MILAN, Italy - Sunglass brand Oakley could be the next to be added to Luxottica’s portfolio, as a part of Luxottica’s strategy to gain a larger market share in the North America. Luxottica share price immediately jumped by 5.2% on a rumor spread by Goldman Sachs that it may be working on the acquisition
Andrea Guerra, chief executive at Luxottica, the largest eyewear company, is targeting the US. He said earlier this year that 85 per cent of sunglasses sold in the US still cost less than US$ 30 but the percentage was dropping.
Luxottica may be trying hard to increase its presence in emerging markets such as China, South Korea and Turkey but the Italian eyewear group is still looking hungrily at North America. Luxottica already owns among them the sunglass brand names DKNY, Dolce & Gabbana, Ray Ban and Versace.
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