LensCrafters 2015 Annual Report Download - page 7

Management Report as of December 31, 2015 Page 3 of 35
On May 19, 2015, the Company announced the grant of free treasury shares to the Group’s employees in Italy in honor of
the 80th birthday of its Chairman and Founder, Mr. Leonardo Del Vecchio. This share award is a gift from the Founder with
an aggregate amount of 119,755 Luxottica Group treasury shares distributed. Delfin S.a.r.l. assumed all costs and expenses
of the share grant.
June
On June 25, 2015, the Company signed an agreement to enhance the market liquidity of its shares in compliance with
CONSOB’s market practices permitted under resolution no. 16839 adopted on March 19, 2009 regarding activity to support
market liquidity. The agreement is between the Company and Kepler Capital Markets SA, as Intermediary.
July
On July 1, 2015, the Series B Senior Unsecured Notes issued in a private placement by Luxottica U.S. Holdings Corp.
matured and were fully repaid in the amount of U.S.$ 127.0 million.
On July 29, 2015, the Company and Burberry Group announced the renewal of an exclusive license agreement for the
development, production and worldwide distribution of sunglasses and prescription frames under the Burberry name. The
10-year agreement will extend to December 31, 2025.
November
On November 10, 2015, notes issued in a private placement issued on November 10, 2010 matured and were fully repaid in
the amount of Euro 500.0 million.
December
On December 16, 2015, the Company and Dolce&Gabbana announced the renewal of an exclusive license agreement for
the development, production and worldwide distribution of sunglasses and prescription frames under the Dolce&Gabbana
brand. The agreement was extended to December 31, 2025.
3. FINANCIAL RESULTS
We are a global leader in the design, manufacture and distribution of fashion, luxury and sport eyewear, with net sales
reaching Euro 8.8 billion in 2015, approximately 79,000 employees and a strong global presence. We operate in two
industry segments: (i) manufacturing and wholesale distribution; and (ii) retail distribution. See Note 5 of the Notes to the
Consolidated Financial Statements as of December 31, 2015 for additional disclosures about our operating segments.
Through our manufacturing and wholesale distribution segment, we are engaged in the design, manufacture, wholesale
distribution and marketing of proprietary and designer lines of mid- to premium-priced prescription frames and sunglasses.