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Luxottica outlines Oakley growth plan
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March 03, 2010 6:00 AM
Oakley parent company Luxottica is investing in the continued growth of its top performing Oakley brand.
According to a Luxottica investor presentation, Oakley’s growth plan includes:
- Increasing global exposure, especially in Europe and emerging markets. Oakley plans to to do this by focusing on snow resorts, the moto sector, continuing its involvement in global sports events such as the Tour de France and the London Olympics, increasing sports penetration in India and China, and expanding the Rolling O Lab program in Europe and Australia.
Other Oakley growth initiatives include:
- Growing its optical business
- Launching international ecommerce platforms. A new, direct to consumer site launches in Europe next month with localized prices and assortments, and four languages in addition to English.
- Test new Oakley platforms at in Luxottica retail and wholesale
- Continued growth of its Oakley Custom Product, sales of which have increased 60% from 2006 to 2009.
- Increase revenue from O stores and Oakley.com
- Build team sales in North America
- Expand women and goggle product offerings
Despite the economic downturn, Oakley revenue grew double digits in 2008 and 2009 and Luxottica sees even more opportunity ahead.
Other Luxottica financial news
Fiscal year revenue: down 2.1% to 5.1 billion Euros. In constant currency, revenue fell 4.5%.
Net income: down 17.1% to 314.8 million Euros.
Q4 revenue: down 6.4% to 1.2 billion Euros. Down 1.1% in constant currency.
Q4 net income: down 8.4% to 35.6 million Euros.
FY Sunglass Hut same store sales: down 7.1%
Q4 Sunglass Hut same store sales: down 1.9%
Luxottica 2010 revenue guidance: mid-single digit revenue growth coming from Oakley, emerging markets and in the U.S. and Europe.
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