LensCrafters 2011 Annual Report Download - page 58

58 ANNUAL REVIEW 2011
Luxottica aims at continuing its growth throughout 2012 in all the main geographic areas
where the Group operates. In particular, Luxottica expects to achieve especially significant
results in the following regions strategically important to the Group:
> In the emerging markets, Luxottica estimates a Group 2012 net sales increase of more
than 30%;
> In North America, comparable store sales of the Retail Division are expected to grow
between 5% and 7% in 2012, and net sales of the Wholesale Division by more than 15%;
> In Western Europe, Group’s net sales are expected to increase between 4% and 6%
in 2012.
Emerging markets are expected to represent a formidable driving force for both Luxottica
divisions during 2012. Emerging market countries in which Luxottica presently operates
currently represent about 22% of net sales for the Wholesale Division and recorded about
20% growth in 2011. Luxottica also forecasts that in 2012 the Group will continue this de-
velopment trend as a result of the investments it has made in this area of its business in-
cluding the recently completed acquisition of Tecnol, a leading eyewear operator in Brazil.
Largely as a result of the actions taken to date, Luxottica expects that net sales in emerging
markets could represent approximately 30% of the Wholesale Division’s net sales in 2015.
The Wholesale Division’s global presence will drive Luxottica’s ability to exploit the best
opportunities wherever they appear.
Additionally, Luxottica’s plans for growth in the emerging markets are based on the contin-
ued roll-out of Sunglass Hut stores in this area, performance of the newly acquired GMO
chain (since 2011) in Latin America and continued excellent results from China. In particu-
lar, Latin America represents an area with significant potential, where the Group can ben-
efit from the synergies that are expected to occur between Tecnol and GMO.
Following the excellent results achieved in North America over the past two years, Luxot-
tica aims to continue the balanced growth of both divisions in this particularly strategic
region for the Group.
During 2012, LensCrafters will further strengthen its role as a point of reference in the
North American eyewear market. The innovative technologies introduced by the Group,
such as the digital vision measurement system Accufit, will allow LensCrafters to provide
enhanced levels of accuracy and precision and further improve the quality of service de-
livered to customers.
The Wholesale Division expects continued growth in sales of premium and luxury brands
and this, coupled with the consistently outstanding services offered, will allow the Whole-
sale Division to further establish itself in the North American market. Adding to the Whole-
sale Division’s expected success in 2012 is the highly successful launch of the first Coach
eyewear collections, which has delivered extremely positive results during the first two
months of 2012.
GROW