Profile: Luxottica Group SpA (LUX)
2 Dec 2016
Luxottica Group S.p.A., incorporated in 1981, is a holding company. The Company is engaged in design, manufacture and distribution of fashion, luxury, sport and performance eyewear. The Company's product design, development and manufacturing take place in over six production facilities in Italy, three factories in China, one production facility in Brazil and one production facility in the United States for sports and performance eyewear. The Company operates through two segments: manufacturing and wholesale distribution, and retail distribution. Through its manufacturing and wholesale distribution operations, the Company is engaged in the design, manufacturing, wholesale distribution and marketing of brands and designer lines of prescription frames and sunglasses, as well as of performance optics products. Through its retail operations, the Company owns and operates approximately 6,590 retail locations around the world and franchises an additional over 780 locations through its subsidiaries, Luxottica Retail North America, Inc., Sunglass Hut Trading, LLC, OPSM Group Limited, Oakley, Inc. (Oakley) and Multiopticas Internacional S.L. It operates its retail segment through its retail brands, which include LensCrafters, Sunglass Hut, Pearle Vision, ILORI, The Optical Shop of Aspen, GMO, OPSM, Laubman & Pank, Oakley O Stores and Vaults, David Clulow, and its retail licensed brands, Sears Optical and Target Optical.
The Company's wholesale distribution network covers over 150 countries across five continents and has approximately 50 commercial subsidiaries. It is engaged in the prescription business in North America with its LensCrafters and Pearle Vision retail brands, in Australia and New Zealand with its OPSM and Laubman & Pank brands, in China with its LensCrafters brand and in Latin America with its GMO brand. In North America, the Company also operates its retail licensed brands, Sears Optical and Target Optical. The Oakley brand provides a wholesale and retail presence in both the performance optics and sport channels with its O stores, offering Oakley-branded eyewear, as well as apparel, footwear, backpacks and accessories designed for athletic lifestyles.
The Company competes with De Rigo S.p.A., Kering Eyewear S.p.A., Marchon Eyewear, Inc., Marcolin S.p.A., Safilo Group S.p.A., Silhouette International, Schmied AG, Maui Jim, Inc., Wal-Mart, Visionworks, Specsavers, Vision Service Plan, Davis Vision and Spectera.
Luxottica Group SpA
Piazzale Cadorna, 3