Business Intelligence on Retailing, Franchising, and Consumerism in China


Luxottica Opens LensCrafters In Guangzhou

Italian glasses company Luxottica has quietly started trial operation of three LensCrafters stores in Guangzhou, after its acquisition of Guangzhou Ming Lang Optical Company.

Located in Guangzhou Teemall, Shenzhen Park Mall and Guangzhou Longkouxi Road, these three stores are the former stores of Ming Lang, a traditional glasses brand in Guangzhou which was acquired by Luxottica for RMB290 million several months ago. These trial operated stores are named Lens Crafters Ming Lang in order to prevent the loss of clients who have had a good recognition of the Ming Lang brand. However, all the Ming Lang opticals will be renamed as Lens Crafters by 2008.

Italian eyewear company Luxottica has purchased three companies in China including Beijing Xueliang Glasses Company, Guangzhou Minglang Optical Company and Shaihai Modern Optical Company.

Andrea Guerra, CEO of Luxottica, says that Luxottica will spend three years integrating these companies in order to occupy the top-end glasses market in China. Many of other luxury glasses brands of Luxottica will also expand in China in the 270 stores of the above-mentioned three companies.

The net sales for Luxottica was US$4.4 billion last year. Andrea Guerra estimated that the revenue of Luxottica in China will take only 1 percent of its gross sales this year, and will reach 2 percent next year. Luxottica Group is the world's leading designer, manufacturer and distributor of eyewear in the premium and luxury segments. It has approximately 5,700 optical stores worldwide.





Be the first to comment on "Luxottica Opens LensCrafters In Guangzhou"

Leave a comment

Your email address will not be published.


*




  Other China News

ChinaTechNews.com:


GreenChinaTech:

Chinese Electric Bus Manufacturer Lands USA Deal

American Electric Car Manufacturer To Build In China

U.S. Clean Water Company Makes Chinese Inroads

GE Will Promote Wind Power Through New Chinese Education Center


ChinaSourcingNews.com:

JD To Build Global Logistics Headquarters In Xi'an

Wumart, AGS Sign Agreement For Seafood Direct Procurement

India Gains Second Factory From China's Xiaomi

85% of Indian Staff To Lose Jobs At China's LeEco