French luxury group LVMH is acquiring Marcolin‘s 49 % stake in Thélios, thus getting full control of the eyewear group. This deal brings an end to the joint venture that the French and Italians set up in 2017.
Strengthening position within eyewear market
The transaction will mean the full integration of Thélios within the French luxury house. Meanwhile, Marcolin will buy back the 10 % stake that LVMH acquired in the Italian group when Thélios was founded. This way, LVMH can further strengthen its presence in the eyewear industry, while Marcolin can pursue future strategic investments, the two parties said in a joint statement.
Recently, rival Kering also strengthened its eyewear division by acquiring high-end Danish label Lindberg. The Gucci owner began building its own eyewear division in 2014, growing to sales of nearly 600 million euros five years later.
