Luxottica 2017 turnover up 2%, profits sharply up (3)

(ANSA) - Milan, January 29 - Luxottica's turnover rose 2.2% to 9. 157 billion euros last year, the eyewear company said Monday. "Adjusted net profit is expected to be strongly up," it said.
    "The group looks to growth over the next 12 months with confidence," said Executive President Leonardo Del Vecchio.
    Milan-based Luxottica Group S.p.A. is the world's largest company in the eyewear industry.
    Luxottica designs, manufactures, distributes, and retails its eyewear brands, including LensCrafters, Sunglass Hut, Apex by Sunglass Hut, Pearle Vision, Sears Optical, Target Optical, Eyemed vision care plan, and Glasses.com. Its best-known brands are Ray-Ban, Persol, and Oakley.
    Luxottica also makes sunglasses and prescription frames for designer brands such as Chanel, Prada, Giorgio Armani, Burberry, Versace, Dolce and Gabbana, Miu Miu, DKNY, and Tory Burch.
    In January 2017, Luxottica announced a merger with Essilor to be completed by mid-2017, resulting in combined market capitalization of approximately €46 billion.[8] The combined entity will command more than one quarter of global value sales of eyewear