The Hong Kong-based Mondottica International has changed ownership and is now controlled by a consortium comprising Capital Eyes Holding, Ross Holdings and Ferdinand Menrad. No financial details were released, but the tran partnersaction includes a substantial capital injection.
Capital Eyes Holding is an Asia-based investment company involved in eyewear manufacturing, Ross Holdings is a New Jersey-based investment company owned by Harvey Ross, the founder of Viva International Group and chairman of Mondottica USA, while Menrad is a German producer of frames and sunglasses. In late 2018, Menrad, which was Mondottica’s joint venture partner in Germany, bought half of the company and Mondottica’s founder, Michael Jardine, had indicated that the intention was that the German company would buy the rest of the capital. Jardine, who founded the company in 2000 and was chief executive until Jan. 1, 2020 when he was replaced by Tony Pessok, is no longer a shareholder.
In the wake of the ownership change, Mondottica USA has reshuffled its management team, appointing Phil Turnage as chief executive officer and Ken Liming as chief operating officer (COO). Turnage has held an executive role with Mondottica USA for the past five years. Between 1991 and 2009 he worked for Viva International, becoming vice president in charge of U.S. optical sales. Liming worked for 25 years at Viva International and was COO for the Americas of Kering Eyewear for three years from 2015 to 2018