HONG KONG— Marcolin SpA and Ginko Group, a longstanding operator in the Chinese eyewear market, have announced the incorporation of a joint venture for the Chinese market. The purpose of the deal, the companies said in a statement, is to improve the partners’ presence in mainland China and to expand and strengthen the development of direct distribution of Marcolin products in the region.

The new joint venture will be called Ginlin Optical Shanghai Ltd., owned on a 50/50 basis by Marcolin and the Ginko Group, based in Shanghai.

Marcolin’s CEO Giovanni Zoppas said, “I'm very proud and excited to enter into this joint venture. Ginko Group and Marcolin have a very complementary background and attitude: the two of us are longstanding in the industry and reliable partners for their respective clients. That's why I'm sure this joint venture will deliver extra value to the Chinese eyewear market.”

Ginko Group’s President Kuo Chou Tsai said, “Starting business in China since year 1992, Ginko Group has been conducting quality commodity, good service and innovation as the target of enterprises. It’s our honor to cooperate with Marcolin, a leading worldwide eyewear company, to provide suitable pattern and reasonable price commodity for our Chinese customers. We believe this joint venture will be a win-win cooperation and create successful benefit to both sides.”

Ginko Group is one of the largest eyewear companies in the Chinese-speaking world, a long term manufacturer and marketer of contact lenses, including the Hydron brand. It produces a range of eyecare related products including ordinary eyeglasses, sunglasses, contact lenses, eye drops, solutions and eyeglass cases. In Taiwan, Ginko Group has two listed companies and a total staff of more than 5,000 employees in Asia. In 2013, Group turnover amounted to $500 million and market capitalization is $2 billion, according to the joint statement.