(Reuters) – France’s LVMH has reached an agreement with Italian group Marcolin to buy a 49% stake in eyewear designer Thelios, the two companies said on Friday in a joint statement.
Separately, Marcolin will buy back the 10% stake LVMH acquired in the firm when Thelios was founded in 2017.
The integration of the joint-venture to LVMH represents an opportunity for the French luxury group to strengthen its presence in the eyewear industry, the companies added.
(Reporting by Juliette Portala; Editing by Benoit Van Overstraeten)
