LONGARONE, Italy — “This is a win-win situation,” said Toni Belloni, president of LVMH Italy, at the inauguration on Thursday of the new industrial facility of eyewear firm Thélios.

Located in Longarone, in the heart of Italy’s eyewear manufacturing hub, the plant allows Thélios to “fully control a key technology for the sector, as well as quality and time-to-market,” chief executive officer Alessandro Zanardo said proudly.

This was achieved by acquiring a former Safilo plant and absorbing around 250 employees with experience in developing metal frames. This facility is located a few feet away from the Manifattura Thélios plant inaugurated in 2018 and dedicated to acetate frames.

“We used to buy the metallic components from local suppliers but when we felt we had the necessary maturity to add the different phases of development, we started thinking about setting up a new factory. Then this opportunity to have an integrated campus arose and rather than starting from scratch, we incorporated part of the Safilo workers who were already skilled in developing metal frames, allowing them to keep their jobs,” said Belloni — hence the win-win comment.

Seven years ago, Thélios was established “with a clear strategy, to create a pole of excellences as part of an ambitious and long-term, sustainable project,” Zanardo said. The unveiling of its new production facility in Longarone is a major step for the eyewear manufacturing group.

At the same time, Belloni noted that Thélios still works with around 200 factories and small companies in the territory. “In none of our sectors we have the ambition to do everything ourselves. Being exposed to change and different suppliers is a great source of innovation and technological know-how, also because these artisans have a great experience,” he said.

Thélios is controlled by LVMH Moët Hennessy Louis Vuitton and produces collections for Dior, Fendi, Celine, Givenchy, Loewe, Kenzo, Berluti, Bulgari, Tag Heuer, Fred and Stella McCartney. It also owns Vuarnet and Barton Perreira.

The business “is more consolidated now,” said Belloni, but the Thélios portfolio of brands “all have growth opportunities and this industrial structure and the progressive integration will allow us to grow in the next years.”

Belloni said 10 million euros were invested in the acquisition of the plant, which was restructured over the past 11 months, making it more functional and more modern, with greenery and convivial spaces. Machines and robots were acquired but the artisans remain fundamental, he remarked.

“Quality-control requires 400 to 500 checks by one person, so we are investing in digital technology that will simplify this job, but the artisan will always have the last word,” he said. “It’s appealing to see how the existing can be enhanced by innovation.”

Thélios now has 1,300 employees in Longarone.

Asked about an increased and potential shift into the ophthalmic, technical or medical segments, Zanardo said that, while the brands produced by Thélios were initially “more focused on sunglasses in an organic way given their fashion nature, and these continue to be very important, many maisons are now realizing the relevance of optical as a representation of their creative universe.” In addition to being more necessary as the population ages and is exposed to digital devices, ophthalmic glasses are becoming more fashionable as customers often have two or three pairs and change them depending on the moment, he remarked.

Tag Heuer, which Thélios began to produce and distribute last year, is by its nature more technical and will likely be further explored in the optical segment, he added.

As for “med/tech, it’s a very interesting development that must be observed and shows how eyewear is a sector in continuous evolution and with room for exploration that was unthinkable until very recently. It gives us great confidence for the future,” Zanardo said.

Both the executive and Belloni said the focus is on the existing portfolio and on the development of Vuarnet and Barton Perreira, without eyeing additional licenses or acquisitions. Belloni hinted that Tiffany & Co., controlled by LVMH, could be an interesting addition, although that license with EssilorLuxottica does not expire until 2027. Pucci, for example, is still produced by Marcolin. Zanardo pointed out that it’s up to each brand to decide whether to join Thélios or not, which is “a source of pride,” he admitted.

“The opportunities are different, each brand is complementary and there is no overlap, which helps to strengthen our portfolio, but each needs our time and our resources,” Zanardo said.

The investment in Thélios reflects the commitment of LVMH to the six Italian brands it controls, and in Italy, where it has 280 stores, 66 production sites and 18,000 employees, Belloni said. He admitted this was a moment of uncertainty so he stayed away from any short-term forecast, but said he was “extremely confident in the demand for high-quality products in the medium- to long-term,” and that “the context was right for the development of the industry in Italy.”

After opening three major boutiques on Via Montenapoleone for Louis Vuitton, Bulgari and Tiffany, Belloni said Fendi, Dior and Celine stores are up next in Milan and that Loro Piana is building a new industrial complex in Ghemme, in Piedmont.