Luxury conglomerate LVMH has recently acquired the remaining stake in its eyewear joint venture, Thélios, from Italian glasses maker Marcolin. This move will result in Thélios being fully integrated within LVMH, further strengthening LVMH’s presence in the eyewear industry. The financial details of the transaction have not been disclosed, but Thélios has experienced substantial growth since its establishment in 2018. It has expanded its production capacity with a second site and is currently in discussions for a potential third site. Thélios is responsible for the development, production, and distribution of 11 eyewear collections.
LVMH’s decision to acquire full ownership of Thélios follows a strategy employed by its rival, Kering, which established its own glasses business, Kering Eyewear, in 2014. This move allows luxury groups to leverage Italian craftsmanship and strengthen their position in the eyewear market. Marcolin, now free from its partnership with Thélios, has the opportunity to pursue future strategic investments.
The departure of Thélios’ former executive vice president earlier this year indicates that this acquisition has been in the works for some time. With the transaction completed, the appointment of a successor is expected in the near future.
Thélios has secured licensing deals with prestigious brands within the LVMH brand portfolio. It acquired the eyewear license for Celine in 2017, previously managed by Safilo, and also secured contracts for the optical and sunglasses collections of Dior and Dior Men, previously held by Safilo for 23 years. Thélios has recently added Fendi and Givenchy to its eyewear portfolio. Most LVMH-owned brands, except for Marc Jacobs, have shifted their eyewear licenses to Thélios.
In addition to these licensed brands, Thélios also holds eyewear licenses for Loewe, Stella McCartney, Kenzo, Fred, Berluti, and Rimowa. The company even launched its own brand, 9.81, which offers high-tech, high-end eyewear earlier this year.
This full acquisition of Thélios allows LVMH to solidify its position in the luxury eyewear market while expanding its portfolio of high-profile brand licenses.
Useful links:
1. Official website of LVMH
2. Official website of Thélios
