Marcolin boosts presence in China with new subsidiary
Image: courtesy of Marcolin
Italian eyewear group Marcolin has opened its own subsidiary in Shanghai to strengthen its presence in China.
The addition of China means that Marcolin now operates 14 worldwide branches: in Europe (Benelux, DACH, France, Italy, Nordics, Spain, and the UK), Russia, the Americas (the US and Brazil), Asia (Hong Kong, Shanghai and Singapore) and Australia (Sydney), as well as two joint ventures in Mexico and the UAE.
Marcolin has been present in the Chinese market for seven years through a joint venture with Ginko Group, a longstanding operator in the local eyewear market, and the new subsidiary is in response to its corporate strategy to consolidate to a direct presence in key markets.
In a statement, Marcolin said that its Shanghai operations would allow it to “further enhance” the commercial presence in the country while also allowing it to “closely support” local stakeholders and improve and quicken responses to consumer needs.
Kevin Cheung, Marcolin head of Asia-Pacific (APAC), said: “China is likely to be one of the few major economies to expand in the near future. We are thrilled that our company decided to invest here, opening its own subsidiary even in this historical period.
“We look at 2021 and the years to come with optimism. The new branch will cover the whole of Mainland China, in conjunction with the other subsidiaries of the Asia Pacific Region: Hong Kong, Singapore and Sydney.”
The new subsidiary Marcolin adds will increase organic growth in the market and secure the supply chain while allowing it to market specific products to the region.
The new subsidiary office, at Plaza 66, in the Jing’an District, houses all corporate functions and departments, including HR, finance, design, sales, customer service, marketing and supply chain.