Annual Review 2012 - Luxottica
Annual Review 2012 - Luxottica
Annual Review 2012 - Luxottica
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Consolidated financial statements - NOTES<br />
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Notes<br />
<strong>Luxottica</strong> Group S.p.A. (the “Company”) is a corporation with a registered office in Milan,<br />
Italy, at Via C. Cantù 2.<br />
GENERAL<br />
INFORMATION<br />
The Company and its subsidiaries (collectively, the “Group”) operate in two industry<br />
segments: (1) manufacturing and wholesale distribution; and (2) retail distribution.<br />
Through its manufacturing and wholesale distribution operations, the Group is engaged<br />
in the design, manufacturing, wholesale distribution and marketing of house brand and<br />
designer lines of mid to premium priced prescription frames and sunglasses, as well as of<br />
performance optics products.<br />
Through its retail operations, as of December 31, <strong>2012</strong>, the Company owned and operated<br />
6,417 retail locations worldwide and franchised an additional 543 locations principally<br />
through its subsidiaries <strong>Luxottica</strong> Retail North America, Inc., Sunglass Hut Trading, LLC,<br />
OPSM Group Limited, Oakley, Inc. (“Oakley”) and Multiopticas Internacional S.L.<br />
In line with prior years, the retail division’s fiscal year is a 52- or 53-week period ending on<br />
the Saturday nearest December 31. The accompanying consolidated financial statements<br />
include the operations of all retail divisions for the 52-week periods for fiscal years <strong>2012</strong><br />
and 2011. The use of a calendar fiscal year by these entities would not have had a material<br />
impact on the consolidated financial statements.<br />
The Company is controlled by Delfin S.àr.l., a company subject to Luxembourg law.<br />
These consolidated financial statements were authorized to be issued by the Board of<br />
Directors of the Company at its meeting on February 28, 2013.