French luxury house LVMH’s eyewear Thelios unit said on Tuesday it had acquired French high-end sunglass brand Vuarnet from NEO Investment Partners without disclosing any financial details.
The deal is the first brand acquisition for Thelios, which designs, produces and distributes sunglasses and optical frames for brands such as Dior, Fendi and Givenchy.
Thelios, which aims to “restore the brand’s former glory”, said that Vuarnet’s expertise in mineral lenses would help the group expand its know-how in this area.
By Elisa Anzolin; Editor: Cristina Carlevaro
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LVMH to Buy Marcolin’s 49 Percent Stake in Joint-Venture Thelios
France’s LVMH has reached an agreement with Italian group Marcolin to buy a 49 percent stake in Thelios, increasing its holding in the upscale Italian eyewear manufacturer for labels including Dior, Fendi and Celine.
