LensCrafters 2009 Annual Report Download - page 41

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39 <
KEY EVENTS
January
Luxottica Group and Tory Burch, an emerging American fashion and lifestyle brand, stipulated a new licens-
ing agreement to design, manufacture and globally distribute sun and prescription eyewear collections by
Tory Burch and TT.
Effective as of January 1, 2009, the agreement has an initial term of six years and automatic renewal for
another four. The fi rst collection was presented in the summer of 2009 and marketed in autumn.
May
Luxottica and Multiopticas Internacional, a company which owns more than 390 eyewear stores in Chile,
Peru, Ecuador and Colombia under the GMO, Econoptics and SunPlanet brands, entered into an agree-
ment pursuant to which Luxottica acquired a 40% participation in Multiopticas Internacional. The agree-
ment was strengthened by a signifi cant consolidation in commercial relations between the two groups. By
means of this operation - valuated at approximately Euro 40 million - Luxottica will enter the retail market of
South America, a region in which it is already strongly present in the wholesale division, thereby represent-
ing an excellent growth opportunity.
August
The Group signed an agreement with Myer, the Australian leader in the distribution sector, to roll out a
unique Sunglass Hut retail concept to all 65 Myer stores accross Australia. In particular, specially designed
Sunglass Hut store concepts were introduced in 30 Myer stores by November 2009. The additional 35
concepts, also managed by Sunglass Hut, will be introduced over the next month.
October
Luxottica signed two agreements which provide for a further expansion of Sunglass Hut - the primary glo-
bal chain specialized in the "sunglasses" sector - in the Asia-Pacifi c region; this will be achieved by entering
the markets of the Philippines and strengthening in South Africa. In particular, Luxottica signed a franchis-
ing agreement with Meera Enterprises Inc. - the primary local operator for the distribution of sports and
lifestyle products - in the Philippines; the agreement provides for the opening of eight Sunglass Hut stores
within 2010 and marks the entry of the Group into the retail sector of a market with high growth potential. In
South Africa, Luxottica signed an agreement with Edgars Department Stores, the most consolidated chain
of department stores of the country, with more than 150 sales points; the agreement provides for the roll
out, even in 2009, of 24 new Sunglass Hut sales points within major Edgars department stores.
December
Macy’s Inc. and Luxottica signed an agreement which provides for the opening of approximately 430 ad-
ditional Sunglass Hut sales points within Macy’s department stores in the United States. The total number
of Sunglass Hut stores within Macy’s department stores will therefore increase to 670. In particular, the plan
for opening Sunglass Hut sales points will be initiated in the spring of 2010 and will be completed by the
spring of 2011. Sunglass Hut will be the exclusive operator of Macy's in-store sunglass department while
the latter will be the exclusive US department stores with Sunglass Hut locations.
Luxottica and drugstore.com, Inc. - the leader in the online commerce of beauty, pharmaceutical and
ophthalmological products - signed a multi-year strategic agreement for the e-commerce of contact lenses
in North America.