LVMH MO╦T HENNESSY LOUIS VUITTON SE

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LVMH to buy Marcolin's 49% stake in joint-venture Thelios

12/10/2021 | 11:12am EDT
A detail of the facade of the Louis Vuitton store at Miami Design District, in Miami

Dec 10 (Reuters) - France's LVMH has reached an agreement with Italian group Marcolin to buy a 49% stake in Thelios, increasing its holding in the upscale Italian eyewear manufacturer for labels including Dior, Fendi and Celine.

Marcolin will also buy back the 10% stake LVMH acquired in the firm when Thelios was founded in 2017, the companies said in a joint statement.

The move reflects interest in European luxury companies in bulking up and tightnening their grip on production capacity, as business bounces back strongly from pandemic disruptions following a resumption in social activities.

French rival Kering also recently reinforced its eyewear business, announcing plans to purchase upscale Danish label Lindberg in July. The Gucci owner began building an in-house eyewear division in 2014, reaching almost 600 million euros ($678.42 million) in wholesale revenues in 2019. ($1 = 0.8844 euros) (Reporting by Juliette Portala and Mimosa Spencer; Editing by Benoit Van Overstraeten)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
KERING -1.50% 463.3 Real-time Quote.-33.46%
LVMH MOËT HENNESSY LOUIS VUITTON SE -1.97% 578.5 Real-time Quote.-18.83%
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Financials
Sales 2022 74 398 M 78 363 M 78 363 M
Net income 2022 13 882 M 14 622 M 14 622 M
Net Debt 2022 4 330 M 4 561 M 4 561 M
P/E ratio 2022 21,8x
Yield 2022 1,94%
Capitalization 297 B 312 B 313 B
EV / Sales 2022 4,05x
EV / Sales 2023 3,62x
Nbr of Employees 157 953
Free-Float 51,8%
Chart LVMH MO╦T HENNESSY LOUIS VUITTON SE
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LVMH MoŰt Hennessy Louis Vuitton SE Technical Analysis Chart | MC | FR0000121014 | MarketScreener
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Mean consensus BUY
Number of Analysts 30
Last Close Price 590,10 €
Average target price 799,25 €
Spread / Average Target 35,4%
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Managers and Directors
Bernard Arnault Chairman & Chief Executive Officer
Jean-Jacques Guiony Chief Financial Officer
Charles de Croisset Independent Director
Diego della Valle Independent Director
Yves-Thibault de Silguy Independent Director
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