Massimo Vian
MILAN—Senior executives at Luxottica Group (NYSE:LUX) characterized 2016 as a year of “transformation” for the global company, citing initiatives now underway in cleaning up unauthorized distribution and pricing for Ray-Ban in North America and China and its continuing efforts “to support the simplification and further integration of the group’s business along with projects designed to enhance the company’s technological, manufacturing and logistics infrastructure.

Given those investments, Massimo Vian, CEO products and operations, in a call with financial analysts, emphasized, that “2017 will be a year of accelerated growth.” He stated, “We are closing this year with right speed and are starting 2017 with positive momentum. Our supply chain will be optimally positioned, enabling leaner inventories. We are getting faster and more well balanced.”

A major investment in ophthalmic lenses is also underway. The company will introduce its own Rx lens production and programs in Europe next year, leading toward more of an integrated lens and lab presence in other parts of the world including North America.

In Sedico, Italy, Luxottica recently opened a laboratory for the production of ophthalmic lenses which will serve Europe, “creating an integrated logistics and production hub between lenses and frames. This laboratory is an addition to the existing six facilities that are already making Luxottica a major player in the high-end ophthalmic lens business.

By early 2017, new central labs will follow to serve North America and Asia-Pacific. They will produce ophthalmic lenses perfectly adapted to each frame manufactured by Luxottica, with the goal of providing consumers with a complete pair of prescription frames of the highest quality and aesthetic.”

The company stated, “Luxottica will offer eyecare providers a new service model, unparalleled in the market, integrating lenses and frames while also leveraging the efficiency of the group’s global distribution network.”

An important element of this will be what Luxottica describes as “the next frontier” for Ray-Ban, citing Chromance sun lenses and the launch of branded Rx lenses soon.”

Vian said that the group’s investment in digital systems and its e-commerce platforms also continue to grow, with the company citing the successful performance of such platforms as SunglassHut.com, Ray-Ban.com and Oakley.com during the third quarter period. Mobile will play an increasingly important role, he noted.

Details on Luxottica’s Q3 financials, including the impact of the implementation of its MAP policy, are detailed in VMail’s financial section here