LensCrafters 2009 Annual Report Download - page 13

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HISTORY | 11 <
FINANCIAL MARKETS
In 1990, Luxottica listed its American Depositary Shares ("ADSs") on the New York Stock Exchange. In 2000,
Luxottica’s stock was listed on Borsa Italiana’s electronic share market (MTA) and has been in Italy’s MIB 30
index (today FTSE MIB) since 2003.
ENTRY INTO RETAIL
In 1995, Luxottica acquired The United States Shoe Corporation, owner of LensCrafters, one of North
America’s largest optical retail chains. As a result, Luxottica became the world’s fi rst signifi cant eyewear
manufacturer to enter the retail market, thereby maximizing synergies with its production and wholesale
distribution and increasing penetration of its products through LensCrafters stores.
RAY-BAN
In 1999, Luxottica acquired Ray-Ban, one of the world’s best-known sunglass brand. Through this acquisi-
tion, the Company obtained crystal sunglass lens technology and the associated manufacturing capacity,
and upgraded its portfolio with brands like Arnette, REVO and Killer Loop.
After the acquisition of Ray-Ban, Luxottica engaged in powerful advertising campaigns to relaunch the
brand and restore its prestige, which had waned in the 1990s.
A DECADE OF GROWTH
After quickly and effi ciently integrating the businesses acquired from Bausch & Lomb, Luxottica resumed
its growth across its businesses and in their respective geographical regions. Helping in this growth were
new managers from the outside, especially CEO Andrea Guerra, who has led the Group since 2004, to-
gether with Leonardo Del Vecchio, who remained as Chairman.
Since 2000, Luxottica has strengthened its retail business by acquiring a number of chains, including
Sunglass Hut (2001), a leading retailer of premium sunglasses, OPSM Group (2003), a leading optical re-
tailer in Australia and New Zealand, and Cole National (2004), bringing with it another leading optical
retail chain in North America, Pearle Vision, and an extensive Licensed Brands store business. In 2005, the
Company began its retail expansion into China, where LensCrafters has since become a leading brand in
the high-end market. Since 2006, the Group has started to expand Sunglass Hut globally in high-potential
markets like the Middle East, South Africa, Thailand, India and the Philippines.
During this time, the wholesale segment has supported Luxottica’s new licensing agreements with an
increasing commitment to research, innovation, product quality and manufacturing excellence, while
distribution expanded in the direction of customer differentiation and emerging sales channels, such as
large department stores and travel retail.
OAKLEY
In 2007, Luxottica acquired California-based Oakley, a leading sport and performance brand, for US$ 2.1
billion. Oakley, a brand known and appreciated worldwide, owned the Oliver Peoples brand and a license
to manufacture and distribute the Paul Smith brand, as well as its own retail network of over 160 stores.