Decent quarterly results for Luxottica

Michael Kors glasses launched

Turnover grew an astonishing 20 % to 2.21 billion euro in its first quarter, mainly thanks to the weak euro compared to the dollar: excluding exchange rate fluctuations, turnover grew 5.3 %. More than half of Luxottica’s turnover comes from North America, which now has a beneficial effect on its turnover. Not only did its turnover grow, its net profit also grew a lot, up 34 % to 210 million euro.

North American turnover grew 29 %, mainly thanks to the launch of a new collection of sunglasses from the well-known fashion brand Michael Kors.