Luxottica, new brands in sight post-Armani

After the breakdown in the relationship with the Armani Group, Luxottica forecasts a profit per share of 0.75 dollars starting from May 31, 2003. This will rise to 0.88 if at least one of the acquisitions the company has its sights on is finalized before the end of the first half of 2003. This was the statement issued by Luxottica and they added that billings from Armani licenses currently represent 7.8% of the Luxottica Group's total billings.

"Currently we are negotiating with brands of worldwide importance' said president, Leonardo DelVecchio 'that we know we can lead to success in the short term. This has already been demonstrated with the launch of the Chanel line where, after only two years, billings exceeded those of all the other brands under license, including Giorgio Armani".