Luxottica’s record sales +13.8% to $7.9bn

By Doug Newhouse |

The Luxottica Group has reported record sales in the company’s 50th anniversary year of E.5.8bn ($7.9bn) for FY 2010 – a 13.8% increase over 2009 – and ‘very positive results’ in first two months of 2011, with net sales at the Wholesale division worldwide up +15% and comparative store sales at the Retail division in North America +6%.

The sunglasses and eyewear company says that it expects much of its growth this year to come from emerging markets, the United States, Oakley and Sunglass Hut.

In a statement, the company said: “Fiscal year 2010 was once again a ‘normal’ year for Luxottica, with strong growth of net sales and a more than proportionate increase in profitability relative to sales growth, as well as a significant improvement in financial leverage.

“Both Divisions made a major contribution to the results, thanks to their exceptional work carried out in all the geographic areas in which the group operates.

“We are particularly satisfied with these results, obtained in a context in which only truly extraordinary companies and brands enjoy success,” commented Andrea Guerra, Ceo of Luxottica. 

He added: “2011 is a particularly important year for Luxottica, as it is the 50th anniversary since our founding. Celebrating 50 years of Luxottica is an extraordinary event since we are enjoying enormous success after only one generation and, above all, we have shown that at the heart of our DNA are growth and innovation.

“In the last four years alone, Luxottica has invested approximately Euro 3 billion ($4.1bn) in its growth, continuing to build upon an exceptional brand portfolio and a network of retail stores that is unparalleled worldwide.

“I believe that 2011 will prove to be the natural evolution of 2010 and a year filled with great success for the Group. There are many great opportunities to ensure solid growth for Luxottica, both in emerging and more mature markets. 

“In order to enjoy success in 2011, it will be important to maintain the same passion, the same attention to planning on the one hand and to impeccable execution on the other, as well as making the most of opportunities wherever they may arise, simply and quickly.”

While there was no other specific mention of the travel retail channel, Luxottica said that 2011 will see an increased investment by its Retail Division – Sunglass Hut – in travel retail this year.



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