Luxury conglomerate LVMH has taken complete control of Thélios, its eyewear joint venture with Marcolin, by acquiring the remaining 49% stake from Marcolin. Thélios, which was established nearly five years ago, will now be fully integrated into LVMH. The financial details of the transaction have not been disclosed.

Since its founding in 2018, Thélios has experienced significant growth and is based in Longarone, Italy. The company has expanded its production capacity with a second site and is in discussions about a potential third site. Currently, Thélios manages the development, production, and distribution of 11 eyewear collections.

LVMH’s decision to acquire full ownership of Thélios follows in the footsteps of rival luxury conglomerate Kering, which launched its own eyewear business, Kering Eyewear, in 2014. Initially, LVMH partnered with Marcolin to support its entry into the eyewear industry, but the company now feels confident enough to operate independently. LVMH believes that the acquisition will enhance its presence in the sector while leveraging the expertise of Italian craftsmanship. Marcolin will have the opportunity to pursue future strategic investments.

Although the departure of Thélios’ former executive vice president earlier this year hinted at an impending change, the new announcement suggests that the transaction has been planned for some time. The appointment of a successor is expected to follow shortly.

Thélios has secured several important eyewear licenses since its launch. It acquired the Celine license from Safilo in 2017, followed by the Dior and Dior Men licenses in 2019. More recently, it has added Fendi and Givenchy to its portfolio. As a result, Safilo now manages only a few eyewear licenses within the LVMH brand portfolio, including that of Marc Jacobs, which will continue until 2026.

In addition to the licensed brands, Thélios also holds eyewear licenses for Loewe, Stella McCartney, Kenzo, Fred, Berluti, and Rimowa. The company also has its own brand, 9.81, which offers high-tech, high-end eyewear and was launched earlier this year.

With full ownership of Thélios, LVMH aims to further strengthen its position in the eyewear industry and capitalize on its expertise in Italian craftsmanship. As the luxury conglomerate continues to expand its brand portfolio, the eyewear sector remains a lucrative and important part of its strategy.

Links:
LVMH official website
Marcolin official website