Barton Perreira sun shades are displayed throughout ‘A Good Time At Goodman’s’ held at Goodman’s Men’s Store in New York City.
Astrid Stawiarz | Getty Images
LVMH is shopping for luxury eyewear brand Barton Perreira, famed for making James Bond’s shades, as it faucets into the fast-growing designer sunglass market.
LVMH’s Thelios eyewear division agreed to purchase the Irvine, Calif.-based Barton Perreira for an undisclosed sum. The deal is Thelio’s second massive acquisition in two months, after it purchased French Alpine brand Vuarnet in September.
Luxury eyewear, which incorporates sun shades and optical eyewear, is rising quickly the world over. Luxury homes see eyewear as a lower-priced entry level to their manufacturers for youthful customers, and now make a wider array of fashionable, larger high quality frames. Sunglasses are rising in popularity in Asia, whereas demand for optical frames is rising as individuals spend extra time on their laptop and telephone screens, analysts say.
Global eyewear gross sales topped $107 billion in 2022, in accordance to EssilorLuxottica, with progress anticipated to be within the mid-single digits within the coming years.
“For the maisons of luxury, eyewear is in lots of circumstances the primary contact level with customers,” stated Alessandro Zanardo, CEO of Thelios. “There has additionally been a shift within the relevance of this class in the entire universe of the maisons. The product is not only one thing that’s made in a manufacturing unit, to put a brand on and promote. It is one thing that’s actually created and designed within the maison setting. The high quality is de facto rising so clients are creating a sensibility for what luxury eyewear is.”
The deal for Barton Perreira highlights the rising significance of eyewear for LVMH and the luxury business. LVMH launched Thelios in 2017 to produce eyewear for LVMH’s in-house manufacturers, together with Louis Vuitton, Celine, Loewe and Berluti. Zanardo stated that as Thelios developed its personal design, manufacturing and distribution experience, it determined to purchase exterior manufacturers that it may additional develop, beginning with Vuarnet.
Barton Perreira has a cult-like following amongst Hollywood stars and collectors of high-end sun shades and frames. Its fashions usually retail for $500 or $600, and its restricted version designs, made in small portions, are particularly coveted. Daniel Craig wore a pair of Barton Perreira “Joe” sun shades in “No Time to Die,” and Demi Lovato, Sandra Bullock and Ryan Gosling are additionally reported to be followers.
Zanardo stated Barton Perreira was a really perfect match for LVMH due to its dedication to high quality.
“Barton Perreira has a really robust founding precept, which is design and high quality with out compromise,” he stated.
Since Barton Perriera solely has a handful of shops within the U.S., LVMH can use its world attain to take the brand abroad, with higher distribution in Europe and Asia, Zanardo stated.
Barton Perreira was based in 2007 by Bill Barton and Patty Perreira, after they left Oliver Peoples when it was acquired by Oakley. Zanardo stated the 2 founders will keep on the firm after the acquisition and “make certain the DNA of the brand stays in tact.”
LVMH’s acquisition exhibits that regardless of a worldwide slowdown within the luxury enterprise, the corporate is in search of acquisition targets that match its long-term ambitions. LVMH’s inventory value is down 20% over the previous six months as its progress slows, particularly within the U.S. wine and spirits market. LVMH executives usually say downturns supply a chance to achieve market share and make acquisitions, as rivals minimize spending and valuations develop into extra engaging.
For now, Thelios stated it will focus extra on integrating Vuarnet, Barton Perreira and a just lately acquired manufacturing facility in Italy, moderately than making extra offers.
LVMH is shopping for luxury eyewear brand Barton Perreira, famed for making James Bond’s shades, as it faucets into the fast-growing designer sunglass market.
“This yr has been very intense for us,” Zanardo stated. “I feel this can be a second for us to give attention to what we’ve added to our group, and begin the trail collectively.”