Luxottica: LensCrafters will open 500 licensed stores at Macy’s over the next yearsBUY, Fair Value EUR64 (0%)
Yesterday Luxottica and Macy’s announced an exclusive agreement to open LensCrafters licensed stores in about 500 Macy’s locations over the next three years, starting from April 2016. This interesting strategic decision, in addition to the LensCrafters retail concept revamp next year, clearly confirms the co-CEO of Markets Adil Mehboob-Khan’s statement during the Q3 earnings call, who declared that retail (59% of sales) would be one of the group’s acceleration points going forward. The US market (56% of sales) would also remain a key growth engine for Luxottica.
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