MILAN – Marcolin Group has inked a joint venture agreement with the Rivoli Group.The Italian eyewear company said on Tuesday that it will own 51 percent of the business, which has been named Marcolin Middle East.Based in Dubai, Marcolin Middle East will distribute the eyewear collections of the brands in Marcolin’s portfolio, which include Tom Ford, Balenciaga, Ermenegildo Zegna, Emilio Pucci, Dsquared2, Montblanc, Tod’s and Diesel, among others.Marcolin Group’s chief executive officer Giovanni Zoppas in a statement said the Middle East represents “a key market for the luxury, fashion and diffusion brands in our portfolio and for the future of our company.”Marcolin's eyewear collections will be distributed in Rivoli EyeZone stores, in addition to department stores and select opticians.Founded in 1988, Rivoli Group, based in Dubai, operates in different product categories, such as watches and leather accessories, in addition to eyewear.Marcolin Group was founded by Giovanni Marcolin Coffen in 1961 in the Cadore eyewear district of Longarone, Italy. In 2012, the PAI Partners private equity company took control of Marcolin.Earlier this year, Marcolin announced another joint venture, with LVMH Moët Hennessy Louis Vuitton. As per the agreement, starting from 2018, Marcolin will design and manufacture the eyewear collections for Céline and Louis Vuitton. LVMH is to control 51 percent of the joint venture, plus take a 10 percent stake in Marcolin.
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