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Why LVMH is Leaning Into Eyewear
LVMH, a name synonymous with luxury, is making a bold move in the eyewear industry by ramping up its production capabilities and expanding its portfolio despite the current downturn in the luxury market. Recently, the company inaugurated a new production facility in Longarone, Italy, which seems to signal a determined strategy to catch future opportunities in the eyewear sector.
Progress and Resilience: A Growth Story
During the opening event for Thélios's new production site, CEO Alessandro Zanardo noted that the acquisition of the 20,000-square-meter facility—previously owned by Safilo—allowed them to integrate 247 employees almost immediately. "We called back all employees in the next six months," Zanardo stated. This agile approach is a testament to LVMH's commitment to maintaining production efficiency even amid industry challenges.
Longarone: The Silicon Valley of Eyewear
The location of the new plant in Longarone wasn’t just a coincidence; it’s a region known for its rich heritage in eyewear manufacturing. Being home to notable eyewear specialists, this area has earned its nickname as “the Silicon Valley of optics.” The company’s strategy fits seamlessly with its decision-making; Tony Belloni, president of LVMH Italy, emphasized that when one thinks of eyewear, one immediately thinks of this region.
Looking at the Future
The new plant marks the third facility for Thélios, initiated just after launching in 2017. “We’ve tripled sales in the last three to four years,” Belloni shared, underscoring their significant growth potential. With the upcoming introduction of brands like Tag Heuer and Bvlgari into their collection, the future seems bright.
Combining Traditional Craftsmanship with Modern Vision
What's unique about Thélios is its blend of traditional Italian craftsmanship with a contemporary business model. The company intends to innovate while respecting time-honored techniques in eyewear production. By embracing this balance, they not only pay homage to their artisanal roots but also create products that resonate with both luxury aficionados and modern consumers.
Building a Community
Thélios's rise isn’t just a business growth story; it is also an exercise in community building. By revitalizing the local workforce and enhancing the economy of Longarone, LVMH demonstrates how luxury brands can have a meaningful impact on their surroundings. This reflects an understanding that the community is an integral part of their success and offers a heartwarming narrative that embodies the spirit of collaboration.
As we witness LVMH continue to flourish in the eyewear sector, it’s clear that they are not just investing in a product, but they are also investing in people. Their compelling approach to luxury eyewear is a reminder of how innovation can live comfortably alongside tradition.
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