Luxottica Group expects emerging markets to help its Ray-Ban and Oakley brands sustain growth rates in the high single-digit and double-digit ranges respectively in 2013.
Growth will be driven by expansion in the emerging markets of Asian and Latin America. In Brazil, for instance, Ray-Ban will launch in March and Oakley will launch by year end. LUX will invest to double its production capacity in the highly protected Brazilian market by 2015 and expects to double eyewear sales there in five years.
Emerging markets now account for 12 percent of Oakleys sales and the brand is developing styles specifically to fit consumers in Asia, where LUX expects to double sales in three years.
LUX said sales of its wholesale business, which includes Ray-Ban and Oakley, grew 15 percent in North America, 3 percent in Western Europe and 19 percent in Emerging Markets in the year ended Dec. 31, 2012. Those rates are expected to reach 10-15 percent, 4 to 7 percent and 20 to 30 percent respectively in 2013. Oakley sales grew at double-digit rates in 2012, when it got a big boost from exposure during the Summer Olympics.
Overall sales at LUX, which is the worlds largest manufacturer and retailer of prescription eyewear and owns Sunglass Hut, grew 8.2 percent on a currency-neutral basis in the fourth quarter and 13.9 percent for all of 2012.
