Luxottica CEO says looking at new markets or distribution for M&A

MILAN (Reuters) - Luxottica is always on the lookout for potential targets and would prefer to enter new markets or strengthen its distribution network with acquisitions rather than adding new brands to its portfolio, its chief executive said on Monday. CEO Massimo Vian told an analyst call Luxottica was concentrated on its recently renewed licence accord with Valentino and had a rich brand portfolio. "We need to be careful not to compete against ourselves," he said. Any acquisition would be "more on the market side or distribution side", he added. Talking to Reuters earlier on Monday, Vian said Luxottica had a "very solid base" in terms of frames and lenses and would not necessarily look at acquisitions as it seeks to boost its share of the lens market. "The industry evolution is such that ... it happens that less and less frames and lenses come from two different suppliers," Vian said. Luxottica recently inaugurated a new lens production plant in north-eastern Italy. (Reporting by Valentina Za; editing by Agnieszka Flak)