Thélios inaugurates its new factory with great fanfare. A 20,000-square-meter site adjacent to its headquarters in Longarone, Veneto. Bought from Safilo in October 2023 for 10 million euros, the facility, dedicated to metal eyewear from design to component manufacture and assembly, has been completely restructured. It joins the first factory of Thélios, LVMH‘s eyewear entity, just across the street, bringing the company’s total productive area to 40,000 square meters.
LVMH’s eyewear division inaugurated a new site dedicated to metal eyewear on Thursday. – Thélios
On the freshly planted lawn, Thélios CEO Alessandro Zanardo, LVMH Italy president Toni Belloni and local authorities cut the ribbon, not without a certain pride, at the entrance to the site in this steep Dolomite valley, home to Italy’s industrial eyewear district. The facade features the same elements as the first factory, dedicated to acetate eyewear, with the same “Thélios LVMH Eyewear Excellence” logo.
In eleven months, the rather sad and partly disused site has been transformed into a luminous workplace with, on the office side—the part that required the greatest investment as it was built ex novo with the garden—a succession of glassed-in rooms and planted courtyards serving as light wells, as well as common spaces such as the “agora,” a sort of open theater with tiered seating, located in the entrance hall, to encourage exchanges.
On the factory side, the premises are laid out in a gigantic open-space plateau stretching almost 200 meters in length, where workers concentrate on their tasks, each in front of his or her individual workbench or working on some of the latest-generation machines. A total of 352 people work here, out of a total workforce of 1,800 (including 1,300 in the Veneto region). All stages of production are carried out on site, from metal processing to mould development, engraving on metal frames, assembly of the various components, polishing, and quality control.
A view of the new factory, named TH3 by employees – ph DM
The plant, which today produces 6,000 pairs of spectacles a day out of a total output of 18,000 units a day, is fluidly structured around different departments. Some, like the welding and polishing units, didn’t exist before. They were developed from scratch and integrated into the site, which originally specialized in galvanizing (the process of applying a protective coating) and finishing. Today, the plant can offer 14 different metallic color tones. A large part of the production process is carried out by hand, while state-of-the-art machinery is used for certain tasks. The site also boasts a dedicated line for staff training.
“When you walk in here, it doesn’t look like a building from the 1980s. The renovation of the building has been a real success,” enthused Zanardo, who described it as “a long-term, sustainable project,” emphasizing the company’s vocation to be “a center of excellence in the eyewear industry.”
“It’s not just a question of relaunching a factory, but of elevating it to top production standards. And to think that, at the outset, the employees were a little wary. Today, they all want to come to the new site,” he said. “We started out as a start-up seven years ago and have gradually expanded, integrating the entire design and production process in-house, and for acetate technology, and now for metal.”
“It’s incredible to see the industrial growth of the project in seven years. Whereas the first two Thélios production modules were developed from scratch, here the structure existed, but it has been requalified, upgraded, and modernized. Through this acquisition, Thélios was also fortunate to find 250 people with a wealth of experience in a technique—metal—with which it was unfamiliar,” explained Belloni.
Metal frames from the new Thelios factory – ph DM
The company, which came under the full control of LVMH at the end of 2021, was initially set up as a joint venture with Italian eyewear manufacturer Marcolin.
In 2022, it acquired Metallart, a manufacturer specializing in metal, which, under its aegis, grew from 15 to 50 employees in a short space of time. At the time, Thélios was planning to build a brand-new plant devoted entirely to metal, on a plot of land located some fifteen kilometers from its headquarters. It was then that the opportunity arose to take over the Safilo site, threatened with closure.
A long year of negotiations between the two groups, the local authorities, and the unions followed before the takeover was finally completed, with the integration of the 250 employees of the Safilo plant.
“Having our two sites so close together is an undeniable advantage. It will also enable us to better adapt to market demand for different types of eyewear,” added Zanardo.
“In the last two or three years, we’ve seen a new craze for metal eyewear. This technique allows for some particularly detailed finishes for the luxury segment, which is a plus for us operating in this segment. What’s more, metal frames play an important role in prescription eyewear, thanks to their light weight,” he added.
Among the latest bestsellers from LVMH brands are three metal models: Celine‘s Triomphe Metal rimmed glasses, Dior‘s DiorCannage sunglasses, and the renewed popularity of Fendi‘s First Crystal model.
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The demerger of Unilever‘s ice cream division, to be named ‘The Magnum Ice Cream Company,’ which had been delayed in recent months by the US government shutdown, will finally go ahead on Saturday, the British group announced.
Reuters
Unilever said in a statement on Friday that the admission of the new entity’s shares to listing and trading in Amsterdam, London, and New York, as well as the commencement of trading… is expected to take place on Monday, December 8.
The longest federal government shutdown in US history, from October 1 to November 12, fully or partially affected many parts of the federal government, including the securities regulator, after weeks without an agreement between Donald Trump‘s Republicans and the Democratic opposition.
Unilever, which had previously aimed to complete the demerger by mid-November, warned in October that the US securities regulator (SEC) was “not in a position to declare effective” the registration of the new company’s shares. However, the group said it was “determined to implement in 2025” the separation of a division that also includes the Ben & Jerry’s and Cornetto brands, and which will have its primary listing in Amsterdam.
“The registration statement” for the shares in the US “became effective on Thursday, December 4,” Unilever said in its statement. Known for Dove soaps, Axe deodorants and Knorr soups, the group reported a slight decline in third-quarter sales at the end of October, but beat market expectations.
Under pressure from investors, including the activist fund Trian of US billionaire Nelson Peltz, to improve performance, the group last year unveiled a strategic plan to focus on 30 power brands. It then announced the demerger of its ice cream division and, to boost margins, launched a cost-saving plan involving 7,500 job cuts, nearly 6% of the workforce. Unilever’s shares on the London Stock Exchange were steady on Friday shortly after the market opened, at 4,429 pence.
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Burberry has named a new chief operating and supply chain officer as well as a new chief customer officer. They’re both key roles at the recovering luxury giant and both are being promoted from within.
Matteo Calonaci becomes chief operating and supply chain officer, moving from his role as senior vice-president of strategy and transformation at the firm.
In his new role, he’ll be oversee supply chain and planning, strategy and transformation, and data and analytics. He succeeds Klaus Bierbrauer, who’s currently Burberry supply chain and industrial officer. Bierbrauer will be leaving the company following its winter show and a transition period.
Matteo Calonaci – Burberry
Meanwhile, Johnattan Leon steps up as chief customer officer. He’s currently currently Burberry’s senior vice-president of commercial and chief of staff. In his new role he’ll be leading Burberry’s customer, client engagement, customer service and retail excellence teams, while also overseeing its digital, outlet and commercial operations.
Both Calonaci and Leon will join the executive committee, reporting to Company CEO Joshua Schulman.
JohnattanLeon – Burberry
Schulman said of the two execs that the appointments “reflect the exceptional talent and leadership we have at Burberry. Both Matteo and Johnattan have been instrumental in strengthening our focus on executional excellence and elevating our customer experience. Their deep understanding of our business, our people, and our customers gives me full confidence that their leadership will help drive [our strategy] Burberry Forward”.
Traditional and occasion wear designer Puneet Gupta has stepped into the world of fine jewellery with the launch of ‘Deco Luméaura,’ a collection designed to blend heritage and contemporary aesthetics while taking inspiration from the dramatic landscapes of Ladakh.
Hints of Ladakh’s heritage can be seen in this sculptural evening bag – Puneet Gupta
“For me, Deco Luméaura is an exploration of transformation- of material, of story, of self,” said Puneet Gupta in a press release. “True luxury isn’t perfect; it is intentional. Every piece is crafted to be lived with and passed on.”
The jewellery collection features cocktail rings, bangles, chokers, necklaces, and statement evening bags made in recycled brass and finished with 24 carat gold. The stones used have been kept natural to highlight their imperfect and unique forms and each piece in the collection has been hammered, polished, and engraved by hand.
An eclectic mix of jewels from the collection – Puneet Gupta
Designed to function as wearable art pieces, the colourful jewellery echoes the geometry of Art Deco while incorporating distinctly South Asian imagery such as camels, butterflies, and tassels. Gupta divides his time between his stores in Hyderabad and Delhi and aims to bring Indian artistry to a global audience while crafting a dialogue between designer and artisan.