Thélios, the eyewear unit of luxury goods group Moët Hennessy Louis Vuitton (LVMH), on Tuesday announced the acquisition of French brand Vuarnet from British investment fund NEO Investment Partners.
This is the first acquisition by Thélios, whose responsibilities have so far included the design, production and distribution of sunglasses and optical frames for the LVMH Group brands (Dior, Fendi, Celine, Givenchy, Loewe, Stella McCartney, Kenzo , Berluti and Fred). The purchase price was not communicated.
“Thanks to its unique positioning at the intersection of outdoor and fashion, Vuarnet will perfectly complement the portfolio of licensed LVMH houses,” Thélios said in a statement on Tuesday.
“Vuarnet is a legendary brand with a remarkable history that deserves to be preserved and continued”, Thélios CEO Alessandro Zanardo. “Their iconic design, their unrivaled expertise in the manufacture of mineral lenses and their recognized values of innovation, performance and elegance fit perfectly with our philosophy and our positioning.”
“This partnership guarantees Vuarnet access to Thélios’ resources, particularly in the areas of research and development and technical expertise. Vuarnet will also benefit from Thélios’ global presence, driving the brand’s expansion and growth.”
The Vuarnet brand was founded in 1957 by Roger Pouilloux, an optician, and Jean Vuarnet, a French alpine skier and 1960 Olympic gold medalist. (AFP)
This translated post previously appeared on FashinUnited.fr