Luxottica arrives in India with the Sunglass Hut label
Luxottica Group S.p.A. announced an agreement with DLF, the leading operator in India's real estate sector, for opening over 100 Sunglass Hut stores, the world's biggest chain specializing in the sale of top-range sunglasses.
Specifically, the franchising agreement with DLF is for Sunglass Hut stores in selected top-level shopping malls and in other premium positions throughout the country. The first outlet is scheduled to open during November 2008.
'The agreement with DLF is an important part of our international strategy', commented Luxottica Group Chief Executive Andrea Guerra. 'On the one hand, it immediately allows us to become a main player in an Indian market that has massive potential. On the other, it is an extraordinary opportunity to strengthen the positioning of our main brands and, in general, all our activities in the area'.
Kelvin Coyle, Chief Executive of DLF Retail Brands Private Limited, added: 'In recent years, DLF has been committed to developing important projects aimed at bringing key brands to India, a market that appreciates high quality products. We are especially pleased about joining Luxottica in this significant initiative. Our strategic approach is to create partnerships with brands that are the leaders in their sector and Sunglass Hut is certainly one of them'.
Sunglass Hut is the only really global chain that specializes in the sale of top-range sunglasses. With over 2000 stores throughout the world, Sunglass Hut has a presence on all the continents and, in particular, in North and Central America, Australasia, China (including Hong Kong), the Middle East and South Africa, the Far East (Singapore and Thailand) and the United Kingdom.
'For Luxottica, Sunglass Hut is one of the best opportunities for growth in emerging as well as in more mature markets', Guerra concluded. 'Thanks to its business model and its strong brand identity, Sunglass Hut is now in all the main world markets and is destined to make an increasingly decisive contribution to the success of the Group's distribution strategies'.
'We intend to open two Sunglass Hut stores in New Delhi very soon and aim to have 100 stores throughout India', Coyle added.
In Thailand, Sunglass Hut recently opened the first two of 15 outlets envisaged by the development plan. During 2008, stores were also opened in the highly strategic Hong Kong market and in the Middle East. Luxottica also announced that it will convert into Sunglass Hut the 71 outlets specializing in the 'sun' in South Africa, a country that is especially interesting for the Group, also because the world soccer championships will be held there in 2010.
