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Franchise News - Article
26.11.2008
Luxottica Sunglass Hut to expand into India
The Italian Luxottica Group S.p.A. announced recently that it is to enter the Indian market having signed a franchising agreement with the DLF Group, a leading real estate developer based in New Delhi. According to the information provided, plans are to open more than 100 Sunglass Hut stores at select premium retail locations across India. The first store is expected to open its doors to the public at the end of this month.
Andrea Guerra, chief executive officer of Luxottica Group, commented, “This is an especially important development for our Group and a turning point for our business in India. On the one hand, it allows us to become from day one a key player in one of the most promising retail markets for premium and luxury brands working side-by-side with the leading real estate developer in the market. At the same time, it is an opportunity to further strengthen the positioning of our key brands, with an expected benefit for our entire business in that market.”
Sunglass Hut is active across the world with over 2,000 stores in key markets in North and Central America, Australasia, China (including Hong Kong), the Middle East and South Africa, Southeast Asia (Singapore and Thailand) and the UK. (kbp)
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