Fri Feb 28, 2014 9:40am EST
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<span id="articleText"/>* Company aims to sign new licence to start Jan. 2015 * Confident that growth and acquisitions will continue - CEO * Q4 net profit missed estimates on one-off tax provision MILAN, Feb 28 (Reuters) - Ray Ban sunglasses maker Luxottica expects to sign a new eyewear licence worth at least$100 million in sales starting next year, its chief executivesaid on Friday. "We will strengthen the licence portfolio in the next weeksor months...the new licence that probably will come on boardwill start in January 2015," Andrea Guerra said. "The licence is at least 100 million dollars," Guerra saidat an investor day in Milan broadcast on the group's website. He did not say with whom the licence agreement would be. Luxottica generates most of its sales from its own brandsincluding Ray Ban and Oakley, and also makes and distributeseyewear under licence for fashion labels Chanel and Armani. Guerra told Reuters on Thursday the group expects to make atleast 160 million euros from the Armani licence in 2014. Asked about possible acquisitions by an attendee at theinvestor day, Guerra said: "We are pretty confident that ourcombination of organic growth and acquisitions will continue." The company bought U.S. online optical showroom glasses.comearlier this year. An analyst suggested it might now be lookingto acquire Hawaii-based sunglasses maker Maui Jim or Danisheyewear manufacturer Lindberg. On Thursday, Luxottica posted fourth-quarter net profit thatmissed analyst expectations, due to a tax provision on transferpricing, but full-year revenue was in line with expectations andanalysts were sanguine about the results. "Although such a miss might result in some profit taking, ithas no impact on our Luxottica 2014 estimates and valuation,"Citi analysts wrote in a note, reiterating the "Buy" rating onthe stock with a 45 euro target price. Shares fell 2.3 percent on Milan's bourse early on Fridaybut recovered losses to be quoted just 0.4 percent lower on theday at 1434 GMT, changing hands for 40.04 euros.<span id="midArticle_0"/>
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<span id="articleText"/>* Company aims to sign new licence to start Jan. 2015 * Confident that growth and acquisitions will continue - CEO * Q4 net profit missed estimates on one-off tax provision MILAN, Feb 28 (Reuters) - Ray Ban sunglasses maker Luxottica expects to sign a new eyewear licence worth at least$100 million in sales starting next year, its chief executivesaid on Friday. "We will strengthen the licence portfolio in the next weeksor months...the new licence that probably will come on boardwill start in January 2015," Andrea Guerra said. "The licence is at least 100 million dollars," Guerra saidat an investor day in Milan broadcast on the group's website. He did not say with whom the licence agreement would be. Luxottica generates most of its sales from its own brandsincluding Ray Ban and Oakley, and also makes and distributeseyewear under licence for fashion labels Chanel and Armani. Guerra told Reuters on Thursday the group expects to make atleast 160 million euros from the Armani licence in 2014. Asked about possible acquisitions by an attendee at theinvestor day, Guerra said: "We are pretty confident that ourcombination of organic growth and acquisitions will continue." The company bought U.S. online optical showroom glasses.comearlier this year. An analyst suggested it might now be lookingto acquire Hawaii-based sunglasses maker Maui Jim or Danisheyewear manufacturer Lindberg. On Thursday, Luxottica posted fourth-quarter net profit thatmissed analyst expectations, due to a tax provision on transferpricing, but full-year revenue was in line with expectations andanalysts were sanguine about the results. "Although such a miss might result in some profit taking, ithas no impact on our Luxottica 2014 estimates and valuation,"Citi analysts wrote in a note, reiterating the "Buy" rating onthe stock with a 45 euro target price. Shares fell 2.3 percent on Milan's bourse early on Fridaybut recovered losses to be quoted just 0.4 percent lower on theday at 1434 GMT, changing hands for 40.04 euros.<span id="midArticle_0"/>
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