Luxottica, the Italian eyewear group, is targeting Brazil, India and China for future growth to take its share of sales in emerging markets to about a fifth of its global revenues.
Andrea Guerra, chief executive of the Milan-based group, said the aim was that these three countries and other selected emerging markets would account for 20 per cent of sales and 12 per cent of stores by 2012 compared with 14 per cent and 6 per cent in 2009.
The biggest opportunities would lie in China, Mr Guerra told the Financial Times ahead of an investor presentation in London today. “China today is like Italy in the 1960s – it's full of people who want to work hard and have success. By definition it will be huge in terms of growth, but it will take time.”
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