New Ownership at Mondottica Int'l and Mondottica USA

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NEW YORK and HONG KONG—Mondottica International Ltd., a Hong Kong based eyewear company, underwent changes in ownership on Oct. 8, 2020. The new Mondottica shareholders are Capital Eyes Holding and Ross Holdings LLC. The other substantial shareholder is Ferdinand Menrad GmbH. Michael Jardine, founder and long term CEO of Mondottica, stepped down as CEO at the end of last year and is no longer a shareholder, according to an announcement from the company. Menrad is a German-based optical company in the business of designing, manufacturing and wholesaling frames and sunglasses worldwide. Ross Holdings is a New Jersey-based investment company owned by industry veteran Harvey Ross , founder of Viva International Group. Capital Eyes Holding is a long established Asia-based investment company involved in high-end eyewear manufacturing and other accessories. The new ownership structure of Mondottica comes with a substantial capital injection/financial commitment of the above shareholders, the announcement said, which did not disclose other details of the transaction.

As Vision Monday previously reported last November, Menrad took a minority stake in the Mondottica International business.

The CEO of Mondottica International is Tony Pessok, based in London. He joined the Mondottica group Jan. 1, 2020.

In addition to the changes made in the international eyewear company, New Jersey-based Mondottica USA has restructured its leadership team. In conjunction with the recent ownership changes, chairman of Mondottica USA, Harvey Ross, has appointed industry veterans Phil Turnage as chief executive officer and Ken Liming as chief operating officer to oversee the transformation of Mondottica USA.

An announcement noted that Turnage has maintained an executive role with Mondottica USA over the last five years. Additionally, he held various leadership positions with Viva International Group for nearly 20 years.

Liming previously held similar roles at Kering Eyewear as chief operating officer - Americas and his efforts helped to establish Kering’s operations in the United States. He also held the position of senior vice president - operations for Marcolin USA and Viva International Group for 25 years.

“I am very happy and pleased to reimagine Mondottica USA and have installed two trusted veterans to make it happen, ” stated Ross. “Under new ownership and with our experienced team, Mondottica USA is on a fast track for growth.”

Turnage added, “We are elated that Ken has recently joined the executive team. He is a respected leader in the industry and a longtime colleague. Ken’s knowledge and efforts will surely drive Mondottica to the next level of success.”

Liming noted, “It’s an honor to be selected for this exciting opportunity to assist with the transition of Mondottica USA, and we look forward to meeting the expectations of our customers and the board of directors alike. I am excited to be working with Harvey, Phil, the existing Mondottica team of industry veterans as we build the company together.”

Established in 2010, Mondottica USA is based in Warren, N.J., and distributes fashion brands throughout the Americas. Collections include Anna Sui, Benetton, Bloom, Christian Lacroix, Ducati, Hackett, Joules, Karen Millen, Pepe Jeans, Sandro, and Scotch & Soda.