LVMH Moët Hennessy Louis Vuitton (OTC: LVMHF) (OTC: LVMUY), the luxury goods conglomerate, has reportedly confirmed the acquisition of Barton Perreira, an eyewear brand based in Los Angeles.

This strategic move is seen as a bid to enhance LVMH's portfolio with more accessible luxury items that appeal to a broader market, the WSJ reports.

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