LVMH Moët Hennessy Louis Vuitton is buying Marcolin’s 49 percent stake in eyewear manufacturer Thélios.
Marcolin and LVMH created Thélios as a joint venture in 2017.
The new deal “represents an opportunity for LVMH to further strengthen its presence in the eyewear industry leveraging its Italian savoir-faire, and for Marcolin to pursue future strategic investments,” according to a press release.
Separately, Marcolin will buy back the 10 percent stake LVMH owns in Marcolin. LVMH acquired the stake when Thélios was founded.
WWD reports that Thélios produces for Berluti, Celine, Dior, Fendi, Fred, Kenzo, Loewe, Rimowa and Stella McCartney.
“The general consensus is that Thélios will gradually produce eyewear collections for most if not all the brands under the LVMH umbrella,” the publication explains.
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