LVMH to take full of control of eyewear producer Thelios

Thelios, the eyewear company founded by LVMH in partnership with Marcolin in 2017, will now be under its full control.

The Paris-based luxury group bought the remaining 49 percent stake in the eyewear producer, which draws on Italian design and craftsmanship to manufacture the high-end glasses of its Maisons including Fendi, Givenchy, Celine and Dior.

Marcolin in turn will buy back the 10 percent stake LVMH acquired in its business when Thelios was founded in 2017, the companies said in a joint statement.

In times of flux and uncertainty, such as the pandemic, having full ownership of production capacity is why many brands and groups are investing in their own factories.