LensCrafters 2010 Annual Report Download - page 12

ANNUAL REPORT 2010> 10 |
Luxottica is a global leader in the design, manufacture and distribution of fashion, luxury, sport and performance eyewear.
Thanks to the strong growth enjoyed throughout 2010, total net sales reached a record Euro 5.8 billion, net income
increased to more than Euro 400 million, headcount approximated 62,000 employees and the Company enjoyed a strong
global presence.
Founded in 1961 by Leonardo Del Vecchio, the Group is now a vertically integrated organization whose manufacturing
of prescription frames, sunglasses and lenses is backed by a wide-reaching wholesale and retail distribution network
comprising 6,350 retail locations, as of December 31, 2010, mostly in North America, Asia-Pacific and China.
Product design, development and manufacturing take place in six production facilities in Italy, two wholly owned factories
in China and two sports sunglasses production facilities in the United States. Luxottica also has a small plant in India
serving the local market. In 2010, production reached approximately 56.6 million units.
The design and quality of our products and the strong and well-balanced brand portfolio are known around the world.
House brands include Ray-Ban, one of the world’s best-known sun brands, Oakley, Vogue, Persol, Oliver Peoples, Arnette
and REVO, and the license brands include Bvlgari, Burberry, Chanel, Dolce & Gabbana, Donna Karan, Polo Ralph Lauren,
Paul Smith, Prada, Stella McCartney, Tiffany, Tory Burch, Versace and, starting from 2012, Coach.
The Group’s wholesale distribution network, covering 130 countries across five continents, has 18 distribution centers and
over 40 commercial subsidiaries providing direct operations in key markets. The Group is currently seeking to penetrate
emerging markets and is exploring new channels of distribution such as department stores, airports and railway stations.
Direct wholesale operations are complemented by an extensive retail network. Luxottica is a leader in the prescription
business in North America with its LensCrafters and Pearle Vision retail brands, in Asia-Pacific with OPSM, Laubman & Pank
and Budget Eyewear, and in China with LensCrafters. In the retail sun business, the Group operates approximately 2,480
retail locations in North America, Asia-Pacific, South Africa, Europe and the Middle East, mainly through the Sunglass Hut
brand.
In North America, Luxottica operates the points of sale for its licensed brands, with over 1,140 stores under the Sears
Optical and Target Optical brands. In addition, Luxottica is one of the largest Managed Vision Care operators in the
United States, through EyeMed, and the second biggest lens finisher, having a network of five central laboratories and
over 900 on-site labs at LensCrafters stores.
The Oakley brand provides a powerful wholesale and retail (“O stores”) presence in both the performance optics and the
sport channels. In the O store locations, the Group offers a variety of Oakley-branded products in addition to the Oakley
sunglass styles. Oakley-branded products include men’s and women’s apparel, footwear, backpacks and accessories
designed for surf, snow, golf, outdoor, motor sport, mountain bike and other athletic lifestyles.
In 2010, Luxottica distributed approximately 20.4 million prescription frames and approximately 38.4 million sunglasses,
in approximately 5,900 different styles.
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