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Fendi teams up with Thelios as LVMH focuses on eyewear

imageStock Markets19 minutes ago (Jul 01, 2021 11:32AM ET)

(C) Reuters. FILE PHOTO: Company stock price information, including that for LVMH Moet Hennessy Louis Vuitton SA, is displayed on screens as they hang above the Paris stock exchange, operated by Euronext NV, in La Defense business district in Paris, France, December 1

ROME (Reuters) – Fendi, part of France’s LVMH, said on Thursday it had struck a partnership deal with spectacle maker Thelios to create, produce and distribute the Italian fashion house’s eyewear collection.

Thelios is a joint venture between LVMH and Italian spectacle maker Marcolin, in which the luxury group holds a 51% stake.

The Autumn/Winter 2021 collection will be the first to be launched under the new partnership and will include both prescription and sun glasses, the two companies said in a joint press release.

“This collaboration is an important step for both (companies), which are joining forces to increase the appeal of Fendi eyewear and making it a leading brand in the luxury segment,” the statement added.

Part of the broader strategy by Paris-based LVMH to expand in eyewear, Thelios produces and distributes glasses for other brands in the group, including Dior, Stella McCartney and Kenzo.

The announcement comes the day after the end of Fendi’s licensing deal with Italy’s Safilo.

Safilo, the world’s second-biggest spectacle maker, has been hit by LVMH’s decision to end previous agreements between the two firms and set up the joint-venture with Marcolin.

Safilo, which earlier this week said it planned to raise up to 135 million euros ($160 million) by issuing new shares, lost the prestigious Dior licence at the start of the year.

($1 = 0.8429 euros)

Fendi teams up with Thelios as LVMH focuses on eyewear

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