The biggest premium manufacturer of eyewear in the world is optimistic that eyewear sales will stabilize and even grow this year 2010. This is in spite of the company’s post of a 6 percent fall in Q4 sales last Monday, January 18.
The company’s consolidated market sales fell by 2.1 percent last year to $1.64 billion which is equivalent to 1.157 billion in Euros. There was also a 1.1 percent decline at constant exchange rates.
Luxoticca, maker of famous brands such as Ray-Ban Sunglasses, Prada, and the newly acquired Oakley brand, forecasts that the year 2010 will spot the sales back to normal, resulting in an increase in margins and a reduction in net debt ratio before revenues before taxes, interests, amortization and depreciation. According to the Italian eyewear maker, the market seemed to stabilize last fourth quarter.
Andrea Guerra, Luxoticca’s Chief Executive Officer, said in a public statement that the overall scenario for the company seemed to have evened out or “have stabilized.” The CEO claims that the measures taken by Luxoticca during the period of last year would take effect this 2010. The year in which Guerra believes the company shall see a return in sales increase. Meanwhile, the revenues for the year beginning were very encouraging. Guerra once said that Luxoticca was working towards a return to normalcy in sales. They expect a “positive performance” in Europe and United States – most particularly in developing markets. Nevertheless, economic experts say that there will be lackadaisical sales for luxury items this year.
The Luxoticca Company was founded by Leonardo Del Vecchio in 1961. It was created in Agordo, Italy, but now, its headquarters is in Venice.
0 comments:
Post a Comment