Thélios, the eyewear producer under the prestigious LVMH group, has recently entered into a compelling agreement to acquire the renowned US eyewear brand Barton Perreira, celebrated for its popularity among film and music stars.

 According to Thélios, the agreement has been formally signed, with the acquisition set to be completed in the coming weeks, as confirmed to AFP. Alessandro Zanardo, the CEO of Thélios, shared with WSJ that the Barton Perreira brand holds a prominent position and strong recognition within the United States. Zanardo further emphasized Thélios' belief in Barton Perreira's substantial potential for expansion.

WSJ, citing undisclosed sources, reported that the transaction is estimated to value the American eyewear brand, established in 2007, at around $80 million (roughly €75 million). However, Thélios declined to comment on these specific details or the financial aspects of the acquisition when approached by AFP.

Photo：us.fashionnetwork.com

Rituals unveils a new store at Ashford Designer Outlet, marking its presence in the shopping destination.

The Dutch luxury beauty and wellbeing brand Rituals expands its retail footprint in the UK by opening a new store at the Ashford Designer Outlet in Kent, which is operated by McArthurGlen.

 The brand said in September that it planned to open 25 new UK stores, with 10 of them debuting in 2023, and hopes it will have 80 stores in the country by the end of the year.

 In September, the brand announced its ambitious plan to launch 25 new stores in the UK, with 10 of them scheduled to debut in 2023. With a target in mind, Rituals aims to achieve a total of 80 stores in the country by the end of the year.

 With a current count of 68 stores across Britain and Ireland, Rituals recently unveiled its largest and most recent addition on London's iconic Oxford Street in September. The brand has also expanded its presence with new store openings at Atria Watford, Chelmsford Bond Street, and Glasgow's Silverburn mall.

Photo：us.fashionnetwork.com

L Catterton initiates recapitalization of Etro

During its ongoing renaissance following the acquisition by L Catterton a little over two years ago, Etro is positioned to gain from a boost of new financial resources through a recapitalization. L Catterton, the private equity fund co-founded by luxury conglomerate LVMH, which acquired a majority stake in the esteemed Italian luxury house in July 2021, will provide the financing for a €15 million capital increase.

Undoubtedly, throughout the last couple of years, the brand has experienced a notable organizational metamorphosis under the guidance of CEO Fabrizio Cardinali, with L Catterton primarily holding a 60% ownership stake and the Etro family retaining 40%. This transformation encompassed extensive process reengineering, strategic realignment, and the introduction of a fresh aesthetic vision led by Creative Director Marco De Vincenzo. The brand has dedicated significant efforts to refine its product offerings, cultivate its image, enhance digital engagement, and make substantial improvements to supply chain management and distribution networks. Moreover, the brand has successfully ventured into new market domains, marking a comprehensive evolution in its overall structure.

Roughly twelve months ago, Fabrizio Cardinali established an ambitious objective of attaining €500 million in the next five years. He expressed confidence in the attainability of this challenging goal, attributing it to the support of new shareholders, the brand's robust identity, and the implementation of a well-defined strategic plan.

Photo：us.fashionnetwork.com