolin Boosts Eyewear Industry Power
US eyewear giant VSP Vision completed the acquisition of Italian eyewear group Marcolin on December 23, 2025, from private equity firm PAI Partners and other minority shareholders. This deal solidifies VSP Vision’s position as a leading global player in the eyewear industry.
Michael Guyette, president and CEO of VSP Vision, highlighted the strategic importance of the acquisition, stating it’s “another important milestone in our 70-year history.” He emphasized the company’s commitment to providing increased value and a broader product offering to its members, customers, doctors within the VSP network, company-owned stores, and key partners. The integration of Marcolin’s strengths – its global brand portfolio, manufacturing expertise, and geographical reach – complements those of Marchon Eyewear, another VSP Vision subsidiary.
VSP Vision initially acquired Marchon Eyewear in 2008 for over $700 million. Marchon holds licenses for prominent US brands like Calvin Klein, Nike, and DKNY, alongside designer labels including Ferragamo, Paul Smith, and Victoria Beckham. The company intends to maintain the operational independence of both Marcolin and Marchon following the acquisition.
While the financial details of the Marcolin acquisition weren’t publicly disclosed, industry sources suggest VSP Vision paid in excess of 1 billion euros (approximately $1.2 billion) for the company. PAI Partners had been seeking a buyer for Marcolin since 2022, with several potential suitors considered, including EssilorLuxottica, Kering Eyewear, Safilo, FountainVest, and HAL Investments.
PAI Partners initially acquired a 78.39% stake in Marcolin in 2012 for approximately 207 million euros, purchasing the shares from the Marcolin family, the Della Valle brothers, and Antonio Abete. Marcolin distributes its products in over 125 countries and boasts a diverse portfolio of both proprietary and licensed brands.
Marcolin’s brand portfolio includes its own Web Eyewear and Ic! Berlin, as well as licensed brands such as Tom Ford (under a perpetual license), Guess, Adidas (Sport and Originals), Christian Louboutin, Max Mara, Zegna, GCDS, MAX&Co., MCM, Pucci, BMW, K-Way, Kenneth Cole, Abercrombie & Fitch, Hollister, Rag & Bone, Timberland, Gant, Harley-Davidson, Marciano, and Skechers.
Financially, Marcolin demonstrated positive momentum leading up to the acquisition. During the first nine months of 2025, the company reported revenues of 416.6 million euros, a 2.1% increase year-over-year. EMEA and the Americas were key markets, generating 218.6 million euros (+7.6%) and 142.7 million euros (-5.5%) in revenue, respectively. The Asian market also showed strong recovery in the third quarter. For the full year 2024, Marcolin’s total revenues reached 545.8 million euros, a decrease of 2.2% at current exchange rates. EBITDA for the first nine months of 2025 was 68.5 million euros, representing 16.4% of net sales.
