LVMH has reached an agreement with the Italian luxury eyewear group Marcolin to acquire the latter’s 49% stake in Thélios.
The result of the collaboration between LVMH and Marcolin, Thélios has become one of the leading frame manufacturers with two production units producing 4.6 million eyeglasses in just four years. With this acquisition, LVMH strengthens its position in the optical market with a 49% stake, having already a participation in Dior and Fendi.
Marcolin will also buy back the 10% stake acquired by LVMH in the company when Thelios was created in 2017.
This transaction is intended to be a real opportunity for LVMH to further strengthen its presence in eyewear and benefit from Italian expertise in the field, and for Marcolin to pursue future strategic investments mit firma.
The trend in luxury seems to be towards eyewear. Indeed, LVMH’s rival, Kering, also recently announced its intention to buy the high-end Danish brand Lindberg in July. The brand began creating an eyewear division in-house in 2014, reaching nearly €600 million in revenue by 2019.
Read also > LVMH PARTNERS WITH SMX TO ENABLE FULL TRACEABILITY OF ITS RAW MATERIALS
Featured photo : © Getty Images
