LVMH takes over the remaining Thélios eyewear joint venture

LVMH is not a company that shares its activities, especially if the company in question is doing well. Approximately five years after establishing the eyewear joint venture Thélios in collaboration with Italian eyewear Marcolin, it owns 51% of the capital and a luxury group has taken over the entire company. This means “fully integrated with LVMH”.

“Marcoline and LVMH today announced that LVMH has reached an agreement to purchase a 49% stake in Terios of Marcoline. Marcoline is 10 of LVMH of Marcoline that LVMH acquired when Terios was founded. % Will be repurchased separately. Without revealing the transaction price details, the message showed the French consensus around Bernard Arnault.

There is no doubt that Terios has significantly valued its value over the last five years. In Longarone, in the Belluno eyewear district of northern Italy, home to Marcolin, ultra-modern eyewear makers have already expanded their capacity at their second site since their opening in 2018. The third page is in progress. The company is currently leading the development, manufacture and sale of 11 eyewear collections.

LVMH founded its own eyewear company, Kering Eyewear, in 2014, following Kering’s footsteps in bringing a profitable, previously licensed eyewear business to the company and decided to rely on specialists. And I chose Marcolin as my partner. Five years later, after an “apprenticeship” in Italian eyewear, the group decided to go alone. As the company emphasized in a brief announcement, the deal “represents an opportunity for LVMH to further strengthen its presence in the eyewear industry by relying on Italian know-how,” while Marcolin “will make future strategic investments.” You can “pursue”. ..

The transaction may have been on the card for some time. Former Vice President of Terios, who ran Terios this spring, announced that he had left the company and believes he had fulfilled his mission by successfully launching a new eyewear maker. Said. He hasn’t been replaced yet, but after this latest surgery, the appointment of his successor should not be delayed.

The Terios was launched in 2017, and in the same year, it acquired Celine’s eyewear license, which Safiro has been holding since 2011. In 2019, the company ordered a large collection of optical and sunglasses from Dior and Dior. 23 years. Recently, the company has added Fendi and Givenchy to its eyewear portfolio. Currently, with the exception of Marc Jacobs, which operates until 2026, few LVMH-branded galaxy homes have eyewear licenses managed by Safiro.

In addition to the Celine, Dior, Fendi and Givenchy eyewear collections, Terios also owns eyewear licenses for brands such as Loewe, Stella McCartney, Kenzo, Fred, Berluti and Rimowa, as well as its own brand 9.81, which offers high-end products. increase. product. quality. High-tech, high-end eyewear, launched earlier this year and put on the market.

Post time: Jan-12-2022