Luxottica Group S.p.A. announced a further expansion in the Asia-Pacific region of Sunglass Hut. Sunglass Hut will enter into The Philippines and expand its existing presence in the Republic of South Africa through two separate agreements. These agreements follow the recent announcement for the rollout of 65 Sunglass Hut stores within the Myer Department store network in Australia and introduction of Sunglass Hut stores in India in 2008.
Chris Beer, CEO of Luxottica, Asia Pacific & South Africa, said the signing of these agreements is testimony to the strength of the Sunglass Hut brand.
“It is very exciting to see the continued growth of Sunglass Hut in new markets like The Philippines as well as significantly boosting its presence in the South African market,” Mr. Beer said. “Expanding the Sunglass Hut business is part of Luxottica's global growth strategy across all areas of our business – And, there remains great potential for Luxottica's sun business in the Asia Pacific region.”
“The introduction of Sunglass Hut in Edgars Department Store in South Africa and via a franchising agreement for retail outlets in The Philippines, reflects Sunglass Hut's globally recognized brand, product range, high level of product knowledge and personal service,” Mr. Beer said.
The South Africa agreement is a concession agreement to roll out an initial 24 Sunglass Hut stores within the Edgar's retail network by the end of 2009. Edgars is South Africa's leading retail department store, with just over 150 stores around the country. This will take the total Sunglass Hut stores in South Africa to 80 by year end.
In The Philippines, the agreement is with that country's leading distribution and retail sports & lifestyle company, Meera Enterprises Inc. Meera has been an Oakley distributor and retailer in the Philippines since 1994. Under the terms of the agreement, an initial eight stores will be completed in 2010.
