Luxottica Group S.p.A. announced that Sunglass Hut, its main sun retail brand, has further expanded its global footprint by entering Thailand. The group has signed a franchising agreement with the privately-held Diethelm Keller Limited that will initially add 15 stores to Sunglass Hut's global network in a new market for the brand. Sunglass Hut's presence throughout the Asia-Pacific region currently comprises 220 stores in markets that include Australia, New Zealand, Hong Kong and Singapore.

Terms of the transaction announced today were not disclosed.

Chris Beer, chief executive officer of Luxottica Group's retail business in Australasia, Southeast Asia and South Africa, commented: “Sunglass Hut is today the leading sun retail brand in the industry and the only truly global player. The entry into Thailand strengthens our presence in Southeast Asia, a high-potential growth region for the sun retail business. It is also an example of the significant additional opportunities for additional growth that the Group sees for Sunglass Hut both in the region and globally.

“Specifically,” concluded Beer, “this transaction represents an important step in the development of the Sunglass Hut brand in Asia-Pacific, allowing us to leverage its global attributes while partnering with local expertise to maximize growth opportunities also in new markets.”

Sunglass Hut had 1,970 stores worldwide as of March 31.