In unrelenting pursuit of double digit EPS growth for fiscal year 2007, it was announced Friday March 23, that Luxottica Group (NYSE:LUX) had acquired two South African eye wear chains. The reported total expenditure for the dual purchases was $13.4 million. Luxottica says the acquisition fits snugly into the company's strategy of maintaining market dominance, increasing cash flow generation and staying ahead of the eye wear industry growth curve.

Andrea Guerra, Luxottica Group's chief executive officer said that nearly two thirds of the world's population is just beginning to explore the fashion eye wear market. The drivers in the market can be divided into: 1) People attempting to express individuality through choices made in fashion eye wear has never been stronger. 2) As people in emerging economies come to realize the simplicity of vision enhancement through eye wear, they are also coming to grasp the realities of personal expression that fashion eye wear choices can make. 3) As baby-boomers age, there is an ever increasing pool of new clients who are visiting fashion eye wear stores for the very first time.

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Luxottica continues growth initiatives originally appeared on BloggingStocks on Mon, 26 Mar 2007 09:59:00 EST. Please see our terms for use of feeds.