CEO of the world's largest glasses manufacturer says: European companies will move production from China back to Europe
Yesterday, the Financial Times quoted Andrea Guerra, chief executive of Italian optical giant Luxottica, as saying that some European companies will move some of their production operations from China back to Europe because of the The benefits of moving to China are limited."
The world's largest spectacle manufacturer announced its 2006 financial report that day, boosted by demand from the core market in North America. The company’s sales revenue climbed 13 percentage points last year, setting a record of 4.67 billion euros (about US$6 billion)— - So far, the company's sales revenue has been double-digit growth for three consecutive years.
Yesterday, Gurla told the Financial Times that Luxottica would not substantially increase the proportion of production in China. The CEO also said: "Too many European manufacturers have gone through the wave of 'Made in China', some of whom will Will return to Europe." However, Gurla said the company plans to invest 225 million euros in 2007 to open stores to "continue the current growth momentum."
In a subsequent statement, Gurla stated that although the full report will be announced in early March, the above results reflect both strong sales of wholesale and retail businesses, with total sales of wholesale sales reaching 1.7 billion euros. 30%.
Luxottica’s Ray-Ban brand sales rose 28%, and the company’s sales of high-end eyewear that luxury brands (including Chanel, Prada and Polo Ralph Lauren, etc.) have produced have increased by an average of 40%.
Since manufacturing glasses in China in the late 1990s, currently 25% of Luxottica's production is completed in China. The company's 5,700 retail optical eyewear and sunglasses retail outlets are mainly located in North America, Asia Pacific and Europe. Through a series of acquisitions, Luxottica expanded 270 retail stores in China in early December.