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Company Description

Contact Info

PIAZZALE CADORNA, 3

Milan, MI 20123

Italy

Phone: 39 02 863 341

Fax:

Luxottica Group S.p.A. designs, manufactures and distributes fashion, luxury, sport and performance eyewear. The company operates as a subsidiary of Delfin S.à r.l. Segments The company operates in two segments, Manufacturing and Wholesale Distribution, and Retail Distribution. Manufacturing and Wholesale Distribution This segment engages in the design, manufacturing, wholesale distribution and marketing of proprietary brands and designer lines of mid- to premium-priced prescription frames and sunglasses, as well as of performance optics products. Retail Distribution As of December 31, 2015, this segment owned and operated 6,589 retail locations worldwide and franchised an additional 676 locations principally through its subsidiaries, such as Luxottica Retail North America, Inc.; Sunglass Hut Trading, LLC; OPSM Group Limited; Oakley Inc. (Oakley); and Multiópticas Internacional S.L. The company’s proprietary brands include Ray-Ban, Oakley, Vogue Eyewear, Persol, Oliver Peoples, Alain Mikli and Arnette. Its licensed brands include Giorgio Armani, Bvlgari, Burberry, Chanel, Coach, Dolce&Gabbana, DKNY, Michael Kors, Miu Miu, Paul Smith, Prada, Ralph Lauren, Starck Eyes, Tiffany & Co., Tory Burch and Versace. The company’s wholesale distribution network covers approximately 150 countries across 5 continents and has approximately 50 commercial subsidiaries providing direct operations in key markets. The company’s direct wholesale operations were complemented by a retail network consisted of approximately 7,200 stores worldwide as of December 31, 2015. The company engages in the prescription business in North America with its LensCrafters and Pearle Vision retail brands; in Australia and New Zealand with its OPSM and Laubman & Pank brands; in China with its LensCrafters brand; and in Latin America with its GMO brand. In North America, the company also operates its retail licensed brands, Sears Optical and Target Optical. Additionally, the company operates one of the major managed vision care networks in the United States, through EyeMed; and the second major lens finishing network, with 3 central laboratories, approximately 900 on-site labs at LensCrafters stores, an Oakley lab and an additional facility based in China. Luxottica is home to Sunglass Hut, the major retailer of premium sunglasses with a global footprint in North America, Latin America, the Asia-Pacific, South Africa, Europe and the Middle East. Retail brands, including Oliver Peoples, ILORI and The Optical Shop of Aspen, give Luxottica a foothold in the luxury space. The Oakley brand provides a wholesale and retail presence in both the performance optics and sport channels with its ‘O’ stores, offering Oakley-branded eyewear, as well as apparel, footwear, backpacks and accessories designed for athletic lifestyles. The company’s distribution channels are complemented by e-commerce properties, including the Oakley.com, Ray-Ban.com, SunglassHut.com and glasses.com Websites. As of March 31, 2016, the company’s retail business consisted of 6,539 corporate stores and 696 franchised locations. Suppliers Essilor International is one of the major suppliers of the company’s global retail operations. Trademarks, Trade Names and Patents The company’s principal trademarks or trade names include Luxottica, Ray-Ban, Oliver Peoples, Oakley, Persol, Vogue, Arnette, LensCrafters, Sunglass Hut, ILORI, Pearle Vision, OPSM, Laubman & Pank and the Oakley ellipsoid ‘O’ and square ‘O’ logos. As of March 31, 2016, the company held a portfolio of approximately 800 (mostly Oakley-related) patents worldwide that protect its designs and innovations. Seasonality The company has historically experienced sales volume fluctuations by quarter due to seasonality associated with the sale of sunglasses, which represented 55.85% of its sales in 2015. As a result, the company’s net sales are typically higher in the second quarter (year ended December 2015), which includes increased sales to wholesale customers and increased sales in its Sunglass Hut stores, and lower in the first quarter, as sunglass sales are lower in the cooler climates of North America, Europe and Northern Asia. Competition Some of the company’s major competitors in the design, manufacturing and wholesale distribution of prescription frames and sunglasses are De Rigo S.p.A.; Kering Eyewear S.p.A.; Marchon Eyewear, Inc.; Marcolin S.p.A.; Safilo Group S.p.A.; Silhouette International; Schmied AG; and Maui Jim, Inc. EyeMed has various competitors, including Vision Service Plan, Davis Vision and Spectera. The company competes against various major optical retailers in North America, including Wal-Mart and Visionworks. In Australia and New Zealand, the company competes against retail chains, including Specsavers. History Luxottica Group S.p.A. was founded in 1961.

 

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