Luxottica news and archive

Luxottica founder Leonardo Del Vecchio dies at 87

Leondardo Del Vecchio, the founder of eyewear emporium Luxottica, died in Milan at the age of 87. Del Vecchio sat at the helm of the largest distribution group in the eyewear world, and had a personal wealth of 25.8 billion dollars, making him the second wealthiest person in Italy. Awarded with Italy’s Knight of the Order of Merit for Labor, he...

Business

Luxottica and Valentino terminate license agreement

Italian eyewear giant Luxottica Group and Valentino have confirmed that its five-year licensing agreement will end on June 30, 2022. In a short statement, the two companies said that Luxottica, which started working with Valentino in 2017, will no longer be designing, producing or distributing prescription frames and sunglasses worldwide under...

Fashion

Brunello Cucinelli developing eyewear with Oliver Peoples

Luxury Italian brand Brunello Cucinelli is partnering with Oliver Peoples, part of the Luxottica group, to launch its first eyewear capsule collection. The collection will be made in Italy with five different styles inspired by the culture and beauty of Solomeo, where Brunello Cucinelli is based. With the shapes and colours, the result of “...

FashionPress Release

Luxottica Alum and Finance Pro Team Up to Launch Inclusive Sunglasses Brand: Yunizon Eyewear

New York, NY–May X, 2020–Yunizon Eyewear, the pioneers behind Global Fit Technology, is proud to launch their core line of innovative, gender neutralsunglasses. Co-Founded by eyewear industry vet Kimberly Van Schoyck-Riojas and corporate finance expert Rebecca Lay,the brand is positioned to become atop global, all-inclusive brand. The first to...

Business

Versace and Luxottica renew eyewear license

Versace and Luxottica Group have jointly announced the early renewal of an exclusive license agreement for the development, production and worldwide distribution of sunglasses and prescription frames under the Versace brand. The company said in a statement that ten-year renewal is effective starting April 1, 2020 and is scheduled to expire on...

Business

Luxottica H1 results flat before merger

Luxottica, the world’s largest eyewear manufacturer, reported 4.55 billion euros in revenue in the first half of 2018, with a marginal increase of 0.3 percent. Despite the flat results the company said it is pleased with the group’s performance: "The growth in the markets where we completed the new commercial strategy, including North America...

Business

Luxottica acquires lens manufacturer Barberini S.p.A

Luxottica Group has announced the acquisition of the Italian manufacturer of optical glass sun lenses, Barberini S.p.A. The transaction is valued at approximately 140 million euro (163 million US dollars). ”With the acquisition of Barberini we add another gem to our brands, a name that is well known throughout the industry and synonymous with...

BusinessFeatured

Luxottica's Q1 sales hit by bad weather in Europe

Luxottica closed the first quarter of 2018 with sales down by 0.8 percent at constant exchange rates and 10.7 percent at current exchange to 2,136 million euros (2,591 million dollars), which the company said were due to the temporary slowdown in Europe caused by a delayed sun season and the restructuring of the wholesale business in China. "The...

Business

Luxottica expects strong adjusted net profit growth in FY17

In a preliminary results statement, Luxottica Group said that the company closed the fourth quarter of 2017 with sales up 4.3 percent at constant exchange down 2.3 percent at current exchange rates as a result of the strong appreciation of the euro against the group’s other primary currencies. The company added that the fourth quarter results...

BusinessFeatured

Despite weak Q3, Luxottica affirms full year outlook

Announcing its results for the third quarter of FY17, Luxottica said that its net sales increased 0.8 percent at constant exchange but declined 3.5 percent at current exchange rates as a result of the strong euro appreciation against the main currencies. In the first nine months of the year, revenues rose by 1.5 percent at constant exchange and...

Business

Luxottica reports 4.2 percent revenue growth in H1

The Luxottica Group said that net sales grew by 4.2 percent or 1.8 percent at constant exchange to 4,917 million euros (5,732 million dollars), in the first half of 2017, with sustained profitability for both divisions and record free cash flow generation. The adjusted net income of the group grew by 6.7 percent to 567 million euros (660 million...

Fashion Featured

LVMH tops Deloitte's Luxury Goods ranking

There’s no change in the top four companies in the latest Global Powers of Luxury Goods report conducted by audit and consulting firm Deloitte, which analyses the top 100 luxury companies in the world. Once again, the report ranked French conglomerate LVMH Moët Hennessy-Louis Vuitton, which includes luxury brands Louis Vuitton, Fendi, Marc...