Top Story

e4m_logo.png

Home >> Marketing >> Article

Ray-Ban eyes two-digit growth — Launches slew of new products

22-April-2004
Font Size   16
Share
Ray-Ban eyes two-digit growth — Launches slew of new products

Ray-Ban Sun Optics India said today that with a range of products and marketing initiatives in place, it is targeting to achieve two-digit growth in the current year.

The company had posted over 50 per cent bottomline growth in 2003 to Rs 3.7 crore on Rs 40-crore sales turnover.

According to senior company officials, while the company's sales grew by about 22 per cent last year, it has effectively installed several cost reduction measures so the net profit growth outpaced the sales growth.

"We hope to sustain these growth levels. We have initiated several cost reduction measures, which should help profitability growth," Mr Harsh Chopra, Managing Director of Ray Ban Sun Optics India, said.

On the dispute between Ray-Ban's parent company Luxottica SpA and the SEBI, Mr Chopra said that whether an open offer is to be made by the Italian parent company would be decided by the Supreme Court.

Luxottica holds 44.1 per cent stake in its India subsidiary and had been asked by the SEBI to make an open offer for another 20 per cent after its worldwide acquisition of Ray-Ban Sun Optics in 1999.

The company today also announced the launch of over 140 new models of eyewear under various brands to improve its share in the domestic market.

Tags

The production house has already established itself as the leader in the non-scripted genres. However, Rege now wants Endemol to achieve the same in the original scripted zone and film production

Naidu also talks about the ushering in of a new era of digital payments and says this is just the beginning and there’s lots of space for newer players to step in and evolve

Markus Noder, Managing Partner, Serviceplan International, shared innovative tools, ideas and methodologies to generate tangible business values

The primary reason that led to growth of OTT is the constant improvement of internet speed and service across the country: Sandeep Gupta, ACT Fibernet

India has become the diabetes capital of the world, with prevalence of the disease estimated to rise from 69.2 million to 123.5 million by 2040

Laban Stretchy Man, the new human shaped, stretchy, fruit flavoured chews from Orkla- Norway’s number one confectionery brand, has been launched and localized by MTR Foods in India