De Rigo invests in South America with a new subsidary in Brazil

A strongly expanding market that offers important prospects for growth. This is the reason that encouraged the De Rigo Group, which specializes in the production and worldwide distribution of high-quality eyewear, to acquire a majority shareholding in its Brazilian distributor and change it into a subsidiary.

'It is a strategic decision', commented Michele Aracri, the managing director of De Rigo Vision, 'that allows us to establish a base in the most important South American market and one that is very responsive to Italian products. We forecast that the new subsidiary will have billings of 15 million dollars in 2007, which will double in three years. The results achieved to date are excellent for all the brands, but specifically for the Brazilian brand, Victor Hugo, Police, the Group's historical propriety brand, and Ermenegildo Zegna'.

Ermenegildo Zegna in particular is a key element for De Rigo on the Brazilian market as it has its own boutiques in San Paolo and Rio de Janeiro. Aimed at elegant men with class, the brand is positioned in the medium-high segment and is very popular because of its all-Italian style.

The subsidiary based in San Paolo will be able to count on the professionalism of the 30 representatives who already operate in Brazil. The investment is part of a development project oriented toward taking direct control of important markets and follows on a similar operation concluded in Croatia, where the Group acquired a 100% interest in its distributor after a partnership of 15 years.

The De Rigo Group's positive trend is therefore confirmed. In 2006 its consolidated billings increased by 10.4% from 505.7 million euros in 2005 to 558.4 million euros.