LVMH Moet Hennessy Louis Vuitton has agreed to acquire Los Angeles based eyewear manufacturer Barton Perreira, in an effort by the luxury goods group to reach out to products with mass market appeal.
In recent years, glasses have become one of the first items that luxury consumers purchase before purchasing more expensive items such as handbags. This prompted LVMH and other luxury goods companies to end their authorization agreements with third-party manufacturers and develop their own eyewear business.
According to insiders, the transaction value of LVMH's acquisition of Barton Perreira is approximately $80 million, adding another well-known frame company to the rapidly growing eyewear business of the French company.
LVMH plans to expand the brand beyond the United States by selling its glasses in high-end stores it has already partnered with in Europe and Asia. LVMH also plans to open multiple independent Bartons
LVMH Moet Hennessy Louis Vuitton has agreed to acquire Los Angeles based eyewear manufacturer Barton Perreira, in an effort by the luxury goods group to reach out to products with mass market appeal.
In recent years, glasses have become one of the first items that luxury consumers purchase before purchasing more expensive items such as handbags. This prompted LVMH and other luxury goods companies to end their authorization agreements with third-party manufacturers and develop their own eyewear business.
According to insiders, the transaction value of LVMH's acquisition of Barton Perreira is approximately $80 million, adding another well-known frame company to the rapidly growing eyewear business of the French company.
LVMH plans to expand the brand beyond the United States by selling its glasses in high-end stores it has already partnered with in Europe and Asia. LVMH also plans to open multiple independent Barton Perreira stores, starting from Europe.