LensCrafters 2008 Annual Report Download - page 37

Download and view the complete annual report

Please find page 37 of the 2008 LensCrafters annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 120

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120

35 <
January
Luxottica Group renewed its license agreement with Chanel, thus extending an already solid relationship
dating back to 1999, when Chanel’s first prescription and sun collections were launched. The new
agreement aims to exploit new growth opportunities for this luxury brand.
April
The Group entered an exclusive license agreement to design, produce and globally distribute sun eyewear
for the Stella McCartney brand. Commencing on January 1, 2009, the agreement has an initial term of six
years and automatic renewal for another six. The first collection will be launched in summer 2009.
May
The Group signed a franchising agreement with the privately owned Diethelm Keller Limited enabling
Sunglass Hut to begin operations in Thailand’s promising sun eyewear market. The partnership will open
15 new stores to add to the existing 216 Sunglass Hut retail locations in the Asia-Pacific region.
June
Luxottica US Holdings, a subsidiary, made a private placement of three series of bonds, totaling US$ 275
million, maturing in 2013, 2015 and 2018 respectively. The proceeds of the issue were used to repay part
of a bridge loan that was used to finance a portion of the Oakley acquisition.
July
Successful conclusion of Oakley’s integration in Europe. Following Italy, Spain, Portugal, Scandinavia, The
Netherlands and Belgium, operations in Germany, Austria, Switzerland and France also became fully
integrated. A new headquarters was opened in Zurich to manage the sports distribution channel in
Europe.
November
Thanks to the new franchising agreement with DLF, a leading property developer in India, Sunglass Hut
made a start in the Indian retail market. The agreement provides for the opening of over 100 stores
throughout the country, mostly in premium shopping malls and other prestige locations.
December
Launch of OneSight, the new foundation who integrate the experience of Luxottica Group’s various
philanthropy programs. OneSight will channel resources and energy into aid for the needy, through
recycling, reconditioning and distribution of used eyewear by international and local missions, community
assistance and support for vision-related research.
KEY EVENTS