Fendi collaborates with Thelios, LVMH focuses on glasses Reuters

ROME (Reuters)-Fendi, a subsidiary of France’s LVMH, said on Thursday that it has reached a cooperation agreement with eyewear manufacturer Thelios to create, produce and distribute the Italian fashion company’s eyewear collection.

Thelios is a joint venture between LVMH and Italian eyewear manufacturer Marcolin. The luxury goods group holds 51% of the shares.

The two companies stated in a joint press release that the 2021 autumn and winter series will be the first series launched under the new partnership and will include prescription glasses and sunglasses.

The statement added: “This cooperation is an important step for both parties (companies). They are working together to increase the attractiveness of Fendi glasses and make them a leading brand in the luxury goods sector.”

As part of Paris-based LVMH’s broader strategy to expand its eyewear business, Thelios produces and distributes eyewear for other brands within the group, including Dior, Stella McCartney and Kenzo.

The announcement was made the day after Fendi’s license agreement with Safilo, Italy ended.

Safilo, the world’s second-largest eyewear manufacturer, was hit by LVMH’s decision to terminate the agreement between the two companies and establish a joint venture with Marcolin.

Safilo said earlier this week that it planned to raise up to 135 million euros ($160 million) through the issuance of new shares, but lost its prestigious Dior license earlier this year.

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