Italian company Luxottica, the largest company for eyewear based in Milan has announced a 19 percent growth for the fourth quarter of 2012, bringing up total profits to 542 million in euros. Also this year, their turnover was up to 7.08 billion, a 13.9 percent increase compared to the previous year, as reported by the Business of Luxury.
According to analysts, Luxottica’s licensing with Giorgio Armani S.p.A. could earn up to 200 million a year, and that is simply one of 20 other agreements with other brands. Considering the economic downturn, they claim that Europe had the strongest sales this year, increasing at 26 percent, while emerging markets grew at 19 percent.
Representatives from Luxottica claim that for the coming year, they will put more effort on penetrating the Southeast Asia, particularly Indonesia and Thailand. CEO Andrea Guerra announced that he expects business to increase by at least 20 percent for the year 2013.