Positive performances in the US and Asia contributed to international eyewear retailer Luxottica’s growth, positing a 16.4 per cent increase in net sales for the fourth quarter of 2010.
The Italy-based company said fourth quarter sales for 2010 was Euro 1,346.5 million in comparison to Euro 1,157.1 million for the same period in 2009.
CEO Andrea Guerra said its retail division contributed “greatly” to the results, noting the company benefited from a renewed focus on the consumer.
“Worthy of mention are: the performances of two extraordinary brands –- Ray-Ban and Oakley; the continuing recovery of the premium and luxury brands in our portfolio, which include prestigious brands such as Chanel, Prada, Dolce & Gabbana, Tiffany and Burberry; and the exceptional results achieved by Sunglass Hut,” she said.
The outlook for 2011 is a positive one with “very high expectations” for Australia. The company said it expects the various initiatives launched in the Australian market will generate further significant improvements this year.
Last December, the company completed the acquisition of Optifashion expanding its retail footprint to almost 1000 stores.
The Company also expects acceleration in emerging markets, with China in particular.