Predicting that sales of sunglasses in travel retail will double in the next few years, Luxottica is planning on a major expansion of its Sunglass Hut chain.
The Italian manufacturer views travel retail as possessing rich potential for further development, claiming that sunglass sales in the sector would double in the next five years at a sunglass workshop held at a Tax Free World Association conference in Cannes late last year.
Speaking about the proposed expansion to travel retail news provider The Moodie Report, Luxottica's chief marketing officer and executive vice president sun and luxury retail, Fabio D'Angelantonio said: 'We think this channel is an incredible driver of growth, and yet it's highly under-exploited in terms of size and breadth of assortment. So we want to be a leader in developing sunglasses in this channel and as industry captain play a major role.'
According to The Moodie Report, sunglass sales in travel retail have tripled since 2000 and now generate around $777m in annual sales. Luxottica's Sunglass Hut travel retail channel already has over 50 outlets worldwide.
The push behind Sunglass Hut is an extension of Luxottica's focus on travel retail which began three years ago when it created a global travel retail division, based in Dublin.
D'Angelantonio also disclosed that Sunglass Hut will not just offer Luxottica brands. 'We don't think it's sound thinking in the long term to just sell Luxottica. So, for example, we have a fantastic relationship with a brand like Maui Jim.'