LensCrafters 2007 Annual Report Download - page 41
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> 40 | ANNUAL REPORT 2007
2006, were very well received by the market, especially in Europe. This was an early endorsement
of the ten-year licensing agreement with one of the most dynamic and exclusive luxury brands.
At the end of 2006, Luxottica Group entered a ten-year licensing agreement for the design,
production and exclusive worldwide distribution of Tiffany & Co.’s prescription and sun collections.
This new agreement, marking Tiffany’s debut in the eyewear market, is also significant in being yet
another addition to the impressive list of long-term partnerships the Group has entered or renewed
in recent years. The duration of these agreements, at least ten years on average, allows the Group
time to develop collections and position them effectively on the market, thus maximizing their
potential, each in line with its particular brand values.
The launch of the Polo Ralph Lauren and Tiffany’s collections in 2007 made the brand portfolio
even stronger and more well balanced, encompassing the most diverse of consumer tastes and
tendencies while continuing to attract more and more other prestige luxury and fashion labels.
In 2007, Luxottica Group continued to extend its global organization and add people to its teams in
the key countries in which it operates (United States, Mexico, Brazil, Italy, Greece, The
Netherlands, Russia, India, Australia, Japan, Spain, France, Germany and the UK), thus moving its
structures closer to the key markets. The Group improved its sales planning and applied selective
distribution, using the approach adopted by the luxury brands.
Improvements were made to the structure serving emerging markets, which has already moved
quickly to exploit the strong growth prospects in this region.
The wholesale division also improved its coverage of Eastern European markets. Offices opened
in Russia and Hungary now cover four fifths of this region. Similarly, the Group opened an office in
China to ensure a more efficient monitoring of the market and control over distribution. Direct
distribution was initiated in the important South Korean market.