Thélios to integrate into LVMH
LVMH will purchase the stake held by Marcolin in Thélios
13 December 2021
LVMH (Moët Hennessy Louis Vuitton) is set to fully integrate Thélios into its operations as the company plans to purchase Marcolin’s share in the eyewear business.
Thélios was formed following a joint-venture between LVMH and Marcolin in 2017.
Now the companies have reached an agreement through which LVMH will purchase the 49% stake held by Marcolin.
In a statement the two companies said: “Marcolin and LVMH have jointly decided to embark Thélios on the next stage of its development and become fully integrated within LVMH.”
Marcolin will buy back the 10% stake that LVMH acquired within Marcolin when the joint venture was formed.
The statement continued: “This 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.”
Thélios has made a number of key deals over the past year, beginning its partnership with Dior, launching its first independent eyewear brand and forming a long-term strategic partnership with Givenchy.