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Luxottica Group is a leader in premium, luxury and sports eyewear with over 7,400 optical and sun retail stores in North America, Asia-Pacific, China, South Africa, Latin America and Europe, and a strong, well-balanced brand portfolio.
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- History
- Eyewear Brands
- Retail
- Medical Managed Care
- Philanthropy
- Criticism
- Major Shareholders
Foundings of Luxottica
Leonardo Del Vecchio started the company in 1961, in Agordo north of Belluno, Veneto; today the company is headquartered in Milan, Italy. Del Vecchio began his career as the apprentice to a tool and diemaker in Milan, but he decided to turn his metalworking skills to making spectacle parts. In 1961, he moved to Agordo in the province of Belluno, home to most of the Italian eyewear industry. The new company was Luxottica s.a.s., a limited partnership with Del Vecchio as one of the founding par...
Vertical integration and acquisitions
Convinced of the need for vertical integration, he acquired Scarrone in 1974, a distribution company. In 1981, the company set up its first international subsidiary, in Germany, the first in a rapid period of international expansion.The first of many licensing deals with a designer was struck with Giorgio Armani in 1988. The company listed in New York in 1990, and in Milan in December 2000, joining the MIB-30 (now FTSE MIB) index in September 2003. The listing raised money for the company and...
Reorganization and merger with Essilor
On 1 September 2014, a new organizational structure was announced, composed of two co-CEOs, one focusing on market development and the other overseeing corporate functions. After the exit of former CEO Andrea Guerra, Enrico Cavatorta was appointed CEO of Corporate Function and Interim CEO of Market (until new and permanent appointment to this role). Cavatorta left the company 40 days after being appointed CEO. In 2016, it was reported that Luxottica had lost its third chief executive in a yea...
Luxottica's two main product offerings are sunglasses and prescription frames. The company operates in two sectors: manufacturing & wholesale distribution, and retail distribution. The house brands include the following: The company also makes eyewear under license for the following designer labels: These brands are sold in the company's own shops,...
Luxottica Retail has about 9,100 retail locations in the United States, Latin America, Canada, India, China, Australia, New Zealand, South Africa, the United Kingdom, and United Arab Emirates. The headquarters of the retail division is in Mason, Ohio, United States (North America).Their retail banners include the following: Luxottica is the largest...
Luxottica also owns EyeMed Vision Care, a managed vision care organization in the United States.As of 2014, it is the second-largest vision benefits company in the United States.
Luxottica is affiliated with the charitable organization OneSight, formed in 1988. In August 2018, Luxottica restored Accademia Bridge in Venice.In March 2022, EssilorLuxottica announced the launch of the OneSight EssilorLuxottica Foundation to unify the group's philanthropic efforts, primarily providing vision services to underserved communities.
Monopolistic pricing practices
The company has been criticized for the high price of its brand-name glasses, such as Ray-Ban, Oakley, and several others. A 2012 60 Minutes segment focused on whether the company's extensive holdings in the industry were used to keep prices high. Luxottica owns not only a large portfolio of brands (over a dozen) such as Ray-Ban and Oakley but also retailers such as Sunglass Hut, Lenscrafters and Oliver Peoples, the optical departments at Target and Sears, as well as key eye insurance groups...
The list of Luxottica shareholders with more than 2% of holdings, December 2014. 1. Delfin S.à r.l.a company controlled by Leonardo Del Vecchio 66.485% 2. Deutsche Bank Trust Company Americas (as ADRdepository) 7.466% 3. Giorgio Armani4.955%
EssilorLuxottica is home to some of the most loved and widely-recognized vision care and eyewear brands in the world.
From classic to trendy styles, we offer a variety of frames and sunglasses to suit any taste and vision needs. Discover our iconic brands.
