First Quarter Financial Reports Positive for Luxottica

The largest eyewear company, Luxottica, today posted significant growth in revenue for the first quarter of 2013 with net sales growing at 5.6 percent.

Ray BanAccording to company representatives, sales grew at 17 percent for emerging markets, 4 percent for North America, and 3 percent for Europe. Total net income had grown at 10 percent to 159 million euros, from the previous years 144 million. With this improvement, the company expects a good performance for the rest of the year. 

According to CEO, Andrea Guerra, “the first quarter has marked a strong, solid start to the year, sustained by all of our leading brands in all the geographic areas important to our company. The positive results in the first quarter of 2013 confirmed our expectations for the period and provide a strong basis for another year of growth. We have managed to improve on our record profits and net sales by focusing on the Group’s unique and specific assets and continuing to invest in high-potential, fast-growing markets.”

Luxottica holds eyewear brands Ray-ban and Oakley, and has licensing contracts with luxury brands like: Bulgari, Chanel, Burberry, Versace, and Prada, among others.