Annual Review 2012 - Luxottica

More documents

Recommendations

Info

20 ANNUAL REVIEW 2012 chains. As a result, Luxottica became the world’s first significant eyewear manufacturer to enter the retail market, thereby maximizing synergies with its production and wholesale distribution and increasing penetration of its products through LensCrafters stores. Since 2000, Luxottica has strengthened its retail business by acquiring a number of chains, including Sunglass Hut (2001), a leading retailer of premium sunglasses, OPSM Group (2003), a leading optical retailer in Australia and New Zealand and Cole National (2004), which brought with it another important optical retail chain in North America, Pearle Vision, and an extensive retail licensed brands store business (Target Optical and Sears Optical). In 2005, the Company began its retail expansion into China, where LensCrafters has become a leading brand in the country’s high-end market. In the same year, the Group also started to expand Sunglass Hut globally in high-potential markets like the Middle East, South Africa, Thailand, India, the Philippines, Mexico, Brazil and Mediterranean Europe. In 2011, Luxottica started its optical retail expansion in Latin America by completing the acquisition of Multiopticas Internacional, a leading retailer in Chile, Peru, Ecuador and Colombia operating under the Opticas GMO, Econópticas and Sun Planet retail brands. Brand Portfolio Management Building strong brands that create enduring relationships with consumers is key to how Luxottica plans to sustain its business in the future. The Company has an existing strong and well-balanced brand portfolio that includes a number of proprietary and licensed brands and that is continually evolving. Its composition is gradually modified by the acquisition of new brands, the addition of new licensing agreements and the renewal of existing ones along with the withdrawal of brands no longer deemed strategic. These actions are taken in order to continually attract a wide range of consumers with different tastes and lifestyles. Furthermore, Luxottica’s long-term objectives remain consistent: to focus on leading brands, balance proprietary and licensed brands, avoid brand dilution, lengthen the average term of licensing agreements and fuel Asian friendly styles. DESIGN and Technological Innovation Luxottica is committed to staying current with changing lifestyles and emerging fashion trends, which it interprets in the design and style of products to address the needs and tastes of consumers. Emphasis on product design and the continuous development of new styles is the Group’s distinctive feature. The Company differentiates its products not only through innovation in style and design but also through a commitment to technological innovation.
2.2 MISSION AND STRATEGY 21 Luxottica is committed to maintaining and strengthening its leading position in the markets in which it operates. It is also focused on evaluating opportunities to further penetrate emerging markets, Market Expansion a key driver of its long-term growth strategy. Market expansion is also sought through increasing retail distribution while consolidating Luxottica’s wholesale network. The Company has a strong focus on operating profitability and cash generation to deliver sustainable growth. Close monitoring of working capital management and a continued focus on debt reduction help to further strengthen the Company’s financial position. Financial Discipline Highly qualified, motivated and committed employees are critical to the long-term success of the Company. Luxottica carefully manages the hiring and training process with a view to employing and retaining outstanding professionals. Luxotticans
Page 1: Annual Review 2012
Page 6 and 7: All pictures in this Annual Review
Page 9 and 10: 7 Letter to shareholders Dear Share
Page 11: 9 1 Financial highlights 2008 2009
Page 15: 13 2.1 Profile Luxottica is a marke
Page 19 and 20: 17 2.2 Mission and strategy VERTICA
Page 21: 2.2 MISSION AND STRATEGY 19 develop
Page 26 and 27: A first-class brand portfolio ACQUI
Page 29: 27 2.4 From design to logistics Des
Page 32 and 33: 30 ANNUAL REview 2012 its manufactu
Page 34 and 35: 32 ANNUAL REview 2012 introduces ne
Page 37 and 38: 35 2.5 Brand portfolio Proprietary
Page 39 and 40: 2.5 BRAND PORTFOLIO 37 Vogue eyewea
Page 41 and 42: 2.5 BRAND PORTFOLIO 39 under licens
Page 43: 2.5 BRAND PORTFOLIO 41 Prada Group
Page 46 and 47: 44 ANNUAL REview 2012 Luxottica a w
Page 48 and 49: 46 ANNUAL REview 2012 Customers of
Page 52 and 53: 50 ANNUAL REview 2012 Retail licens
Page 54 and 55: 52 ANNUAL REview 2012 SUN AND LUXUR
Page 57 and 58: 55 2.7 Giving back through OneSight
Page 60 and 61: 58 ANNUAL REview 2012 Canada 7,342
Page 63 and 64: 61 3 A long way to grow In 2013 Lux
Page 65: 3 A long way to grow 63 The concent
Page 68 and 69: 66 ANNUAL REview 2012 Net sales in
Page 71 and 72: 69 5 Human resources Group headcoun
Page 73:
5 HUMAN RESOURCES 71 For the retail
Page 77 and 78:
75 Other information 2000-2012 EVOL
Page 79 and 80:
Other information 77 share Capital
Page 81 and 82:
Other information 79 1990 1991 1992
Page 84 and 85:
www.luxottica.com
Page 87:
ANNUAL REPORT 2012 Fiscal year ende
Page 91 and 92:
MANAGEMENT REPORT | 5 > Management
Page 93 and 94:
MANAGEMENT REPORT | 7 > 2011. In 20
Page 95 and 96:
MANAGEMENT REPORT | 9 > As a result
Page 97 and 98:
MANAGEMENT REPORT | 11 > of Coach,
Page 99 and 100:
MANAGEMENT REPORT | 13 > Please fin
Page 101 and 102:
MANAGEMENT REPORT | 15 > Adjusted n
Page 103 and 104:
MANAGEMENT REPORT | 17 > The income
Page 105 and 106:
MANAGEMENT REPORT | 19 > Operating
Page 107 and 108:
MANAGEMENT REPORT | 21 > Other Inco
Page 109 and 110:
MANAGEMENT REPORT | 23 > Cash used
Page 111 and 112:
MANAGEMENT REPORT | 25 > As of Dece
Page 113 and 114:
MANAGEMENT REPORT | 27 > Capital ex
Page 115 and 116:
MANAGEMENT REPORT | 29 > Implementa
Page 117 and 118:
MANAGEMENT REPORT | 31 > consequent
Page 119 and 120:
MANAGEMENT REPORT | 33 > Risks Rela
Page 121 and 122:
MANAGEMENT REPORT | 35 > 31, 2012 a
Page 123 and 124:
MANAGEMENT REPORT | 37 > n) If we w
Page 125 and 126:
MANAGEMENT REPORT | 39 > of the U.S
Page 127 and 128:
MANAGEMENT REPORT | 41 > growing at
Page 129 and 130:
MANAGEMENT REPORT - APPENDIX | 43 >
Page 131 and 132:
Page 133 and 134:
Page 135 and 136:
Page 137 and 138:
Page 139 and 140:
REPORT ON CORPORATE GOVERNANCE AND
Page 141 and 142:
Page 143 and 144:
Page 145 and 146:
Page 147 and 148:
Page 149 and 150:
Page 151 and 152:
Page 153 and 154:
Page 155 and 156:
Page 157 and 158:
Page 159 and 160:
Page 161 and 162:
Page 163 and 164:
Page 165 and 166:
Page 167 and 168:
Page 169 and 170:
Page 171 and 172:
Page 173 and 174:
Page 175 and 176:
Page 177 and 178:
Page 179 and 180:
CONSOLIDATED FINANCIAL STATEMENTS |
Page 181 and 182:
Consolidated financial statements -
Page 183 and 184:
Page 185 and 186:
Page 187 and 188:
Page 189 and 190:
Page 191 and 192:
Page 193 and 194:
Page 195 and 196:
Page 197 and 198:
Page 199 and 200:
Page 201 and 202:
Page 203 and 204:
Page 205 and 206:
Page 207 and 208:
Page 209 and 210:
Page 211 and 212:
Page 213 and 214:
Page 215 and 216:
Page 217 and 218:
Page 219 and 220:
Page 221 and 222:
Page 223 and 224:
Page 225 and 226:
Page 227 and 228:
Page 229 and 230:
Page 231 and 232:
Page 233 and 234:
Page 235 and 236:
Page 237 and 238:
Page 239 and 240:
Page 241 and 242:
Page 243 and 244:
Page 245 and 246:
Page 247 and 248:
Page 249 and 250:
Page 251 and 252:
Page 253 and 254:
Page 255 and 256:
Page 257 and 258:
Page 259 and 260:
Page 261 and 262:
Page 263 and 264:
Page 265 and 266:
Page 267 and 268:
Page 269 and 270:
Page 271 and 272:
Page 273 and 274:
Page 275 and 276:
Page 277 and 278:
Page 279:
www.luxottica.com
show all

Annual Review 2012 - Luxottica

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?