Friday, February 28, 2014

Luxottica & Essilor Look to Emerging Markets for Growth

"Ray-Ban sunglasses maker Luxottica forecast sales and profit growth in 2014, driven by emerging markets, where sunglasses are popular as an affordable luxury purchase," writes the Economic Times. "On Thursday developed markets would boost group sales and profitability, but it expected stronger growth in emerging markets. Chief Executive Andrea Guerra said Luxottica's "rule of thumb" - whereby profits should grow twice as fast as sales, which themselves should rise by a high single-digit percentage - still applied for the coming year." Read more.

In the meantime, "lens maker Essilor is betting on appetite for trendy sunglasses among the fast-growing middle classes of China and other emerging markets to drive sales after weakness in Europe and North America weighed on 2013 earnings," reports Reuters. Read more.

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