Luxottica will continue investing despite envisaging a slowdown in consumer spending in 2009, according to chief executive Andrea Guerra.
Speaking to Italian newspaper Corriere della Sera, Guerra confirmed predictions in a recent financial results statement that 2009 would be 'a particularly difficult year' (Optician, News, November 7).
'In this period of uncertainty, you have to invest more - we must not change strategy, but be flexible,' Reuters quoted Guerra as saying. He added that the company should see 5 per cent growth in sales this year.
Guerra's assertion that Luxottica was looking for longer-term growth in emerging markets was reflected in a separate announcement that 100 Sunglass Hut stores were to open in India. 'We strongly believe that Sunglass Hut is one of the key opportunities for growth for our group in mature and emerging markets alike,' he explained. 'We continue to see opportunities for further expansion and strengthening of Sunglass Hut's footprint,' said Guerra.