LensCrafters 2011 Annual Report Download - page 9

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Dear Shareholders,
2011 was a particularly important year in Luxottica’s history – we celebrated our 50th anniversary and also laid the foundation for
stable and long-lasting future growth.
Luxottica’s growth trend continued throughout 2011 with the Group achieving record net sales and a more than proportional
improvement in pro tability over the prior year’s results. Both the Wholesale and Retail Divisions and all our house brands – from
Ray-Ban to Oakley and LensCrafters to Sunglass Hut – made signi cant contributions to these results. Exceptional work by our
businesses in various regions including the United States, emerging markets and Europe were drivers of Luxottica’s successful
2011 performance.
Net sales in 2011 reached an all-time high for Luxottica at Euro 6.22 billion and net pro ts grew to more than Euro 452 million,
an improvement of about 13% compared to the previous year. As a result of these extremely favorable results, Luxottica is in a
position to distribute a dividend of 0.49 Euro for each ordinary share to stockholders, an increase of 11.4%.
The results achieved in 2011 were due to the strong commitment embraced by the entire global organization as well as the careful
planning and impeccable execution that constitute the basis of Luxottica’s long-term growth.
During the year, we increased our investments for growth by approximately 30% by expanding our retail chains, further strengthening
our brand portfolio, increasing production capacity and improving technology platforms. We have the opportunity, in the next
few years, to serve 2 billion potential new consumers worldwide and we aim to face this challenge with great enthusiasm and
determination. Simplicity and speed, along with an ability to adapt and evolve rapidly, have always represented Luxottica’s core
characteristics and will continue to be key to our future success.
In the past few years the international economic landscape has signi cantly changed, for example, countries which once were
de ned as “emerging” are now some of the most signi cant at a global level and represent economies with a high growth
rate. The “new” emerging countries are, in certain respects, geographically diverse but rich with opportunities. Success in these
countries requires ongoing investment, not only in infrastructure but also importantly in culture and people and the attitude and
objective to be true “citizens of the world.”
In the past  ve years, Luxottica has invested more than Euro 3 billion in its growth, reinforcing its position in a unique and decisive
manner and as a result of its world-class products and an ability to establish a relationship of trust with customers and consumers.
The results achieved in 2011, along with the indisputable power of Luxottica’s business model and its iconic brands place the
Group in an optimal position to continue along this path of solid and stable growth in 2012.
2011 was a particularly important year for our OneSight Foundation, of which we are especially proud. In fact, at precisely the
same time in 2011 as Luxottica was celebrating its  ftieth anniversary milestone, OneSight was helping its eight-millionth patient
living in South Africa.
OneSight exhibits Luxottica’s characteristics in the best way possible: imagination, passion, entrepreneurship, simplicity and
speed. Without embracing these values, it would not be possible to help people successfully in the way our Foundation does
throughout the world. OneSight is a daily reminder that sight is a gift that is too often ignored and that helping others should be
one of our priorities.
April 2012
Chairman’s฀letter฀
to฀shareholders
Leonardo Del Vecchio
Chairman