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Luxottica

The Italian firm is the world's largest optical company and holds eyewear licensing agreements with many major brands.

Vital statistics

  • 1961 Established
  • Public Type
  • > 10,000 Number of employees
  • €7.1 billion (2012) Revenue
  • 7,000 Stores
  • Milan, Italy HQ

Key people

  • Andrea Guerra Chief Executive
  • Luigi Francavilla Vice Chairman
  • Leonardo Del Vecchio Founder & Chairman

Company Snapshot

Company Snapshot

Luxottica Group S.p.A. is the world's largest eyewear company, controlling over 80% of the world's major eyewear brands. Its best known brands are Ray-Ban, Persol and Oakley. It also makes sunglasses and prescription frames for a multitude of designer brands such as Chanel and Prada, whose designs and trademarks are used under license. Luxottica also makes sunglasses branded Giorgio Armani, Burberry, Stella McCartney, Versace, Vogue, Miu Miu, Tory Burch, and Donna Karan. Its prime competitor is the Safilo Group S.p.A.

Leonardo Del Vecchio started the company in 1961, in Agordo north of Belluno, Italy; today the company is headquartered in Milan.

The company listed in New York in 1990, and in Milan in December 2000, joining the MIB-30 (now S&P/MIB) index in September 2003. The listing raised money for the company and allowed it to use its shares to acquire other brands, starting with Italian brand Vogue in 1990, Persol and US Shoe Corporation (LensCrafters) in 1995, Ray-Ban in 1999 and Sunglass Hut, Inc. in 2001. Luxottica later increased its presence in the retail sector by acquiring Sydney-based OPSM in 2003, Pearle Vision and Cole National in 2004.

The company also acquired Oakley in a US$2.1 billion deal in November 2007, and in August 2011 Erroca for €20 million.

In March of 2014, it was announced that Luxottica would partner with Google on the development of Google Glass and its integration into Luxottica's eyewear.

Source: Wikipedia

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