Deals
Safilo Buys Majority Stake in Celebrity Eyewear Privé Revaux
- Company acquires stake controlled by TSG and other investors
- The brand is backed by stars like Jamie Foxx and Ashley Benson
Privé Revaux glasses
Photographer: Bennett Raglin/Getty Images for Privé Revaux
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Italian eyewear company Safilo Group is acquiring a majority stake in celebrity-backed label Privé Revaux, which sells sunglasses and reading glasses co-branded through collaborations with the influential and famous.
The company is buying out the stake controlled by a group of investors including private equity firm TSG Consumer Partners. Safilo will own 61% of the company, which had about $20 million in sales last year, nearly doubling revenue from the prior year, according to a statement Monday.