LensCrafters 2012 Annual Report Download - page 40

38 ANNUAL REVIEW 2012
BROOKS BROTHERS
Characterized by
lightweight materials and
a slender line, the Brooks
Brothers collections
reflect the iconic features
of the style of this
American brand. This is
an affordable product
line with classic style that
delivers functionality,
lightness and high quality.
The original license
agreement was entered
into in 1992.
BVLGARI
Extending its vision of
extraordinary beauty
to everyday objects,
Bulgari, under license
since 1997, applies the
same uncompromising
design and product
standards to its men’s
and women’s eyewear
collections, recapturing
fine handcrafting in ladies
collections and technical
innovation in gentlemen’s
styles.
BURBERRY
Since its founding in
England in 1856, Burberry
has been synonymous
with quality, as defined by
the endurance, classicism
and functionality that
characterized its history.
Burberry has become
a leading luxury brand
with a global business.
The eyewear collection,
LICENSED BRANDS
Designer lines are produced
and distributed through
license agreements with major
fashion houses. The license
agreements are exclusive
contracts which typically have
terms of between three and
ten years, and may contain
options for renewal for
additional periods. Under
these license agreements,
Luxottica is required to pay a
royalty ranging from 5% to 14%
of the net sales of the related
collection and a mandatory
marketing contribution of
between 5% and 10% of sales.
Prada and Dolce & Gabbana
are two significant licenses
in Luxottica’s portfolio as
measured by total sales. In
2012, sales realized through the
Prada, Prada Linea Rossa and
Miu Miu brand names together
represented approximately
3.9% of total sales, whereas
the sales realized through
the Dolce & Gabbana
group brands represented
approximately 2.6% of total
sales.