Dab solver - Luxottica

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=== Retail ===

Luxottica Retail has more than 7,000 retail locations in the United States, South America, Canada, China, Australia, New Zealand, South Africa, Israel, the United Kingdom and United Arab Emirates.^ref The headquarters of the retail division is in [[Mason, Ohio]].^ref Their retail banners include: 
{{Multicol}}
* [[Sunglass Hut International]]
* [[LensCrafters]]
* [[Pearle Vision]]
* [[Pearle Opticians]]
* [[Sears Optical]]
{{Multicol-break}}
* [[Target Corporation|Target]] Optical
* [[OPSM]]
* ILORI
* [[Bright Eyes Sunglasses|Bright Eyes]]
* Budget Eyewear
* Cole Vision Care
{{Multicol-break}}
* Optical Shop of Aspen
* Surfeyes
* Laubman & Pank
* 
* Grand Optics LLC
{{Multicol-end}}

==  Medical managed care  ==

Luxottica also owns EyeMed Vision Care, a managed vision care organization in the United States.^ref As of 2012, it is the second largest vision benefits company in the United States.^ref^ref

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{{Infobox company
 | name = Luxottica Group S.p.A.
 | logo = [[Image:Luxottica.svg|210px]]
 | type = [[Società per azioni]] 
 | traded_as = {{ISE|IT0001479374|LUX}}, {{nyse|LUX}}
 | foundation = Agordo, Italy, in 1961
 | location_city = Milan
 | location_country = Italy
 | area_served = Worldwide
 | key_people = [[Leonardo Del Vecchio]] (Founder and [[Chairman]]), Andrea Guerra ([[chief executive officer|CEO]])
 | industry = [[Eyewear]], [[fashion]], [[luxury good|luxury]], [[manufacturing]], [[retailing|retail]], [[wholesale|wholesale distribution]]
 | products = [[Sunglasses]], spectacle frames, prescription frames
 | services = [[Optician]]s, optical retail, sun retail
 | revenue = €6,222 million (2011)<ref name="AR2011">{{cite web |url=http://www.luxottica.com/export/sites/default/shared/files/investors/2012_05_09_Annual_report_2011_NO_GLOSSY.pdf |title=Annual Report 2011 |accessdate=20 July 2012 |publisher=Luxottica }}</ref>
 | operating_income = €807.0 million (2011)<ref name="AR2011" />
 | net_income = €452.0 million (2011)<ref name="AR2011" />
 | assets = €8,644 million (2011)<ref name="AR2011" />
 | equity = €3,625 million (2011)<ref name="AR2011" />
 | num_employees = 65,611 (2011)<ref name="AR2011" />
 | divisions =
 | subsid =
 | homepage = {{URL|luxottica.com}}
 | intl = yes
}}
'''Luxottica Group S.p.A.''' is the world's largest [[glasses|eyewear]] company.<ref>{{cite news|url=http://www.nytimes.com/2007/06/21/business/21glasses.html?ref=luxotticagroupspa |title= Luxottica to Buy a U.S. Sunglasses Maker |work=in The New York Times June 21, 2007 | date=2007-06-21}}</ref> Its best known brand is [[Persol]]. 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.<ref>[http://online.wsj.com/article/SB10001424052748704518904575365362932852610.html Brett Arends, "Are Designer Sunglasses Worth the Price?", ''Wall Street Journal'', July 22, 2010].</ref> Its prime competitor is the [[Safilo|Safilo Group S.p.A]].

==History==
[[File:Luxottica Headquarters Milan.jpg|left|thumb|Luxottica headquarters in Milan]]
[[Leonardo Del Vecchio]] started the company in 1961,<ref>{{cite news|url=http://www.forbes.com/profile/leonardo-del-vecchio |title= World's Billionaires Leonardo Del Vecchio |publisher=Forbes March, 2011}}</ref> in [[Agordo]] north of [[Belluno]], Italy; today the company is headquartered in [[Milan]].

Del Vecchio began his career as the apprentice to a tool and die maker in Milan, but decided to turn his metalworking skills to making spectacle parts. So in 1961 he moved to Agordo in the [[province of Belluno]], which is home to most of the Italian eyewear industry.<ref name="history">{{cite web|url=http://www.luxottica.com/en/company/history|title=Luxottica Past and Present|publisher=Luxottica Group S.p.A.|accessdate=2009-11-02}}</ref> The new company was Luxottica s.a.s., a limited partnership with Del Vecchio as one of the founding partners.<ref name="history"/> In 1967 he started selling complete eyeglass frames under the Luxottica brand, which proved successful enough that by 1971 he ended the contract manufacturing business.<ref>{{cite web|url=http://www.borsaitaliana.it/mediasource/star/db/pdf/17895.pdf |title= Santander research |publisher= Borsa Italiana 2003}}</ref>

Convinced of the need for [[vertical integration]], in 1974 he acquired Scarrone, a distribution company.<ref name="history"/> In 1981 the company set up its first international subsidiary, in Germany, the first in a rapid period of international expansion.<ref name="history"/> The first of many licensing deals with a designer was struck with Armani, in 1988.<ref>{{cite web|url=http://www.pambianconews.com/The-Armani-Group-and-the-Luxottica-Group-announce-expiration-of-licence-agreement/ |title= The Armani Group and the Luxottica Group announce expiration of licence agreement |work=in Pambianco News November 21, 2002}}</ref>

The company listed in New York in 1990,<ref>{{cite web|url=http://www.nyse.com/listed/lux.html |title= Luxottica Group S.p.A. |publisher= NYSE, New York Stock Exchange}}</ref> and in Milan in December 2000,<ref>{{cite web|url=http://www.borsaitaliana.it/borsa/azioni/ipo/ultime-societa-ammesse-dettaglio.html?ndg=491&lang=en |title= Luxottica|publisher= Borsa Italiana}}</ref> joining the MIB-30 (now [[S&P/MIB]]) index in September 2003.<ref>{{cite web|url=http://syndication.teleborsa.it/Nis/NisViewer.ashx?file=0491-56-2003.pdf&year=2003&filetype=comunicati |title= Luxottica Group Added to MIB 30 Index |publisher=Syndication Teleborsa 22, 2003}}</ref> 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.<ref name="history"/> Luxottica later increased its presence in the retail sector by acquiring [[Sydney]]-based [[OPSM]] in 2003, [[Pearle Vision]] and Cole National in 2004.<ref name="facts and figures">{{cite web|url=http://www.luxottica.com/en/retail/facts_figures/ |title=Luxottica Facts and Figures |publisher=Luxottica Group S.p.A.|accessdate=2011-08-10}}</ref>

The company also acquired [[Oakley, Inc.|Oakley]] in a US$2.1bn deal in November 2007,<ref>{{cite web|url=http://syndication.teleborsa.it/Nis/NisViewer.ashx?file=0491-117-2007.pdf&year=2007&filetype=comunicati |title=Luxottica Group and Oakley complete merger |publisher=Syndication Teleborsa, 2007}}</ref> and in August 2011 Erroca for €20 million.<ref>{{cite web|url=http://www.globes.co.il/serveen/globes/docview.asp?did=1000671153&fid=1725 |title= Luxottica buys Erroca sunglasses chain for €20m |work=in Globes September 13, 2011}}</ref>

===Brands===
[[File:Persol sunglasses.jpg|right|thumb|Persol sunglasses]]
[[File:Ray-Ban sunglasses.jpg|right|thumb|Ray-Ban sunglasses]]
Luxottica's two main product offerings are sunglasses and prescription frames. The company operates in two sectors: manufacturing & wholesale distribution, and retail distribution.<ref name="bloomberg">{{cite web|url=http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=326054 |title=Luxottica S.p.A |publisher=Bloomberg Businessweek|accessdate=2011-08-10}}</ref>

The house brands include:<ref name="reuters">{{cite news|url=http://www.reuters.com/finance/stocks/companyProfile?rpc=66&symbol=LUX |title=Luxottica Group S.p.A |work=in Reuters|accessdate=2011-08-10}}</ref><ref name="house brands">{{cite web|url=http://www.luxottica.com/en/brands/house_brands/index.html#ray-ban |title=Luxottica House Brand |publisher=Luxottica Group S.p.A.|accessdate=2011-08-10}}</ref>
{{Col-list|type=ul|pos=start
| Arnette
| Eye Safety Systems (ESS)
| K&L (formerly Killer Loop)
| Luxottica
| Mosley Tribes
| [[Oakley, Inc.|Oakley]]
}}
{{Col-list|type=ul|pos=end
| [[Oliver Peoples]]
| [[Persol]]
| [[Ray-Ban]]
| Revo
| Sferoflex
| Vogue
}}
The company also creates eyewear under license for designer labels such as:<ref name="reuters"/><ref>{{cite web|url=http://www.luxottica.com/en/brands/license_brands/# |title=Luxottica License Brands|publisher=Luxottica Group S.p.A.|accessdate=2012-04-12}}</ref>
{{Col-list|type=ul|pos=start
| [[Anne Klein]]
| [[Armani]]<ref name="Armani">{{cite press_release | url=http://www.luxottica.com/en/media/press_releases/archive/ir/2012_06_08_GIORGIO_ARMANI_LUXOTTICA_ENG.html | title=Armani Group and Luxottica sign exclusive license agreement | publisher=Luxottica | date=June 8, 2012 | accessdate=February 16, 2013}}</ref>
| [[Brooks Brothers]]
| [[Bulgari]]
| [[Burberry]]
| [[Chanel]]
| Chaps
| [[Coach, Inc.|Coach]]
}}
{{Col-list|type=ul
| [[Dolce & Gabbana]]
| [[DKNY]]
| [[Donna Karan|Donna Karan eyewear]]
| Fox Eyewear
| [[Miu Miu]]
| [[Polo Ralph Lauren]]
| [[Paul Smith (fashion designer)|Paul Smith Spectacles]]
| [[Prada]]
}}
{{Col-list|type=ul|pos=end
| [[Ralph Lauren Corporation|Ralph Lauren Purple Label]]
| [[Ralph Lauren]]
| Reed Krakoff
| [[Stella McCartney]]
| [[Tiffany & Co.]]
| [[Tory Burch]]
| [[Versace]]
| [[Versace|Versus]]<ref name="Versus">{{cite web | url=http://www.luxottica.com/en/brands/license_brands/versus/ | title=Versus | publisher=Luxottica | work=License Brands | accessdate=February 16, 2013}}</ref>
}}
The most recent deal was with [[Tory Burch]]. These brands are sold in the company's own shops, as well as to independent distributors such as department stores, [[duty-free shop]]s and opticians.

===Retail===
Luxottica Retail has more than 7,000 retail locations in the United States, South America, Canada, China, Australia, New Zealand, South Africa, Israel, the United Kingdom and United Arab Emirates.<ref name="facts and figures"/> The headquarters of the retail division is in [[Mason, Ohio]].<ref name="facts and figures"/> Their retail banners include: 
{{Multicol}}
* [[Sunglass Hut International]]
* [[LensCrafters]]
* [[Pearle Vision]]
* [[Pearle Opticians]]
* [[Sears Optical]]
{{Multicol-break}}
* [[Target Corporation|Target]] Optical
* [[OPSM]]
* ILORI
* [[Bright Eyes Sunglasses|Bright Eyes]]
* Budget Eyewear
* Cole Vision Care
{{Multicol-break}}
* Optical Shop of Aspen
* Surfeyes
* Laubman & Pank
* <<link:0>>
* Grand Optics LLC
{{Multicol-end}}

== Medical managed care ==
Luxottica also owns EyeMed Vision Care, a managed vision care organization in the United States.<ref>{{cite web|url=http://www.eyemedvisioncare.com/about/position.html |title=Our Position in the Industry |publisher=EyeMed Vision Care|accessdate=2011-08-10}}</ref> As of 2012, it is the second largest vision benefits company in the United States.<ref>[http://www.luxottica.com/en/activities/managed_vision_care/ "Activities: Managed Vision Care"], Luxottica website</ref><ref name="SIXTYMINUTES2012">{{cite news|title=Sticker shock: Why are glasses so expensive?|url=http://www.cbsnews.com/8301-18560_162-57527151/sticker-shock-why-are-glasses-so-expensive/|newspaper=[[60 Minutes]]|publisher=[[CBS News]]|date=October 7, 2012|accessdate=October 19, 2012}}</ref>

==Criticism==

A 2012 ''[[60 Minutes]]'' segment focused on the whether the company's extensive holdings in the industry was used to keep prices high. Luxottica, owns not only a large portfolio of brands such as Ray-Ban and [[Oakley, Inc.|Oakley]] but retailers like [[Sunglass Hut International|Sunglass Hut]] and [[Oliver Peoples]], as well as the optical departments at [[Target (store)|Target]] and [[Sears]]. In addition, by owning the vision insurance company EyeMed, it controlled a portion of the buyers' side of the market as well.<ref name=SIXTYMINUTES2012 /> CEO Guerra claimed Luxottica did indeed have competitors at the retail level in the American market, such as [[Walmart]], [[Costco]] and [[Warby Parker]].<ref name=SIXTYMINUTES2012 />

==Financial performance*==

{| class="wikitable"
|-
! Year 
! Net sales (K€)
! Operative income (K€)
! Net income (K€) - Net Income attributable to Luxottica Group Stockholders
|-
| 2011
| 6,222,483
| 807,140
| 452,343
|-
| 2010
| 5,798,035
| 712,158
| 402,187
|-
| 2009
| 5,094,318
| 571,085
| 299,122
|-
| 2008
| 5,201,611
| 731,639
| 390,167
|-
| 2007
| 4,966,054
| 833,264
| 489,850
|}
''* data retrieved from [http://www.luxottica.com/en/investors/financial_overview/compared_data/ Luxottica website]''

==Major shareholders==
The list of Luxottica shareholders with more than 2% of holdings, represented by voting shares at April 28, 2011.<ref>[http://www.luxottica.com/en/investors/shareholders_capital/ "Major Shareholders"], Luxottica website</ref><ref>{{cite web|url=http://www.borsaitaliana.it/borsa/azioni/profilo-societa-dettaglio.html?isin=IT0001479374&lang=en|title=Luxottica|publisher=Borsa Italiana}}</ref>

• Delfin S.a.r.l. 66.16% 
• Giorgio Armani 4.85% 
• Treasury Shares 1% 
• Other shareholders < 2% 28%

In September 2012, Delfin S.a.r.l. reduced its share of Luxottica from 66% to 62.1%.<ref>Mesco, Manuela, [http://www.marketwatch.com/story/delfin-cuts-luxottica-stake-to-621-from-66-2012-09-06 "Delfin cuts Luxottica stake to 62.1% from 66%"], ''[[MarketWatch]]'', Sept. 6, 2012</ref>

==References==
{{Reflist|2}}

==External links==
{{Portal|Italy|Companies}}

*{{official website|http://www.luxottica.com}}

[[Category:Companies listed on the New York Stock Exchange]]
[[Category:Luxottica| ]]
[[Category:Eyewear retailers]]
[[Category:Clothing companies of Italy]]
[[Category:Italian brands]]
[[Category:Luxury brands]]
[[Category:Fashion accessory brands]]
[[Category:High fashion brands]]
[[Category:Warren County, Ohio]]
[[Category:Companies established in 1961]]
[[Category:1961 establishments in Italy]]
[[Category:Companies based in Milan]]
[[Category:Multinational companies headquartered in Italy]]

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Dab solver - Luxottica

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