Luxury goods group LVMH has struck an agreement with Marcolin to purchase the latter’s 49% stake in eyewear company Thélios.
Thélios was created in 2017 as a joint venture between LVMH and Marcolin. The company manufactures eyewear products for LVMH’s luxury brands.
Under the agreement, Marcolin will buy back 10% of the stake LVMH owns in Marcolin, which LVMH acquired during the founding of Thélios.
Thélios’ integration into LVMH’s organisation is a strategic move aimed at strengthening the French luxury company’s presence in the eyewear industry.
Marcolin said that divesting its stake in the joint venture will enable it to pursue other strategic investments.
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