Textiles, Apparel and Luxury Goods
Company Overview of Luxottica Group S.p.A.
Luxottica Group S.p.A., together with its subsidiaries, provides fashion, luxury, sports, and performance eyewear worldwide. It operates through two segments, Manufacturing and Wholesale Distribution, and Retail Distribution. The Manufacturing and Wholesale Distribution segment engages in the design, manufacture, wholesale distribution, and marketing of proprietary and designer lines of prescription frames and sunglasses, as well as performance optics products. This segment offers its products under proprietary brands, such as Ray-Ban, Oakley, Vogue Eyewear, Persol, Oliver Peoples, Alain Mikli, and Arnette; and licensed brands, including Giorgio Armani, Emporio Armani, Armani Exchange, Brook...
Piazzale L. Cadorna, 3
Milan, MI 20123
Founded in 1961
Key Executives for Luxottica Group S.p.A.
Founder, Executive Chairman, Chief Executive Officer and Executive President
Total Annual Compensation: €1.0M
Chief Executive Officer of Product & Operations and Director
Total Annual Compensation: €2.1M
Deputy Chairman, Chairman of Luxottica SRL and Managing Director of Luxottica SRL
Total Annual Compensation: €58.0K
Compensation as of Fiscal Year 2016.
Luxottica Group S.p.A. Key Developments
Luxottica Group Announces Intention To Voluntarily Delist From New York Stock Exchange
May 17 17
The Board of Directors of Luxottica Group S.p.A. decided to start the procedure to voluntarily delist its American Depositary Shares (ADSs), which are evidenced by American Depositary Receipts (ADRs), from the New York Stock Exchange. Luxottica intends to convert its current Level III ADR program into a Level I ADR program, which would give existing ADR holders the option to continue to hold ADRs. Level I ADRs are traded in the U.S. over-the-counter market. In connection with the delisting, Luxottica intends to apply to the U.S. Securities and Exchange Commission for the deregistration of its shares registered with the SEC and the termination of all its reporting obligations under the U.S. Securities Exchange Act of 1934. The Group's decision to delist from the NYSE is based on the following factors: (i) the trading of the Group's shares has shifted significantly to the Italian market. For the twelve months ended May 1, 2017, trading in the United States represented only 3.7% of Luxottica's worldwide average daily trading volume; (ii) maintaining a listing and registration in the United States entails significant administrative costs; and (iii) the delisting will also be efficient in light of the combination with Essilor. Luxottica expects to file a Form 25 with the SEC on or about June 6, 2017 to initiate the delisting. The delisting of the ADSs should become effective 10 days after such filing. However, the anticipated effective date of the delisting may be delayed if the SEC postpones the effectiveness of the application to delist or for other reasons. Following the effectiveness of the delisting from the NYSE, Luxottica intends to file with the SEC a Form 15F to deregister its shares with the SEC and terminate all its reporting obligations under the Exchange Act. Luxottica expects that its obligation to file reports with the SEC will be suspended immediately upon the filing of the Form 15F. Luxottica reserves the right to delay the filing of the Form 25 or Form 15F or withdraw either Form for any reason prior to its effectiveness.
Luxottica Group S.p.A. Approves Ordinary Cash Dividend, Payable on May 24, 2017
Apr 28 17
The shareholders of Luxottica Group S.p.A. approved an ordinary cash dividend in the amount of EUR 0.92 per share, equal to 50% of the adjusted, net income of the group, at the AGM held on April 28, 2017. The total dividend amount will be approximately EUR 440 million. The cash dividend will be payable on May 24, 2017 (the coupon detachment date will be May 22, 2017 pursuant to the Borsa Italiana calendar with a record date of May 23, 2017).
Luxottica Group SpA Reports Consolidated Sales Results for the First Quarter of 2017
Apr 28 17
Luxottica Group SpA reported consolidated sales results for the first quarter of 2017. For the period, the company reported net sales of €2,384 million against €2,266 million a year ago.
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