Thélios, the eyewear company of French luxury group LVMH, has announced its acquisition of Vuarnet from NEO Investment Partners, the U.K.-based investment fund that owned the brand since 2013. This marks the first brand acquisition by Thélios, whose portfolio included exclusively fashion brands from its parent company until now.
Thélios said that Vuarnet fitted perfectly into its portfolio of luxury brands with its positioning at the crossroads of sports and fashion. Founded in 1957 by optician Roger Pouilloux and French ski champion Jean Vuarnet, the brand became and remained very popular among outdoor enthusiasts until the early 1990s, notably in the USA. On the fashion side, Vuarnet also gained popularity through its presence in movies, including a 2015 James Bond movie in which Daniel Craig sported a pair of Glacier, one of the brand’s best-selling models. Thélios underlined that it has retained a strong community of brand loyalists, including numerous celebrities.
Another rationale behind the acquisition lies in the French brand’s expertise in mineral lenses, which are being produced directly at the company’s headquarters near Paris. Thélios said that this know-how would enable it to expand its expertise in this area, hinting at a possible roll-out of the technology into the collections of its licensed fashion brands.
Although very different in scale, Thélios’ investment in Vuarnet is reminiscent of the acquisition of Maui Jim and its know-how in polarized lenses by Kering Eyewear last year. While the share of mineral lenses in the overall eyewear market has become marginal, they remain an important feature in the premium sunglasses’ segment. According to various estimates, mineral lenses account for between 10 and 20 percent of the European sunglass market value.
Synergy effects are also expected for Vuarnet as, by integrating Thélios’ portfolio, the brand will naturally gain access to the group’s investing power, R&D capacities, technical expertise in eyewear frames and, very importantly, its global outreach. In its official announcement, Thélios stressed that it was aiming to “restore the brand’s former glory.”
