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Luxottica’s Sales Climb 13.9%

It was a record year, the company's best ever, closing 2012 with sales of 7.08 billion euros, or $9.06 billion.

MILAN — Luxottica Group SpA logged a record year, its best ever, closing 2012 with sales of 7.08 billion euros, or $9.06 billion, up 13.9 percent compared with 6.22 billion euros, or $8.65 billion, in 2011.

“The rate of growth witnessed throughout the year, with excellent performances, rewarded the group’s commitment to customers and consumers,” said Andrea Guerra, Luxottica’s chief executive officer. “The initial results for 2013, and for North America in particular, continue to present strong growth prospects. Now we are already totally committed to ensuring that our 2013 plans are implemented properly in all countries and across all our business lines.”

All geographic markets contributed to the gains last year. Sales in the U.S. rose 6 percent; revenues in Western Europe increased 4 percent, and emerging countries saw a 26 percent growth (both were reported at constant exchange rates).

 

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“We have excellent growth opportunities since we operate in a young industry and have the chance to increase the overall penetration of our products in the international markets. A number of sales channels are newly developed, such as travel retail, department stores and e-commerce,” continued Guerra. “In addition, we consider on the one hand the aging population, and on the other hand the ability to create new areas for development. We believe that some of our businesses could expand by more than 10 percent also in 2013: One only need to look to the emerging countries and the extraordinary success achieved in these markets in recent years.”

In addition to its own house brands Ray-Ban and Oakley, among others, Luxottica produces eyewear collections for brands including Burberry, Chanel, Prada, Tiffany, Coach, Ralph Lauren and Versace.

Guerra identified other key growth drivers in the Ray-Ban and Oakley brands, the group’s luxury brand portfolio with the newly added Giorgio Armani brand, the international expansion of the Sunglass Hut chain, and the “enormous growth of the optical segment worldwide.”

Sales in the fourth quarter totaled 1.63 billion euros, or $2.10 billion, up 8.2 percent compared with the same period the previous year.

Dollar figures were converted at average exchange rates for the periods to which they refer.

The group’s full 2012 financial results will be released Feb. 28.