Leading Veneto-based eyewear company closes the fiscal year for the first time with triple-digit revenues. President Rinaldo Montalban: “Important milestone, growth continues to provide an even more comprehensive service.”
Susegana (TV), July 2024 – Visottica Group, the Veneto-based world’s leading manufacturer of eyewear components, closed its 2023 consolidated financial statements with sales of 106 million euros, up 8 percent from 98 million in 2022.
The result confirms the expansion phase that has characterized the Group headquartered in Susegana (TV) in recent years. Thanks to a policy of acquisitions of technologically complementary companies, along with organic business development, Visottica Group’s revenues were doubled compared to 2016, when it recorded a turnover of 54 million euros.
“Crossing the 100 million revenue threshold, for the first time in our history, is truly an important achievement and a source of pride for all the people who work in the company,” emphasizes Rinaldo Montalban, President of Visottica Group. 2024 will be a year of consolidation of the integration process of the companies acquired in previous years. We also continue on the path of business expansion and diversification, to offer an increasingly comprehensive service to our customers and partners, exploring new opportunities functional to our strategic development. Eyewear remains the core market in which we need to continue to grow and strengthen our leadership position, but we are also looking at developments in other markets.”
In FY2023, the Group allocated about 13 million euros for investments to support production, RD and extraordinary operations.
The gradual and constant expansion of the Visottica Group’s technological offering, thanks to recent acquisitions of companies specializing in different types of processing, has strengthened the hub of Made in Italy excellence created over time, a reality that today represents the global benchmark for cutting-edge capabilities and technologies even beyond the world of eyewear. The most recent operations concern the purchase – at the end of 2022 – of a majority stake in the Treviso-based company Ethos, which specializes in galvanic processing, and in April 2023 of Ideal Srl, active in the engineering and production of components for the eyewear sector based in Quero (BL).
Over the past five years, the Group’s global workforce has grown from 1080 to the current 1,300 employees, spread across eight production plants-six of which are in Italy and one in China for production destined for the Asian market-five sales offices and a trading company located in Hong Kong.
The company’s commitment to sustainability continues to grow: between the end of 2023 and the beginning of 2024, Visottica Group launched “The Visible Journey,” its first three-year Sustainability Plan, which identifies strategic areas, goals and actions aimed at enhancing the Group’s commitment to developing an economically, socially and environmentally responsible business throughout the value chain.
Founded in 1947, Visottica Group expresses a manufacturing culture based on the combination of a strong Italian heritage and a global approach, thanks to a continuous exchange of skills and know-how between the different offices located around the world. Research and development, design ingenuity, creativity, excellence, and attention to the environment are the values on which the Group’s activities revolve and which allow it to constantly propose advanced and innovative solutions, capable of guaranteeing very high performance in terms of durability, design, attention to every detail and customization.
