Luxottica
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Luxottica Group S.p.A. (ISE: IT0001479374, NYSE: LUX) is a producer and retailer of eyewear, headquartered in Agordo, Veneto, Italy.
[edit] Corporate background
Luxottica Group S.p.A. engages in the design, manufacture, distribution, and marketing of prescription frames and sunglasses in the mid-and premium-price categories. The company operates in two segments, Manufacturing and Wholesale Distribution, and Retail Distribution. The Manufacturing and Wholesale Distribution segment engages in the design, manufacture, wholesale distribution, and marketing of house brand and designer lines prescription frames and sunglasses. Its brand portfolio includes house brands, such as Ray-Ban, Revo, Arnette, Killer Loop, Persol, Vogue, Luxottica, and Sferoflex; and designer lines, such as Chanel, Prada, Dolce & Gabbana, D&G, Versace, Bulgari, Miu Miu, Salvatore Ferragamo, Donna Karan, DKNY, Genny, Byblos, Brooks Brothers, Sergio Tacchini, Anne Klein, Moschino, Versus, and Adrienne Vittadini. This segment's wholesale customers include retailers of mid- and premium-priced eyewear, such as independent opticians, optical and sunglass chains, optical superstores, sunglass specialty stores, and duty-free shops. The Retail Distribution segment operated a retail network of approximately 5,700 optical and sun retail stores in North America, Asia-Pacific, China, and Europe, as of June 23, 2006. Luxottica Group was founded by Leonardo Del Vecchio in 1961 and is headquartered in Milan, Italy.
[edit] Brands
Luxottica is a vertically integrated company, producing at the wholesale level with both house and licensed brands, among them are Ray Ban, Arnette, Brooks Brothers, Bvlgari, Burberry, Chanel, Ferragamo, Killer Loop, Moschino, Prada, Versus, Vogue, Dolce and Gabbana, D&G, DKNY,Persol, and Versace. Luxottica is also active at the retail level; the company acquired LensCrafters (in 1995), Sunglass Hut International and WatchStation (in 2001), OPSM (in 2003), Pearle Vision (in 2004), and Cole National (which includes the retail brands Sears Optical, Target Optical, Cole Vision Care, and Things Remembered)(in 2004).(Things Remember was sold to an undisclosed investment firm in the summer of 2006.)
In 2006 Tiffany announced its entrance into the luxury-eyewear business, signing a 10-year licensing deal with Luxottica Group. Set to hit the stores by 2008 and is set to add $67 million dollars in annual revenue.
Luxottica Retail, a wholly owned subsidiary, is headquartered in Mason, Ohio.
[edit] External links
Luxottica Group, is also the parent company of EyeMed Vision Care, which is one of the leading managed vision care organizations in the United States. http://www.eyemedvisioncare.com/about/luxottica.html This vertical integration provides EyeMed with many advantages other vision vendors cannot offer. This unique relationship also allows the Luxottica Group to regulate, through EyeMed Vision Care, where insured clients of EyeMed purchase their eyewear. Eyewear providers who do not carry Luxottica brand eyewear are typically not covered by EyeMed.
