De Rigo strengthens store chains in Europe

De Rigo Vision invests in Europe by strengthening its chains of stores in Spain, Portugal and Great Britain. Backed up by a gross operating margin of 47.9 million in 2005 and operating profits of 23.6 million from revenues of 505.7 (in line with 2004), the Belluno-based company will strengthen the Dollond & Atchinson and General Optica networks (a turnover of 236.9 and 144.4 million, respectively in 2005), which have 561 stores in the three countries (400 directly managed and 161 under franchising), distribution, especially in the US market, and the developmentn of its four new brands under license. They are Chopard, luxury eyewear, Jean-Paul Gautier, Zegna and Escada, brands that will join Celine, Givenchy, Police, Sting, Lozza, La Perla and Furla.

By the end of 2007, De Rigo Vision aims at growth in revenues exceeding of 10% and at giving the go ahead for a campaign that will increase the brands under license by acquiring some world-famous names.

'Currently', explained chief executive Michele Aracri, 'in Spain we have 189 outlets, 165 of which are directly managed. By the end of 2006 there will be 200 in cities with a high level of tourism. The General Optica chain is doing well, but in Great Britain Dollond & Atchinson saw a slight downturn in 2005. This is why we had to act decisively by opening the 340-sq.m. megastore on London's Regent Street, an extremely busy pedestrian area; it was inaugurated a few weeks ago and it is more oriented toward sunglasses. In Great Britain there are 372 stores, 235 of which are under direct management. We must strengthen this chain and make it more exclusive'.

For De Rigo strengthening also means overseas wholesale (+6% in 2005).With a strong and firmly rooted presence in the Far East, the company aims at having more space and more visibility throughout America (reproduction reserved)

(Source: Milano Finanza)