MILAN – Luxottica Group SpA is expanding into India.
The Italian eyewear company said it plans to open 100 Sunglass Hut stores at high-end malls and premium retail locations across India in partnership with local developer DLF Group. The first unit will bow in New Delhi this month.
“[The deal] allows us to become from day one a key player in one of the most promising retail markets for premium and luxury brands,” Luxottica chief executive officer Andrea Guerra stated.
The announcement follows a slew of Sunglass Hut openings in emerging markets this year, as Luxottica tries to dilute its dependence on the U.S,, which accounts for around two-thirds of its business.
Luxottica, which owns the Oakley and Ray-Ban labels and has eyewear licenses with Chanel, Dolce & Gabbana, Prada and Versace among others, also operates LensCrafters, Pearle Vision and Sunglass Icon in North America, and OPSM and Laubman & Pank in Asia-Pacific.
DLF has agreements with luxury brands including Giorgio Armani, Salvatore Ferragamo, and Dolce & Gabbana.