Annual Review 2012 - Luxottica
Annual Review 2012 - Luxottica
Annual Review 2012 - Luxottica
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38 ANNUAL REview <strong>2012</strong><br />
Licensed Brands<br />
Designer lines are produced<br />
and distributed through<br />
license agreements with major<br />
fashion houses. The license<br />
agreements are exclusive<br />
contracts which typically have<br />
terms of between three and<br />
ten years, and may contain<br />
options for renewal for<br />
additional periods. Under<br />
these license agreements,<br />
<strong>Luxottica</strong> is required to pay a<br />
royalty ranging from 5% to 14%<br />
of the net sales of the related<br />
collection and a mandatory<br />
marketing contribution of<br />
between 5% and 10% of sales.<br />
Prada and Dolce & Gabbana<br />
are two significant licenses<br />
in <strong>Luxottica</strong>’s portfolio as<br />
measured by total sales. In<br />
<strong>2012</strong>, sales realized through the<br />
Prada, Prada Linea Rossa and<br />
Miu Miu brand names together<br />
represented approximately<br />
3.9% of total sales, whereas<br />
the sales realized through<br />
the Dolce & Gabbana<br />
group brands represented<br />
approximately 2.6% of total<br />
sales.<br />
Brooks Brothers<br />
Characterized by<br />
lightweight materials and<br />
a slender line, the Brooks<br />
Brothers collections<br />
reflect the iconic features<br />
of the style of this<br />
American brand. This is<br />
an affordable product<br />
line with classic style that<br />
delivers functionality,<br />
lightness and high quality.<br />
The original license<br />
agreement was entered<br />
into in 1992.<br />
BVlgari<br />
Extending its vision of<br />
extraordinary beauty<br />
to everyday objects,<br />
Bulgari, under license<br />
since 1997, applies the<br />
same uncompromising<br />
design and product<br />
standards to its men’s<br />
and women’s eyewear<br />
collections, recapturing<br />
fine handcrafting in ladies<br />
collections and technical<br />
innovation in gentlemen’s<br />
styles.<br />
Burberry<br />
Since its founding in<br />
England in 1856, Burberry<br />
has been synonymous<br />
with quality, as defined by<br />
the endurance, classicism<br />
and functionality that<br />
characterized its history.<br />
Burberry has become<br />
a leading luxury brand<br />
with a global business.<br />
The eyewear collection,