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LVMH-Marcolin Joint Venture Seeks to Add Brands, Triple Production

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They hope to produce 4.5M pieces a year.

Thelios, the joint venture between LVMH and Marcolin, could triple its output to 4.5 million pieces per year, Reuters reports.

The increase would occur over several years as Thelios adds brands to its portfolio, said Toni Belloni, managing director of LVMH. It’s currently producing Céline, Loewe and Fred.

Thelios this week inaugurated an 8,000-square-meter manufacturing facility, called Manifattura Thelios, in Longarone, Italy.

“With the Manifattura Thélios, we aim to anticipate the future while showcasing our long-standing expertise,” said Giovanni Zoppas, chairman and CEO of Thelios. “This project combines our taste for top quality products with our respect for a cultural heritage essential to the region.”

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Thelios employs 245 people, including 100 at the new plant, according to a press release.

France-based luxury goods conglomerate LVMH and Italy-based Marcolin control, respectively, 51 percent and 49 percent of the share capital of the JV. LVMH holds 10 percent of Marcolin.

Marcolin has stated that the joint venture has “the aim of becoming, in the future, the preferred partner of LVMH in the eyewear business.”

Read more at Reuters

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