MILAN, Italy, Jan. 31 /PRNewswire-FirstCall/ -- Luxottica Group S.p.A.
(NYSE: LUX; MTA: LUX), a global leader in eyewear, today announced the signing
of the new partnership agreement for eyewear collections under the CHANEL
brand.
Leonardo Del Vecchio, chairman of Luxottica Group, commented: "We are
extremely pleased with this key renewal for our brand group with mutual
satisfaction of both parties for the terms and conditions of the agreement.
More importantly, this marks the further extension of an already long-term
relationship between our two companies, which started in 1999 with the launch
of CHANEL's first-ever eyewear collections and now looks to capture the
additional opportunities for growth that exist even for this highly-exclusive
and iconic luxury fashion brand."
Luxottica Group S.p.A.
Luxottica Group is a global leader in eyewear, with over 6,000 optical and
sun retail stores in North America, Asia-Pacific, China, South Africa and
Europe and a strong brand portfolio that includes Ray-Ban, the best selling
sun and prescription eyewear brand in the world, as well as, among others,
license brands Bvlgari, Burberry, Chanel, Dolce & Gabbana, Donna Karan, Polo
Ralph Lauren, Prada, Salvatore Ferragamo and Versace, and key house brands
Oakley, Oliver Peoples, Vogue, Persol, Arnette and REVO. In addition to a
global wholesale network that touches 130 countries, the Group manages leading
retail brands such as LensCrafters, Pearle Vision and Sunglass Icon, in North
America, OPSM and Laubman & Pank in Asia-Pacific, and Sunglass Hut globally.
The Group's products are designed and manufactured in six Italy-based high-
quality manufacturing plants and in the only two China-based plants wholly-
owned by a premium eyewear manufacturer. For fiscal year 2007, Luxottica Group
(NYSE: LUX; MTA: LUX) posted consolidated net sales of €5 billion. Additional
information on the Group is available at www.luxottica.com.
Safe Harbor Statement
Certain statements in this press release may constitute "forward-looking
statements" as defined in the Private Securities Litigation Reform Act of
1995. Such statements involve risks, uncertainties and other factors that
could cause actual results to differ materially from those which are
anticipated. Such risks and uncertainties include, but are not limited to, the
ability to successfully integrate Oakley's operations, the ability to realize
expected synergies from the merger with Oakley, the ability to successfully
introduce and market new products, the ability to maintain an efficient
distribution network, the ability to predict future economic conditions and
changes in consumer preferences, the ability to achieve and manage growth, the
ability to negotiate and maintain favorable license arrangements, the
availability of correction alternatives to prescription eyeglasses,
fluctuations in exchange rates, the ability to effectively integrate other
recently acquired businesses, as well as other political, economic and
technological factors and other risks and uncertainties described in our
filings with the U.S. Securities and Exchange Commission. These forward-
looking statements are made as of the date hereof, and we do not assume any
obligation to update them.
SOURCE Luxottica Group S.p.A.