Visottica Group: Closes 2023 with Revenue of 106 Million Euros
The Veneto-based company, a leader in the eyewear sector, ends the fiscal year for the first time with triple-digit revenues. President Rinaldo Montalban: "An important milestone, continuing growth to provide even more comprehensive service"
Visottica Group, a global leader in the production of eyewear components based in Veneto, closed the 2023 consolidated financial statements with a revenue of 106 million euros, an increase of 8% compared to 98 million in 2022.
The result confirms the expansion phase that has characterized the Group, headquartered in Susegana (TV), over the last few years. Thanks to a strategy of acquiring technologically complementary companies, along with organic business development, Visottica Group's revenues have doubled compared to 2016, when it recorded a turnover of 54 million euros.
"Exceeding the 100 million revenue threshold for the first time in our history is truly an important result and a source of pride for everyone working in the company," emphasizes Rinaldo Montalban, President of Visottica Group.
"2024 will be a year of consolidating the integration process of the companies acquired in previous years. We will also continue on the path of expansion and business diversification, to offer an increasingly comprehensive service to our customers and partners, exploring new opportunities functional to our strategic development. Eyewear remains the reference market where we must continue to grow and strengthen our leadership position, but we also look to developments in other markets."
During the 2023 fiscal year, the Group allocated approximately 13 million euros for investments supporting production, Research and Development, and extraordinary operations.
The progressive and constant expansion of Visottica Group's technological offerings, thanks to recent acquisitions of companies specialized in different types of processing, has strengthened the center of excellence of Made in Italy created over time, a reality that today represents a global reference point for cutting-edge capabilities and technologies beyond the eyewear world. The most recent operations involve the acquisition — at the end of 2022 — of the majority stake in the Treviso-based company Ethos, specialized 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).
In the last five years, the Group's global employees have grown from 1,080 to the current 1,300, distributed across eight production plants — six in Italy and one in China for production aimed at the Asian market — five sales offices, and a trading company located in Hong Kong.
The company's commitment to sustainability is also increasingly growing: between the end of 2023 and the beginning of 2024, Visottica Group launched "The Visible Journey," the first three-year Sustainability Plan, which identifies strategic areas, objectives, and actions aimed at enhancing the Group's commitment to developing a responsible business from an economic, social, and environmental perspective throughout the value chain.
