Adlens to Form European Joint Venture With Mondottica
OXFORD, U.K.—Variable focus eyewear specialist
Adlens, based here, announced the formation of Adlens Europe, a joint venture with global eyewear distributor,
Mondottica. The two companies have approved a preliminary agreement with a formal joint venture agreement due to be finalized and approved by the end of 2012. The agreement will enable Adlens Europe to sell Adlens’ existing products including Hemisphere and Emergensee as well as all future products built on Adlens’ proprietary fluid-injection and Alvarez technology.
“Mondottica has an outstanding established reputation in the eyewear industry across the globe,” said Adlens CEO and executive chairman Michael C. Ferrara. “Together, we have agreed on a partnership and signing the Memorandum of Understanding is the first step toward establishing our joint venture. This strategic partnership will strengthen our position as we prepare to launch our products into the European market.”
Mondottica CEO Bernhard Nuesser commented, “We are delighted to be partnering with the market leader in variable focus eyewear. Adlens’ innovative range of products are already proving popular elsewhere, and we are looking forward to working with the talented Adlens team to create a strong proposition in European markets.”
The Adlens Europe executive management group will be made up of executives of Mondottica, under the direction of a board composed of an equal number of executives from both parties and responsible for all strategic decision making, the companies said.
To mark the start of the relationship, Adlens will join Mondottica’s booth at Silmo 2012 in Paris.
Mondottica designs and distributes eyewear products under exclusive license agreements. Headquartered in Hong Kong, the company has offices in London, Paris, Amsterdam, New York and Sydney as well as distribution channels in 60 countries.
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