LensCrafters 2010 Annual Report Download - page 14

ANNUAL REPORT 2010> 12 |
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.
EXPANSION IN RETAIL DISTRIBUTION
In 1995, Luxottica acquired The United States Shoe Corporation, which owned LensCrafters, one of North America’s
largest optical retail chains. As a result, Luxottica became the world’s first significant 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 brands. Through this acquisition, the Company
obtained crystal sunglass lens technology and the associated manufacturing capacity, and upgraded its portfolio with
brands like Arnette, REVO and Killer Loop.
A DECADE OF GROWTH
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 retailer in Australia and New Zealand and
Cole National (2004), which brought with it another leading optical retail chain in North America, Pearle Vision, and an
extensive Licensed Brands store business. In 2006, the Company began its retail expansion into China, where LensCrafters
has since become a leading brand in the country’s high-end market. In the same year the Group also started to expand
Sunglass Hut globally in high-potential markets like the Middle East, South Africa, Thailand, India, Philippines and Latin
America.
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 continuing to focus the
distribution expansion on 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. Oakley is known and
appreciated worldwide, with 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.
During 2010, Oakley introduced new and innovative products including: sunglasses characterized by a new special lifestyle
design and composed of an aerospace aluminum alloy and 3D eyewear that achieves visual clarity while extending the
wearer’s peripheral viewing angle while providing truer alignment of 3D images.