The Spanish group has set up a new national sales subsidiary in West Covina, California, in which it has a 60 percent controlling interest. The balance of the shares are held by two local executives, Daniel Klamut and Tom Posin, who have experience in the sector as former executives of Orcolite, the US polycarbonate manufacturing firm subsequently bought by Vision-Ease. Called Indo Lenses US, the new company is starting up with an integrated distribution center. It will sell finished and semi-finished value-added products by Indo, like its Superfin lenses, working through major labs throughout the USA. Other foreign investments are being contemplated.
Indo is also taking new action on the domestic front. On Oct. 1, it will take over from L'Amy the distribution of its licensed Lacoste eyewear line in Spain. 1. The large French group was selling it there through its own Spanish sales subsidiary, but Indo has undertaken to boost the line's sales to a targeted level of 100,000 sets per year, introducing it among the 2,500 best Spanish opticians.
Indo had recently lost the distribution of Marchon's line of Calvin Klein eyewear in the country. With Spain representing the second-largest market for the Lacoste apparel line, the new eyewear contract should help Indo to boost its domestic sales. In the 1st half of this year, they grew by only 2.7 percent in a weak market which was probably flat or slightly down. Instead, Indo managed to raise by 12.4 percent its sales outside Spain, contributing to an overall 3 percent sales increase. At e1,387,000, the net income was in line with that of the same period one year ago.