Business expansion of Sunglass Hut under Luxottica
As a major brand under Luxottica, Sunglass Hut is going to expand its business in the Philippines and South Africa. The philosophy of increasing sales through entering a new market is being well used by Luxottica. There were extra testimonies of this strategy in Luxottica. In 2008, Luxottica got into the Indian market by opening Sunglass Hut stores. Moreover, Luxottica has recently entered the Australian market through the Myer Department store network.
Luxottica claimed that it will open 65 Sunglass Hut stores in Austria within the Myer Department store network. However, the firm is not satisfied that it is going to enter the Philippines market and expand its business in the Republic of South Africa. In the Philippines, Sunglass Hut has an agreement with Meera Enterprises Inc., which is the country’s leading distribution and retail sports & lifestyle company. These two steps will be conducted through two separate agreements.
According to CEO of Luxottica, Asia Pacific & South Africa named Chris Beer, these actions or agreements are part of Luxottica’s ambition to expand its existence in the Asia-Pacific region. Trough opening Sunglass Hut stores, the company also shows its determination to further promote this brand, which has been the leading sunglass specialty retailer in the world.
In fact, Luxottica considers the expansion of the Sunglass Hut business as part of the firm’s global growth strategy. In this consideration, recent movements from Luxottica are just a small part of this overall strategy. As a global leader in the design, manufacturing and distribution of fashion, luxury and sports eyewear, Luxottica has long emphasized on its brand of Sunglass Hut.
And the wide spread of Sunglass Hut in these countries is a good testimony to the strength of this brand. Other advantages of Sunglass Hut also involve product range, high level of product knowledge and personal service. Officials of Luxottica are expecting to see continued growth of Sunglass Hut in these new markets.
In South Africa, Sunglass Hut will be introduced into the network of Edgars Department Store, which is a leading retail department store in the country and maintains 150 stores.