LVMH Moët Hennessy Louis Vuitton LVMHF LVMUY, the luxurious items conglomerate, has reportedly confirmed the acquisition of Barton Perreira, an eyewear model primarily based in Los Angeles.
This strategic transfer is seen as a bid to reinforce LVMH’s portfolio with extra accessible luxurious gadgets that enchantment to a broader market, the WSJ reviews.
Based in 2007 by the artistic duo Invoice Barton and Patty Perreira, Barton Perreira has garnered a loyal following within the U.S., with high-profile personalities like Sandra Bullock and Ryan Gosling donning their designs.
The report notes that the label’s frames are manufactured in Japan. This buy, alleged to be round $80 million, brings a celebrated model into the fold of LVMH’s burgeoning eyewear division.
Wanting past the U.S. market, LVMH plans to introduce Barton Perreira throughout Europe and Asia by way of LVMH’s in depth retail community and by establishing standalone shops, beginning in Europe, the report provides.
The worldwide eyewear market is predicted to develop from $161.61 billion in 2023 to $246.47 billion by 2030, the report notes, citing analysis agency Fortune Enterprise Insights.
Worth Motion: LVMUY shares closed increased by 1.01% at $150.75 on Friday.
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