MILAN, Italy (BRAIN)—Luxottica Group S.p.A. reported net sales at its Wholesale Division, which owns Oakley, rose to €555.1 million ($784 mm) in the third quarter ending Sept. 30, from €518.3 million ($669 mm) in the third quarter of 2010. That equated to a 10.7 percent increase at constant exchange rates for the Italian company and +7.1 percent increase at current exchange rates.
In the first nine months of 2011, net sales for the division were €1.90 billion ($2.50 bb), up 11.9 percent at constant exchange rates from the €1.72 billion ($2.26 bb) recorded for the first nine months of 2010 (+10.3 percent at current exchange rates).
“During the quarter, Ray-Ban and Oakley's performance were once again exceptional and strong sales of premium and luxury brands such as Burberry, Tiffany and Ralph Lauren were also recorded,” the company said in its earnings release. “The STARS program and the Travel retail business were also very successful this quarter.”