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Friday / May 27.
HomeminewsLux Plans to Expand, Investing €1.5billion

Lux Plans to Expand, Investing €1.5billion

Luxottica closed 2015 with new records in sales and earnings and a promise to invest €1.5 billion in innovation, growth and expansion over the coming years.

Luxottica announced adjusted Group sales exceeding €9 billion, with strong organic growth of 17 per cent (+5.5 per cent at constant exchange rates).

Wholesale and retail divisions performed well, with Europe and emerging markets driving growth in 2015 with an increase respectively of +7.8 per cent and +14.5 per cent.

Adjusted, operating income and net income grew in 2015 by more than 20 per cent, bringing the adjusted operating margin and net margin to 16 per cent and 9.5 per cent, respectively.

Leonardo Del Vecchio, Chairman, and Massimo Vian, CEO Product and Operations of Luxottica Group said the company was “entering a new phase driven by an innovative strategic vision, speed of action and organisational simplicity to consolidate our leadership and its long-term sustainability.

In the next three years, we will invest over Euro 1.5 billion to support the Group’s digital transformation, strengthening operations, expansion into new markets and the constant innovation of products and processes.

They said the company has “every advantage” needed “to grow faster than the eyewear market, which itself is still very young and structurally growing…In 2016, sales growth is expected to be solid, in line if
not higher than the past year despite an uncertain macroeconomic environment, with earnings to grow faster than sales,” they said.

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