25 Jan Mondottica International
Drystone Strategy Partners provided commercial due diligence for Santander Corporate & Commercial’s funding provision to Mondottica International.
Business: Mondottica International
Sector: Branded Eyewear – Retail
Investor: Santander Corporate & Commercial
Funding size: £14.9m
Mondottica is a highly regarded designer and distributor of branded eyewear, which over the past 15 years has seen exceptional growth, signing deals with companies such as Hackett, Converse, Joules, Pepe Jeans, Cath Kidston and Ducati, and most recently with Sandro, Maje and Benetton. Mondottica’s global headquarters is in Hong Kong and the company has global offices and partnerships; including Paris, Barcelona, Tokyo, Delhi, Moscow, New York and Sydney – as well as the Nottingham head office and London design studio in the UK.
The funding provided by Santander will enable the company to expand its activity in the US and Europe and invest in the development, delivery and marketing of its portfolio. It will also facilitate a rollout of its luxury eyewear division, Brando, among opticians worldwide.
Drystone provided relationship opportunity assessment and commercial diligence. This included in-depth interviews across brands, supply chain and retail partners (in both the independent and multiples categories). The interviewees were spread across the UK, European and North American markets, thus generating useful operational insights. Priorities for expansion were also identified – crucial for this dynamic and ambitious business. Drystone delivered effectively to a very demanding scope and timetable.
This opportunity to work sensitively and discreetly with Mondottica involved fieldwork in France, Spain, the Netherlands and Italy. This work was built on Drystone’s long-established record in this and related sectors. Relevant projects have included working with ADA Pacific Direct, an anon. supplier to Bath & Body Works, Grohe, U-POL, Jeyes and Zip et al – across both international branded consumer and B2B / commercial markets.
The Drystone team was led by Director Robin Illingworth. For further information, or if you are working in a similar sector, please contact us:
Robin Illingworth; +44 (0) 7725 036 155, +44 (0) 020 7307 5917 robin@Drystonestrategy.co.uk