February 27, 2014 / 8:21 AM / in 4 years

Essilor aims to double revenue in sunwear by 2018 -CEO

PARIS, Feb 27 (Reuters) - Lens maker Essilor aims to more than double its revenue from sunwear to 1.1 billion euros ($1.5 billion) by 2018, Chief Executive Hubert Sagnieres told reporters on Thursday.

The world’s largest maker of ophthalmic lenses also aims to gradually increase its operating margin to 19.5 percent in 2016 from 18.1 percent in 2013.

This margin target excludes the impact of acquisitions, which Sagnieres said Essilor would continue to pursue this year in the sun lens and online segments, without giving more details.

The acquisition of Canadian online retailer Coastal.com for about $388 million should dilute the operating margin by “a few basis points” this year and next, he added.

Essilor said earlier it was betting on sunwear and emerging markets to boost revenue growth and profitability this year after weaker-than-expected 2013 results. ($1 = 0.7317 euros) (Reporting by Noelle Mennella and Natalie Huet; Editing by James Regan)

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