Milan, Italy Luxottica Group S.p.A. announced it will enter the Indian retail market this month with the opening of its first Sunglass Hut store in India. A franchise agreement with New Delhi-based DLF Group, a prominent real estate developer, will lead to the opening of more than 100 Sunglass Hut stores at select high-end malls and premium retail locations throughout India. The plan calls for two stores to open immediately in New Delhi.
In announcing the expansion, Luxottica’s chief executive Andrea Guerra, stated: “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 has more than 2,000 stores worldwide including locations in North and Central America, Australia, China, the Middle East, South Africa and the UK.
Most recent store openings include two of a planned 15 expected new stores in Thailand. Sunglass Hut also opened stores this year in Hong Kong and the Middle East. Luxottica also announced that it will convert all 71 of the sun stores it owns in South Africa to the Sunglass Hut brand.