LVMH is set to take a stake of up to 10% in Italian eyewear maker Marcolin

French luxury goods group LVMH is set to take a stake of up to 10 percent in unlisted Italian eyewear maker Marcolin as it seeks to strengthen control over manufacturing of its spectacles, a source close to the matter said on Thursday.

“LVMH, like other luxury groups, has decided to strengthen its control over eyewear production and is working on a production agreement with Marcolin,” the source said, confirming a report by Bloomberg.

Marcolin declined to comment.

The reported move comes just days after Italy’s Luxottica and France’s Essilor agreed a 46 billion euro merger to create a global eyewear powerhouse.

Marcolin, Italy