LONGARONE, Italy, April 24 (Reuters) - An eyewear manufacturing joint-venture between Dior-owner LVMH and Italy’s Marcolin could triple its current its production levels over time as its brand portfolio expands.
LVMH has followed in the steps of rival Kering which back in 2014 decided to bring its eyewear business in house to increase control and pocket profit margins till then left to licensees.
The Thelios joint-venture, of which LVMH owns 51 percent, could potentially boost production to 4.5 million pieces a year, three times its current levels, CEO Giovanni Zoppas said.
LVMH Managing Director Antonio Belloni said the group was determined to expand the joint-venture’s current portfolio comprising three brands. (Reporting by Riccardo Bastianello, writing by Valentina Za,)