By  on May 8, 2009

MILAN — Italy’s two largest eyewear firms saw profits fall in the first quarter as a result of the economic downturn.

Luxottica Group SpA reported a 22.5 percent drop in first-quarter net profit to 80.4 million euros, or $104.5 million at average exchange. Revenues at the company — which has licenses with Chanel, Dolce & Gabbana, Prada and Versace, among others — fell 6.2 percent to 1.32 billion euros, or $1.72 billion.

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