AGORDO, Italy — The Luxottica Group SpA, eyewear manufacturer based here, said Friday it has purchased a majority stake in Briko SRL, a sports eyewear company based in Dormeletto, Italy.
Briko is expected to report sales this year of $14.6 million (23 billion lire) at current exchange. Its eyewear is predominantly geared to skiing and cycling.
The terms of the transaction were not disclosed.
Luxottica designs and manufactures eyewear for the medium to premium-priced markets. Its products include a variety of licensed designer labels.
Luxottica’s sales for the quarter ended March 31 were $132.4 million (208.8 billion lire). U.S. sales contributed 32.9 percent to total revenues in the quarter, and designer frames represented 53.6 percent of sales.