Euro 15 bn Luxottica group is a leading designer, manufacturer and distributor of prescription frames and sun-glasses in the premium and luxury segment. The group owns 10 premium eyeware brands, including Ray-Ban, Oakley, Vogue and Revo. Luxottica has licence agreements with 20 top brands, including Burberry, Prada, Tiffany and Salvatore Ferragamo.

DLF will open over 100 Sunglass Hut stores over five years, under the franchisee agreement, which is initially valid for seven years, according to a source. The first store is likely to be opened in New Delhi next month. Luxottica currently operates over 2,000 Sunglass Hut retail stores across the globe. In all, the company has over 6,000 optical and sun retail stores across Asia, China, South Africa, Europe and America.

Luxottica has been operating in India since 1999 when it purchased the ailing Ray-Ban from its then owner Baush & Lomb. The company has lately started distributing its other eye-ware brands through a wholly-owned subsidiary in India. The company also has a local manufacturing facility. But now, DLF will take over entire distribution and retail of Luxottica’s products.

The eyeware market has been rapidly growing in India. Besides several leading global brands, the domestic eyeware makers, too, have exploded on the scene trying to access different segments of the market.

For DLF, the tie-up with Luxxotica is significant as it will give the realty firm a toe-hold in accessory space and help it build a strong retail portfolio. The real estate giant has been looking at tying up with several high-end brands in each category to launch itself in the domestic market as a major retail player.

It has already tied up with premium fashion brands Armani, Dolce & Gabbana and Salvatore Ferragamo. The company is also eyeing multi-brand retail and has been in talks with some major foreign retailer for a partnership, although a deal has not been finalized yet.