LensCrafters 2010 Annual Report Download - page 7

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CHAIRMAN’S LETTER
TO SHAREHOLDERS
CHAIRMAN’S LETTER
TO SHAREHOLDERS
Dear Shareholders,
2010 was a year filled with great satisfaction for Luxottica and it has shown us that success is possible through innovation,
investment, determination, simplicity and speed.
Luxottica enjoyed strong growth throughout all quarters of the year, both in terms of sales and profitability. The pillars of
our business model — a highly efficient production system and a worldwide wholesale and retail network — have proven,
once again, to be extremely solid. In 2010, both our divisions posted excellent results, thanks to the exceptional work
carried out.
All our brands — lead by Ray-Ban, Oakley, LensCrafters and Sunglass Hut — and geographic areas — from the US to the
Emerging Markets - made a major contribution to the results: consolidated net sales for fiscal year 2010 therefore reached
the unprecedented figure of almost Euro 5.8 billion — never before seen in the history of Luxottica.
Net income topped the Euro 400 million mark again and amounted to Euro 402.7 million, up 34.6% when compared to
2009. An extremely positive result, which we are pleased to share with all of our shareholders by means of a dividend equal
to Euro 0.44 per share, a 25.7% increase compared to the previous year.
Over the last few years, a structural reset of the world economy took place. Luxottica was able to strengthen its position
as a leader in eyewear, while we learned some lessons about the importance of innovation and new technologies on one
hand, and of open-mindedness on the other hand.
In a more and more connected world, new technologies provide us with great opportunities to promote our brands, to
establish stronger relationships with our consumers, and to provide best-in-class products and services.
Emerging Markets are a formidable driving force: China, India, Brazil, Mexico, South-East Asia and Latin America are
going to become more and more important for future growth. In order to succeed in these regions, it is mandatory to
invest not only in infrastructure but foremost in people, having in mind that we must behave as citizens of the world.
The results achieved in 2010 and the strength of Luxottica’s business model and of its brands put the Group in an ideal
position to continue throughout 2011 with solid, stable growth in net sales and a more than proportionate increase in
profitability.
2011 is a particularly important year for Luxottica, as it is the 50th anniversary since its founding. I believe that it will be
another year filled with success.
During these first 50 years, we have dedicated passion, imagination, research and innovation to produce and sell the best
eyewear possible, I do believe that these characteristics are the best starting point for the next 50 plus years of success.
The year just passed was also very important for our OneSight Foundation, whose efforts are more and more appreciated
in all the regions where it operates.
OneSight is an initiative of which we are particularly proud and we identify with. We applaud the efforts put forth by
Luxottica volunteers — the recovery of eyewear, participation in clinics which distribute eyewear free of charge, the
prevention of eyesight diseases and support for research - which contribute to visual health and quality of life of individuals
around the world, both of which are priority objectives for Luxottica.
April 2011
Leonardo Del Vecchio
Chairman