LensCrafters 2014 Annual Report Download - page 32

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
Acquired by Luxottica in 2013, Alain Mikli is not simply the
name of an eyewear brand, it also represents over 35 years of
passion and know-how. Since 1978, the designer Alain Mikli
recognized that vision correction was not merely a solution for
a medical condition but could also be a means to communicate
style and trends. His idea is simple but revolutionary: add style
to a necessity, and transform a need into a sign of personality.
The frames to see as well as to be seen.
Licensed brands
Designer lines are produced and distributed through license
agreements with major fashion houses. These agreements
are exclusive contracts which typically have terms of between
four 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 6% to 14% of the net
sales of the related collection and a mandatory marketing
contribution of between 5% and 10% of sales.
Prada is the most significant license in Luxottica’s portfolio
as measured by total sales. In 2014, sales realized through
the Prada, Prada Linea Rossa and Miu Miu brand names
together represented approximately 4% of total sales.

Under license since 2013, the Armani Group includes the
following collections:

The Giorgio Armani brand’s incomparable sense of style
is timeless and consistent. Armani’s vision of the world
of creative design is not about turning heads, but about
leaving a lasting impression, so that the brand’s aesthetic
becomes an outward expression of the normality of
sophistication. Pure lines, intrinsic elegance and care for
details are the elemental concepts underlying all of Giorgio
Armani’s iconic designs as well as of its eyewear styles.

Created at the beginning of the 80’s by Giorgio Armani,
this label addresses the needs of trendy customers who
love the Armani DNA. Armani’s core elements are revisited
in a modern take on fresh style, with innovative and trendy
colorful designs that are distinguished by contemporary
lines, shapes and materials.
2014 ANNUAL REVIEW
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