The operation confirms Thélios’ commitment to invest on “Made in Italy"

Longarone (BL), October 31, 2023 – Thélios, the eyewear company of the LVMH Group, announces that it has completed the procedure for the acquisition from Safilo Group of its Longarone (BL) manufacturing site and the integration of 247 employees into its own workforce. The operation, which will enable Thélios to further strengthen its leadership in the luxury eyewear sector, was made possible by the active collaboration with the Crisis Unit of the Veneto Region, the Trade Union Representatives, and the approval of the involved workers in the transaction.

The agreement with Safilo Group will allow Thélios to keep on with its growth and enable the realization of the projects foreseen in the industrial plan. Preserving the distinctive know-how of the Belluno district, Thélios will hereby expand the department dedicated to metalworking for the production of sunglasses and optical frames for the Maisons of the LVMH Group.

When fully operational, the Manifattura Thélios will employ 247 Safilo Group workers, in addition to its over 900 existing employees in Longarone. This new agreement, which follows the acquisition of Metallart in July 2022, confirms Thélios' willingness to continue investing in Made in Italy, one of the company's strategic assets.

"With this strategic operation for Thélios, LVMH further strengthens its presence in Italy by continuing to support the ecosystem of companies that contribute to the success of the Group. Our Maisons, which rely on Thélios for the creation of their eyewear collections, will be able to count on an excellent know-how for ever more unique products. Our Group joins Thélios in thanking the Italian authorities and all the parties involved for the continuous dialogue and frank discussion that have made it possible", declares Toni Belloni, Managing Director of LVMH Group.

“This acquisition is an important step for Thélios; it will allow us to internalize critical phases of eyewear production, guaranteeing us enhanced quality control, while confirming our desire to strengthen the excellent know-how present in the eyewear district through strategic investments. We are certain that this agreement will enable us to pursue our ambitions and to be at the forefront of metalworking", says Alessandro Zanardo, CEO of Thélios.