Luxottica has signed a deal with Intel Corp to develop a range of hi-tec glasses that could allow users to access information about their health, location and more.
The company behind Ray Ban, Oakley and Armani branded glasses is in the process of finalising a new license deal for 2014 and expects net profits to continue to rise in the final quarter, according to its CEO, Andrea Guerra. Speaking during an interview with Reuters, the Luxottica boss expressed confidence in the company’s ability to match an 8 per cent rise in third quarter profits.
The world’s largest eyewear group is thought to be continuing its expansion into emerging markets as it looks to offset a decline in demand for luxury on a global scale. The Milanese company, which owns Ray-Ban, Oliver Peoples and Oakley and holds the licenses to produce eyewear for Prada, Chanel, Stella McCartney and Versace, is now reported to be considering expanding into Brazilian and Asian markets.
Luxury eyewear maker Luxottica SpA on Wednesday announced fourth quarter sales grew 12 per cent on strong demand from emerging markets, as well as a rebound in Australia. The Italian group said net sales rose to EUR 1.51 billion in the last three months of the year from EUR 1.35 a year before.
Luxottica Group SpA has confirmed talks with Giorgio Armani SpA to produce glasses for the designer under license. The eyewear specialist is keen to close a deal with the fashion house, which is one of the world’s most coveted labels. Luxottica chief executive Andrea Guerra told press “Yes we are in talks with Armani,” as the company battles with rival eyewear maker Safilo for the licensing contract.
Ermes Stefanutto has been appointed managing director for hosiery brand Wolford's UK and Irish business. The former commercial director for Luxottica will be responsible for the brand across wholesale and retail divisions. He will be in charge of strengthening the partnerships with key accounts whilst developing Wolford’s retail presence.
Luxottica (LUX.MI), the world's biggest premium eyewear group, expects a solid 2011 after stronger demand for luxury brands, especially in the United States and Asia, boosted 2010 sales to record levels. The maker of Ray-Ban and Oakley sunglasses said on Monday 2010 net sales hit a record 5.80 billion euros ($7.9 billion), helped by consumers' improving confidence in its key U.S. market and a more customer-focused retail business. Read more on Reuters
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