LVMH to Acquire Marcolin's Stake in Eyewear JV Thelios
December 10 2021 - 10:51AM
Dow Jones News
By Ed Frankl
LVMH Moet Hennessy Louis Vuitton SE said Friday that it has
agreed to buy out Marcolin SpA's 49% stake in their joint venture
eyewear company Thelios.
The French luxury major said it would fully integrate Thelios,
which the two companies created in 2017 as LVMH dipped its toe in
the eyewear market.
Separately, Marcolin will buy back the 10% stake LVMH owns in
Marcolin, which the Paris-based company acquired when Thelios was
founded.
No financial details were provided.
"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," LVMH said in a statement.
Write to Ed Frankl at edward.frankl@dowjones.com
(END) Dow Jones Newswires
December 10, 2021 10:36 ET (15:36 GMT)
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