MILAN, Oct. 27 /PRNewswire-FirstCall/ -- Luxottica Group S.p.A. (NYSE: LUX;
MTA: LUX), a global leader in the design, manufacturing and distribution of
fashion, luxury and sports eyewear, today announced a further expansion in the
Asia-Pacific region of Sunglass Hut, the leading sunglass specialty retailer
in the world.
Sunglass Hut will enter into The Philippines and expand its existing presence
in the Republic of South Africa through two separate agreements. These
agreements follow the recent announcement for the rollout of 65 Sunglass Hut
stores within the Myer Department store network in Australia and introduction
of Sunglass Hut stores in India in 2008.
Chris Beer, CEO of Luxottica, Asia Pacific & South Africa, said the signing of
these agreements is testimony to the strength of the Sunglass Hut brand.
"It is very exciting to see the continued growth of Sunglass Hut in new
markets like The Philippines as well as significantly boosting its presence in
the South African market," Mr. Beer said. "Expanding the Sunglass Hut business
is part of Luxottica's global growth strategy across all areas of our business
- And, there remains great potential for Luxottica's sun business in the Asia
Pacific region."
"The introduction of Sunglass Hut in Edgars Department Store in South Africa
and via a franchising agreement for retail outlets in The Philippines,
reflects Sunglass Hut's globally recognized brand, product range, high level
of product knowledge and personal service," Mr. Beer said.
The South Africa agreement is a concession agreement to roll out an initial 24
Sunglass Hut stores within the Edgar's retail network by the end of 2009.
Edgars is South Africa's leading retail department store, with just over 150
stores around the country. This will take the total Sunglass Hut stores in
South Africa to 80 by year end.
In The Philippines, the agreement is with that country's leading distribution
and retail sports & lifestyle company, Meera Enterprises Inc. Meera has been
an Oakley distributor and retailer in the Philippines since 1994. Under the
terms of the agreement, an initial eight stores will be completed in 2010.
Luxottica Group S.p.A.
Luxottica Group is a leader in premium fashion, luxury and sports eyewear,
with over 6,150 optical and sun retail stores in North America, Asia-Pacific,
China, South Africa and Europe and a strong and well balanced brand portfolio.
Luxottica's key house brands include Ray-Ban, the best known sun eyewear brand
in the world, Oakley, Vogue, Persol, Oliver Peoples, Arnette and REVO, while
license brands include Bvlgari, Burberry, Chanel, Dolce & Gabbana, Donna
Karan, Polo Ralph Lauren, Prada, Salvatore Ferragamo, Tiffany and Versace. In
addition to a global wholesale network covering 130 countries, the Group
manages leading retail brands such as LensCrafters and Pearle Vision in North
America, OPSM and Laubman & Pank in Australasia, LensCrafters in Greater China
and Sunglass Hut globally. The Group's products are designed and manufactured
in six Italy-based manufacturing plants, two wholly-owned plants in China and
a sports sunglass production facility in the U.S. In 2008, Luxottica Group
posted consolidated net sales of 5.2 billion euros. Additional information on
the Group is available at www.luxottica.com.
Safe Harbor Statement
Certain statements in this press release may constitute "forward-looking
statements" as defined in the Private Securities Litigation Reform Act of
1995. Such statements involve risks, uncertainties and other factors that
could cause actual results to differ materially from those which are
anticipated. Such risks and uncertainties include, but are not limited to, the
ability to manage the effect of the poor current global economic conditions on
our business, the ability to successfully acquire new businesses and integrate
their operations, the ability to predict future economic conditions and
changes in consumer preferences, the ability to successfully introduce and
market new products, the ability to maintain an efficient distribution
network, the ability to achieve and manage growth, the ability to negotiate
and maintain favorable license arrangements, the availability of correction
alternatives to prescription eyeglasses, fluctuations in exchange rates, as
well as other political, economic and technological factors and other risks
and uncertainties described in our filings with the U.S. Securities and
Exchange Commission. These forward-looking statements are made as of the date
hereof, and we do not assume any obligation to update them.
SOURCE Luxottica Group S.p.A.
Company media and investor relations: Ivan Dompe, Group Corporate
Communications Director, +39(02)8633-4726, Ivan.Dompe@luxottica.com; or Luca
Biondolillo, SVP, International Corporate Communications, +1-516-918-3100,
LBiondolillo@us.luxottica.com; or Alessandra Senici, Group Investor Relations
Director, +39(02)8633-4718, InvestorRelations@Luxottica.com, all of Luxottica
Group
