LensCrafters 2005 Annual Report Download - page 27

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> 26 | ANNUAL REPORT 2005
experience. The Group now controls 276 retail outlets in Beijing and Guangdong provinces, two of the
most dynamic in terms of growth, and Hong Kong.
In North America, Luxottica Group also controls the Watch Station, Watch World and Things Remembered
retail brands. Watch Station and Watch World operate mainly inside Sunglass Hut stores, offering a
product, watches, which is highly complementary to sunglasses. Things Remembered, acquired with
Cole National, is one of the leading specialty gift retailers in the United States; it is controlled by Luxottica
Group’s retail structure but is managed independently as its business is non-core.
GROUP RETAIL CHAINS WORLDWIDE
Geographic area Retail Number Primary Complementary
chain of stores product product
North America LensCrafters 893 Prescription Sun
Pearle Vision (*) 837 Prescription Sun
Sunglass Hut 1,557 Sun Watches
Licensed brands:
Sears Optical 960 Prescription Sun
Target Optical 246 Prescription Sun
BJ’s Optical 143 Prescription Sun
Things remembered 664 Gifts
Asia-Pacific OPSM 314 Prescription Sun
Laubman & Pank 123 Prescription Sun
Budget Eyewear 75 Prescription Sun
Sunglass Hut 182 Sun Watches
China & Hong Kong Xueliang Optical 77 Prescription Sun
Ming Long Optical 133 Prescription Sun
The Optical Shop 66 Prescription Sun
Europe Sunglass Hut 110 Sun Watches
(*) of which 462 in franchising
Data as of December 31, 2005.
Luxottica Group received authorization to complete the acquisition of Xueliang Optical in April 2006. Completion of Ming Long Optical transaction is still awaiting for
approval by the Chinese authorities, which is expected in 2006.
LUXOTTICA RETAIL NORTH AMERICA
PRESCRIPTION
Lenscrafters
Luxottica Group entered the North American retail market for the first time through the acquisition of
LensCrafters in 1995. This was a major undertaking which in the space of a few years proved to be a
highly successful strategy, given the high growth rates and efficient market penetration the Group’s retail
presence in that market has achieved. LensCrafters was the first U.S. optical chain to offer both a vast
array of premium eyewear and an in-store optometrist and lab for fast assembly of prescription glasses
(in most cases in one hour). Today, with 893 stores in the United States and Canada, LensCrafters is
focusing on premium products and service, offering fashion frames, state-of-the-art lens technology,