Ray-Ban owner Luxottica ups profit

Luxottica, the Italian group that owns high-end eyewear brands Ray-Ban, posts increased profit for 2013 and says 2014 is already looking good.

Luxottica, the Italian group that owns high-end eyewear brands Ray-Ban and Oakley, says it made a net profit last year of 544.7 million euros ($A837.61 million) on sales of 7.3 billion euros.

Revenues were 3.2 per cent up on 2012 with net profit 1.9 per cent higher.

It was the company's third consecutive strong annual results, buoyed by convincing sales in emerging markets China, Brazil and Turkey, where brand-hungry consumers are joining the middle-class. Europe and North America sales remained solid.

The company is the world's largest maker of eyewear. It produces glasses and frames under licence for a wide range of luxury brands, including Dolce & Gabbana, Prada, Versace, Chanel, Ralph Lauren and Paul Smith.

Andrea Guerra, Luxottica's CEO, said 2014 was already shaping up positively.


1 min read

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Source: AAP


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