Reflection, luminescence, and Raman spectra of epitaxial ZnTe layers nominally incorporating double CdTe submonolayers were studied. The band of an exciton localized at the potential produced by narrow-gap planar inclusions dominated the luminescence of these heterostructures. The emission parameters of localized excitons (specifically, the ratio of integral emission intensity to localization energy) were determined, and it was found that excitons interact with longitudinal optical phonons of the layer enriched with cadmium. Giant amplification of the Stokes component resonant with the localized exciton level was observed in Raman scattering.